We refer to Bursa Query Letter dated 28 September 2018 in respect of the aforesaid matter.  In this connection, kindly refer as below with the following additional information for public release as requested: 

1)      The other salient terms of the SPA, including the conditions precedents and termination clauses.

         Conditions Precedents

         The purchase of the Shares is conditional upon the Purchaser being satisfied with the results of an accountants’ investigation into the financial, contractual and trading position and prospects of the Company (hereinafter referred to as “the Condition Precedent”) and, if the Condition Precedent is not fulfilled within Sixty (60) days from the date of this Agreement, this Agreement shall cease to have effect and each party shall have no claim under it against the other, save in respect of any prior breach. The date of the Purchaser’s Solicitors written confirmation addressing to the Vendors’ Solicitors and the Company that the Condition Precedent is fulfilled is called the Unconditional Date.

        Termination Clauses

• In the event the Purchaser shall have complied with all the terms and conditions herein contained but the Vendors have failed to comply with their duties and obligations hereunder for any reason whatsoever that the Purchaser shall be entitled to specific performance and/or claim for damages against the Vendors and all costs and expenses incurred in connection therewith (including Solicitor's cost on a solicitor and client basis).

• If the Purchaser shall fail to pay the Balance Purchase Price or any part thereof on or before the Settlement Period not due to Vendor’s fault, the Vendors shall entitled to terminate this Agreement and the said Deposit paid by the Purchaser shall be forfeited absolutely to the Vendors as agreed liquidated damages and the Vendors shall thereupon within sixty (60) days from the termination date refund to the Purchaser all other sum or sums paid by the Purchaser towards account of the Purchase Price (if any) of the Shares free from interest. Upon such refund being made and the return of the documents belonging to the Vendors with Vendors’ right in the Shares remain intact or in the event the Shares has been transferred to the Purchaser, the Shares shall be retransferred to the Vendors at the sole costs and expenses of the Purchaser including the stamp duty and registration fee of the same. Thereafter, this Agreement shall come to an end and become null and void and of no further effect and neither party shall have any claim whatsoever against the other under or in respect of this Agreement and the Vendor shall have the right to resell the Shares to such person in such manner at such price and on such terms as the Vendors may think fit and the Purchaser shall have no right to any part of the purchase money thereby arising.

2)      Particulars of all liabilities, including contingent liabilities and guarantees to be assumed by PAC, arising from the Proposed Acquisition.

         -  No liabilities to be assumed by PAC arising from the Proposed Acquisition except the following:      

3)      Further clarification on how the Proposed Acquisition will benefit the Group in term of rental given that the Property is vacant at this juncture.

         -  The Company intends to rent out the said property and is currently in negotiation with potential tenant.

4)      Whether the Proposed Acquisition is subject to the approval of the relevant authority.

         -  The Proposed Acquisition is not subject to approval of relevant authority.