The Board of Directors of Magna ("Board") wishes to announce that its indirect wholly-owned subsidiary, Magna Ecocity Sdn. Bhd. [Registration No. 199901021241 (496141-A] ("MESB" or the "Registered Proprietor") and its wholly-owned subsidiary, Twinicon (M) Sdn. Bhd. [Registration No. 200801015315 (816605-V)] ("Twinicon" or the "Purchaser") had on 24 March 2026 entered into a Sale and Purchase Agreement ("SPA") with OCR Avenue Sdn. Bhd. [Registration No. 202201011606 (1457303-A)] ("OCR Avenue" or the "Vendor"), to sell a portion of their development property measuring approximately 4.58 acres in area (hereinafter referred to as the "Sale Land") to be developed, from all that piece of 99 years leasehold lands held under No. Hakmilik PN 344295, Lot No. 10469 Seksyen 15, Bandar Shah Alam, Daerah Petaling, Negeri Selangor (previously known as No. Hakmilik H.S.(D) 16667, No. PT 12 Seksyen 15, Bandar Shah Alam, Daerah Petaling, Negeri Selangor) measuring approximately 8.0937 hectares in area ("Title") (hereinafter referred to as the  "Land") to Twinicon for a total consideration of Ringgit Malaysia Forty-Five Million  (RM45,000,000.00) only.

Please refer to the attachment for the full details. 

This announcement is dated 24 March 2026.