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10 March 2016

Joint Venture Development

JOINT VENTURE DEVELOPMENT BETWEEN PERQUEST SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF TAMBUN INDAH AND AL. ALAMELU ACHI D/O VENGADACHALAM CHETTIAR, CT. ARUNACHALAM A/L CHIDAMBARAM CHETTIAR, CT. NARAYANAN A/L CHIDAMBARAM CHETTIAR, RAMASAMY A/L ALAGAPPA CHETTIAR AND A.ALAGAPPAN AS EXECUTOR OF THE ESTATE OF A. ARUNACHALAM @ ALAGAPPA ARUNACHALAM @ AL. ARUANCHALAM @ A. AL. ARUNACHALAM A/L ALAGAPPA CHETTIAR @ ALAGAPPA ARUNACHALAM @ ANA ANA LANA A. AL. ARUNACHALAM alias ANA RUNA ANA LANA @ A. R. AL. ARUNACHALAM @ SAMBANDHAM CHETTIAR @ SAMBANTHAN CHETTIAR, DECEASED

(Unless otherwise stated, all abbreviations used herein shall have the same meaning as those mentioned in the announcement dated 02 April 2012 in relation to the JV Development (“Announcement”))

The Board of Directors of Tambun Indah is pleased to announce that Perquest and the Landowner had, on 10 March 2016 entered into a Supplemental Joint Venture Agreement (“SJVA”) for extension of time until a date on or before 17 September 2017 (“Extended Completion Date”) to complete the construction and deliver vacant possession of 3 units of shop offices to be built on Lot 186 to the Landowner.

In consideration of the Extended Completion Date, the Developer and the Landowner have agreed that the total land and built up areas of the Landowner’s units of shop offices be revised in the following manner:-

  Under JVA dated 02 April 2012 Under SJVA (Revision)
Land Area (meter square) 1,120 1,133
Built-Up Area (meter square) 711 1,154

The Developer shall at its own cost and expense complete the construction and hand-over possession of the Landowner’s shop offices on or before the Extended Completion Date.

The SJVA is available for inspection by the shareholders of Tambun Indah at the registered office situated at 51-21-A, Menara BHL Bank, Jalan Sultan Ahmad Shah, 10050 Penang during office hours from Mondays to Fridays (except public holidays) for a period of 3 months from the date of this announcement.

This announcement is dated 10 March 2016.