We refer to the announcements made on 15 March 2012, 13 September 2012, 4 September 2014 and 31 December 2015 on the above Project.

Pursuant to the execution of the Share Sale Agreement between Zelan Berhad (“Company”) and Landasan Kapital (M) Sdn Bhd (“LKSB”) (“Share Sale Agreement”) on 30 December 2015, the Company wishes to announce that its 95% owned subsidiary company, Terminal Bersepadu Gombak Sdn Bhd (“TEGAS”), has on 17 February 2016 entered into a Tripartite Agreement with its wholly owned subsidiary, Zelan Construction Sdn Bhd (“ZCSB”) and LKSB.

Under the Tripartite Agreement, the parties have agreed as follows:

(1) in respect of the construction works for Gombak Integrated Transport Terminal (“GITT Works”), TEGAS agrees to appoint ZCSB to be the main contractor for the execution of the GITT Works with the contract price of Ringgit Malaysia Three Hundred Seven Million Three Hundred Seventy Four Thousand Seven Hundred Three (RM307,374,703.00) on such terms and conditions to be agreed upon between TEGAS and ZCSB; and

(2) in respect of the Middle Ring Road 2 Upgrading Works (“MRR2 Works”), the Concession Agreement dated 15 March 2012 states that the works shall be awarded by the Government to TEGAS in accordance with the terms and conditions of the Design and Build Contract (“Contract”) to be entered into between the Government and TEGAS.

Upon finalisation of such Contract, TEGAS agrees to appoint LKSB to be the main contractor for the execution of the MRR2 Works and LKSB agrees to appoint ZCSB to carry out sub-contract works related to the MRR2 Works on such terms and conditions to be agreed upon between LKSB and ZCSB.

The above contracts are expected to contribute positively to the Group’s earning in the current financial year.

This Announcement is dated 17 February 2016.