We refer to our announcement dated 23 September 2020 and wish to announce that Envy Vista Sdn Bhd (Company No. : 200401012395 [650898-H]) (“EVSB”), an indirect wholly-owned subsidiary of TTB,  Smart Hybrid Resources Sdn Bhd (Company No.: 201501042303 [1167624-U]) (“SHRSB”) and Skyscraper Airhydro Industries Sdn Bhd (Company No.: 201401038732 [1114880-A]) have on 19 December 2023 entered into a mutual termination agreement to  terminate the Shareholders Agreement (“SA”) dated 23 September 2020 which was entered  to formalise and regulate their relationship with each other as shareholders in the joint venture through equity participation in Seaview Plantations Sdn Bhd (Company No. : 197301001398 [14958-V]) (“JV Co”), a subsidiary of TTB, to carry out the business of developing large scale sustainable modern commercial melon farming or any crop on the Land to produce premium quality safe food and to market the products to both the local and international markets (“Business”). The termination was due to the non-fulfillment of the obligation by EVSB in assisting the JV Co to apply for financing facilities required for the Business.  

The termination of the SA will not have any significant effect on the earnings or net assets per share of the Group for the financial year ending 31 March 2024.

This announcement is dated 19 December 2023.