MALAYSIAN RESOURCES CORPORATION BERHAD ("MRCB" OR "COMPANY")

PROPOSED ACQUISITION BY MRCB LAND SDN. BHD., A WHOLLY-OWNED SUBSIDIARY OF MRCB, OF 1,000,000 ORDINARY SHARES OF RM1.00 EACH IN PROJEKMAJU SDN. BHD., REPRESENTING 100% EQUITY INTEREST IN PROJEKMAJU SDN. BHD. FROM NUSA GAPURNA DEVELOPMENT SDN. BHD., FOR A CASH CONSIDERATION OF RM1,000,000 ("PROPOSED ACQUISITION")
The Board of Directors of MRCB (“Board”) wishes to announce that MRCB Land Sdn. Bhd. (“MRCB Land”), a wholly-owned subsidiary of MRCB, has today, entered into a Sale and Purchase Agreement (“SPA”) with Nusa Gapurna Development Sdn. Bhd. (“NGD”) for the proposed acquisition of 1,000,000 ordinary shares (“Sale Shares”), representing 100% equity interest in Projekmaju Sdn Bhd (“Projekmaju”) for a cash consideration of RM1,000,000 (“Purchase Consideration”).