Reference is made to the announcement of the Company dated 15 January 2016 in relation to the proposed collaboration to jointly develop Kharisma port and integrated industrial and commercial development on the parcel of land held under HGU30, HGU 39 and HGU40 at JL. Suak Kandis, Desa Sakaen, Kecamatan Kumpeh Ulu, Desa Pudak, Desa Kemingking Dalam, Teluk Jambu, Kecamatan Marosebo, Jambi Province, Indonesia measuring approximately 2,155.52 hectare (“Proposed Collaboration”) through the consortium of Vivocom Enterprise Sdn Bhd (“VESB”), Pt. Kharisma Kemingking and Instacom Group Berhad (“Instacom”) (“The Parties”)

Further thereto, the Board of Directors of Instacom wishes to announce the following additional details:-

1. The cost and outlay for the Proposed Collaboration have not been fixed and shall be determined once the feasibility and due diligence study to be conducted by VESB are completed and the terms and conditions of the definitive agreements are mutually agreed upon by the Parties. The capital outlay by VESB and Instacom, once determined, will be financed by way of the internally generated funds and/or bank borrowings, as and when required.
2. The feasibility and due diligence study is expected to be completed within the next six (6) months. Thereupon, the definitive agreements are expected to be signed by the Parties within three (3) months after the finalization of the feasibility and due diligence study.
3. The Company would provide further updates on the Proposed Collaboration, such as, amongst others, the capital outlay, the finalization of the feasibility and due diligence study and the signing of the definitive agreements, etc., once they are available.   

This announcement is dated 19 January 2016.