On behalf of the Board of Directors of FHB (“Board”), Kenanga Investment Bank Berhad (“Kenanga IB”) wishes to announce that FHB and Sinaran Urusjuta Sdn. Bhd. (“SUSB”), a wholly-owned subsidiary of FHB, had on 17 April 2025, entered into a shareholders agreement (“Shareholders Agreement”) with BKG Development Sdn Bhd (“BDSB”), a wholly-owned subsidiary of Chin Hin Group Property Berhad ("CHGPB”), for the subscription of 1,166,667 new ordinary shares in SUSB (“SUSB Share(s)”) by BDSB, representing 70% of the enlarged issued ordinary shares of SUSB, for a subscription consideration of RM1,166,667 to be settled in cash. The Shareholders Agreement shall regulate their rights and obligations as shareholders in relation to the operation of SUSB as a proposed joint venture between FHB and BDSB to undertake a development on a parcel of leasehold commercial land owned by SUSB (“Proposed Development”) (“Proposed Joint Venture”).

In conjunction with the Proposed Joint Venture, FHB had on even date entered into a subscription agreement with BDSB for the subscription by FHB of 442,000 new redeemable preference shares in BDSB (“RPS”) for a nominal subscription price of RM0.0001 per RPS, for a total consideration of RM44.20 ("Proposed RPS Subscription”) ("Subscription Agreement”). 

Further details on the Proposed Joint Venture are set out in the attached file.
 

This announcement is dated 17 April 2025.