The Board of Directors (“Board”) of Bright wishes to announce that the Company had on 5 May 2023 entered into a new Joint Venture Agreement (“JVA”) with Datai Plantations Sdn. Bhd. (“DPSB”) (hereinafter referred to collectively as “Parties”) to supersede the previous Joint Venture Agreement dated 19 August 2021 (“2021 JVA”) entered between the Parties and to form an unincorporated joint venture for the purpose of further diversity and increase its investment in the field of oil palm plantation together with facilities and the provision of services ancillary to such plantation on parcels of land located in Sarikei, Sarawak (“Project”).

Please refer to the attachment for further details.

This announcement is dated 5 May 2023.