The Board of Directors of DPS (“Board”) wishes to announce that has today entered into a Share Sale Agreement (“SSA”) with Biotrend for a total purchase consideration of RM2.00 (“Purchase Consideration”) with the liabilities of the debtors and creditors to be assumed by DPS.

The Board had on 8 April 2022 announced that Shantawood Sdn Bhd, a wholly owned subsidiary of DPS, had entered into a JDA (“JDA”) with Biotrend to jointly develop the Melaka Land into mixed development projects (“Mixed Developments” or “Projects”). The Board had on 21 December 2022 announced a Deed of Rescission between SSB and Biotrend to rescind and revoke the Joint Development Agreement that were previously entered into by SSB and Biotrend.

Please refer to the attached document for further details.

This announcement is dated 21 December 2022.