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We refer to our earlier
announcement dated 13th February 2008 on the above matter and
wish to announce that our wholly owned subsidiary company, Syarikat
Bina dan Kuari Kedah Sdn Bhd (Bina Kuari) had issued a letter
dated 29th April 2008 to Syarikat Perumahan Negara Berhad (“SPNB”)
to vary and determine the Development Agreement dated 1st August
2007 and consequently determined the Shareholders Agreement
dated 12th February 2007 as referred in the Development Agreement
with immediate effect.
Pursuant to this, a Deed of Variation has been executed between
the Parties namely Syarikat Perumahan Negara Berhad (“SPNB”),
Syarikat Bina dan Kuari Kedah Sdn Bhd (“Bina Kuari’) and Konsortium
Waza Maju Sdn Bhd (“KWMSB”) on 23rd June 2008.
Subsequently, Bina Kuari has withdrawn its 60% portion in the
Joint Venture Agreement for the development of the above Project
and assigned its portion to KWMSB accordingly.
The Deed of Variation may be inspected at the Registered Office
of the Company located at Aras 9, Menara BDB, 88 Lebuhraya Darulaman,
05100 Alor Star, Kedah.
This Announcement is dated 3rd June 2008
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