Reference is made to the article in “The Star”
dated 23 May 2014 titled “Nexgram unit to partner Protasco for Cyberjaya
project”. Protasco Berhad (“Protasco” or
“Company”) wishes to clarify that the Company has entered into preliminary
discussion with Nexgram Holdings Berhad (formerly known as Nextnation
Communication Berhad) (“Nexgram”) for the proposed development project in
Cyberjaya. This proposal has yet to be
presented to the Board of Directors (“Board”) of Protasco for further
deliberation.
As the proposal is still at a preliminary stage,
no gross development value and development period has been discussed or agreed
upon.
Protasco will make the necessary announcement
once the proposal is formalised and approved by the Board of Protasco. As such, no further announcement on the
proposal will be made today.
This announcement is dated 23 May 2014.