We refer to Bursa query letter dated 8 March 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.  Quantification of SUNGGUH’s Net Assets/Liabilities and Net Profit/Loss based on the latest audited financial statements;

     Quantification of SUNGGUH on followings are based on the latest audited financial statements:

     a. Net Liabilities – RM176,159

     b. Net Loss – RM349,220

2. Quantification of SUNGGUH’s adjusted Net Assets/Liabilities based on the latest audited financial statements and management accounts respectively, after taking into consideration      of the revaluation surplus arising from the valuation of the Land undertaken on 3 March 2018;

    Quantification of SUNGGUH on adjusted Net Assets based on the latest audited financial statements and management accounts respectively, after taking into consideration of the           revaluation surplus arising from the valuation of the Land undertaken on 3 March 2018:

    a. latest audited financial statements adjusted Net Assets – RM1,914,939

    b. management accounts adjusted Net Assets – RM1,637,786

3. Detailed basis on how to arrive at the purchase consideration, other than willing-buyer willing- seller basis, and after taking into consideration, amongst others, the adjusted audited        Net Assets/Liabilities of SUNGGUH;

    Valuation of the said land of RM12.5million was an essential condition to arrive at the purchase consideration apart from taking into consideration of value of the land in latest                  audited accounts and approval obtained from authorities for the development on the land.

4. The estimated Gross Development Value and Gross Development Cost respectively of the Property Development Project, together with the basis and assumptions thereof; and

    The initial estimated Gross Development Value is approximately RM70million and Gross Development Cost is approximately RM40million respectively of the Property Development        Project.

   The initial estimated Gross Development Value and Gross Development Cost respectively of the Property Development Project are indicative values after taking into consideration of     approved building plan and the transacted selling prices of other sale comparables in the locality and comparison of industry average costs and expenses for mixed development           projects.

  The initial estimated Gross Development Value and Gross Development Cost respectively may differ accordingly to include, amongst others, the variation to the number of units, car      parks, other facilities, pricing and timing of development eventually launched, demand, construction costs and then prevailing market conditions.    

5. To also make available the Supplemental Agreement and Valuation Report for inspection.

    A photocopy each of the Sales and Purchase Share Agreement (SPA), Supplemental Agreement (SA) and Valuation Report have been deposited to the Registered Office of the           Company for public inspection purpose, whereas the original copy of the SPA and SA are with the lawyer for the arrangement of the stamping purpose.