On behalf of the Board of Directors of the Company, Kenanga Investment Bank Berhad wishes to announce that the Company had on 26 August 2022, entered into a heads of agreement with Dato’ Chin Yoke Kan, Dato’ Chin Yoke Choon, Chin Polling, Chin Poh Yung and Chin Poh Yun (collectively referred to as the “Vendors”) for the acquisition of the entire Grocery Business carried out by the Vendors via the acquisition of the entire issued share capital of Tunas Manja Sdn Bhd and its subsidiaries and such related companies to be identified and determined, for a purchase consideration to be determined later (“Proposed Acquisition”).

Please refer to the attachment for further details.

This announcement is dated 26 August 2022.