1. INTRODUCTION
The Board of Directors of EHB (“the Board”) wishes to announce that EXSIM Concepto Sdn. Bhd. (“ECSB”), a wholly-owned subsidiary of the Company, had on 21 October 2025 accepted the letter of award dated 20 October 2025 (“LOA”) awarded by Binastra Builders Sdn. Bhd. (“BBSB” or “Main Contractor”) for the supply, fabrication, delivery and installation of carpentry works to apartment units (“Sub-Contract Works”).
2. INFORMATION ON ECSB
ECSB was incorporated in Malaysia as a private company limited by shares having its registered address at No. D-09-02, Level 9, EXSIM Tower, Millerz Square @ Old Klang Road, Megan Legasi, No. 357, Jalan Kelang Lama, 58000 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur.
The nature of business of ECSB is principally involved in providing specialised fit-out services for hospitality property assets.
3. INFORMATION ON BBSB
BBSB was incorporated in Malaysia as a private company limited by shares and having its business address at No. 1 & 3, Jalan Jalil Jaya 3, Jalil Link, Bukit Jalil, 57000 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur.
The nature of business of BBSB is general contractor and property developer.
4. DETAILS OF THE LOA
(a) The contract sum for the Sub-Contract Works is RM17,638,693.94 (Ringgit Malaysia: Seventeen Million Six Hundred Thirty-Eight Thousand Six Hundred Ninety-Three and Ninety-Four Cents) only (“the Contract Sum”).
(b) The period of the Sub-Contract Works shall be aligned with the construction schedule under the main contract awarded to Main Contractor (“the Main Contract”) and the works shall be carried out in accordance with the timeline and requirements determined by the Main Contractor.
(c) The Main Contract commenced on 1 April 2024 and is scheduled for completion on 31 August 2027, with a duration of forty-one (41) months.
(d) The defects liability period shall commence on the date of completion and end twenty-seven (27) months after the issuance of the Certificate of Practical Completion.
(e) ECSB shall carry out the Sub-Contract Works in accordance with the other supplementary terms and conditions set out in the LOA.
5. FINANCIAL EFFECTS
The acceptance of the LOA by ECSB to undertake the Sub-Contract Works is expected to contribute positively to the net assets per share, earnings per share and gearing of the Company throughout the duration of the Sub-Contract Works.
6. RISK FACTORS
The Company does not foresee any exceptional risk other than the normal operational risks associated with the LOA and/or the Sub-Contract Works. Nevertheless, the Company will take the necessary steps to mitigate the risks as and when they occur.
7. APPROVAL REQUIRED
The acceptance of the LOA is not subject to the approval from the Company’s shareholders and/or any regulatory authorities.
8. DIRECTORS’ AND MAJOR SHAREHOLDERS’ AND/OR PERSONS CONNECTED WITH A DIRECTOR OR MAJOR SHAREHOLDER’S INTERESTS
None of the Directors and/or major shareholders of EHB or persons connected with them has any interests, direct or indirect, in the LOA and/or the Sub-Contract Works.
9. STATEMENT BY THE BOARD OF DIRECTORS
The Board, after having considered all aspects of the LOA and the Sub-Contract Works, is of the opinion that the LOA and the Sub-Contract Works are within the ordinary course of business of EHB and the acceptance of the LOA is in the best interest of the Company.
This announcement is dated 21 October 2025.