The Board of Directors of DPS (“Board”) wishes to announce that SSB had on 25 February 2021 entered into a joint venture agreement (“JVA”) with RPD for the development and completion of a residential development comprising of 4 pieces of freehold lands measuring approximately 25.906 acres held under Geran GM 161, Lot 348; GM 187, Lot 793; GM 186, Lot 794 and GRN 6017, Lot 795, all of which are located in Mukim of Rembia, District Alor Gajah, Melaka (“Krubong Land” or “Land”).

On 18 May 2021 , SSB informed RPD that it had carried out various studies on the Land to ensure commercial viability of future residential and commercial development on the Land and noted the results of the studies and searches on the Land are satisfactory and no adverse issues were uncovered.

Pursuant thereto, SSB will proceed to comply with the terms and conditions of the JVA especially on the payment terms stipulated therein. 

Please refer to the attached document for further details.

This announcement is dated 18 May 2021.