ANNUAL REPORT 2025 095 AUDIT AND RISK MANAGEMENT COMMITTEE REPORT 2. Acquisition of Land Nature Kimlun Sdn. Bhd., a wholly-owned subsidiary of the Company, proposed to acquire 2 parcels of land in the township and district of Kulai, State of Johor (“Acquisition”)(“Kulai Land”) from Mr Pang Tin @ Pang Yon Tin, for a total cash consideration of RM3,650,000 (“Purchase Price”). Factors Considered by the ARMC To safeguard the Group’s interests, the ARMC considered the following: (i) The Group requires vacant land for additional storage of construction materials and machinery; (ii) The Kulai Land is suitable for the intended use and strategically located; (iii) The Kulai Land is free from all encumbrances and comes with vacant possession; (iv) The Purchase Price was determined based on an independent professional valuation. Outcome After review, the ARMC concluded that the Acquisition is not detrimental to the Group. The Acquisition was completed in December 2025. This statement is made in accordance with the resolution of the Board of Directors dated 8 April 2026.
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