For consistency purposes, the abbreviations and definitions used throughout this announcement shall have the same meanings as those previously defined in the announcements made on 28 October 2022.

Further to the Company's announcement made on 28 October 2022 pertaining to the Term Sheet entered into between Lagenda Etika Sdn. Bhd. (“LESB” or the “Developer”), a wholly-owned subsidiary of ACME and Pertubuhan Keselamatan Sosial (“PERKESO” or the “Landowner”) whereby the Developer will undertake the proposed planning, design, construction and completion of the development of (i) 1 Block of 48 storey Service Apartment, (ii) 8 storey car park and commercial retail (2 storey) and (iii) 1 storey basement car park (the “Project”) to be erected and/or constructed on the development land held under No. Hakmilik: Geran 34211, Lot No. 94, Seksyen 58, Bandar Kuala Lumpur, Daerah Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur measuring approximately 1.87 acres (approximately 7552.199 square meters) in total area (the “Development Land") which shall be subject to the approved development order issued by Dewan Bandaraya Kuala Lumpur dated 31st October 2017 and variation and/or changes/amendments/modifications of the development order issued by the relevant authorities from time to time (the "Development Order”) and subject to a definitive agreement (the “Definitive Agreement”) to be entered into by the Landowner and the Developer. 

The Board of Directors of the Company wishes to announce that there is no material development on the status of the MOU as announced previously.

This announcement is dated 27 January 2023.