The Board of Directors of PASDEC (“Board”) wishes to announce that the Company's wholly-owned subsidiary, Pasdec Corporation Sdn. Bhd. (“PCSB” or “Landowner”), had on 30 January 2023 entered into a Joint Venture Agreement (“Agreement”) with Sedimi Property Development Sdn. Bhd. ("SPDSB" or “Developer”) for the development of land at Bandar Indera Mahkota, Mukim Kuala Kuantan, District of Kuantan, Pahang.

Further details on the Proposed Development is set out in the ensuing attachment.

This announcement is dated 30 January 2023.