Business Overview

5. BUSINESS OVERVIEW 5. BUSINESS OVERVIEW 5.1 OVERVIEW We are principally an investment holding company, while the principal activities of our subsidiary companies are as follows: Effective equity interest Subsidiary companies (“!o) Principal activities BSS Development  100  Property development and sales of land  Masuda Corporation  100  Property development and investment holding  Matrix  100  Property development and investment holding  MCHB Natro’  100  Landscape management  1 Sendayan Education  100  Intended  principal  activity  is  provision  of  education services  Riverine Projects  100  Property development  Superb Approach  100  Property development and investment holding  Seventech  100  Property development  MCHB Properties  100  Intended principal activity is property investment  and rental of properties  Pembinaan Juwasan  100  Project management  Insani Utama  100  Property development  MCHB Management  100  Provision  of  management  and  administrative  services  1 Sendayan Club  100  Intended principal activity is clubhouse operations  Kris Benua  100  Project management  Juwasan Maju  100  Project management and procurement of building  materials  Juwasan Trading  100  Procurement of bUilding materials
Our Group is focused on building affordable residential and quality residential and commercial properties that are able to meet the demands for medium-end properties. The strength of our Group include amongst others, our marketing strategies, delivering end-products ahead of schedule, good customer service and a te?m of committed and responsible workforce. In line with demand for higner-end residential properties as well as part of “Our expansion· plan, our Group began to venture into development projects that cater to the upper-middle and higher end markets in Bandar Sri Sendayan as well as other locations in Seremban, Negeri Sembilan as well as the district of Kluang, Johor. Presently, our Group is undertaking the development of two township projects known as Bandar Sri Sendayan in Seremban, Negeri Sembilan and Taman Seri Impian in Kluang, Johor. Further details on our property development projects are set out in Sections 5.5.6 and 5.7 of this Prospectus. We will continue to focus on future property development projects in Seremban, Negeri Sembilan and Kluang, Johor. In addition to the residential, commercial and industrial properties, our Group has commenced development of our own leisure property in Bandar Sri Sendayan and will commence development of our own institutional properties in Bandar Sri Sendayan. Our other future development projects comprising residential and/or commercial properties are the Third 9 Residence, Lobak Commercial Centre and Kota Gadong Perdana in Seremban as well as Taman Seri Impian in Kluang. Further details on our future plans are set out in Section 5.7.2 of this Prospectus. 5. BUSINESS OVERVIEW (Cont’d) 5.2 COMPETITIVE ADVANTAGES AND KEY STRENGTHS 5.2.1 We have developed a new integrated township Our new integrated township in Bandar Sri Sendayan in Seremban, Negeri Sembilan comprises residential, commercial, institutional, government, leisure and industrial developments. The size of the integrated township is 5,233 acres. As at the LPD, the township is partially completed with basic public amenities, residential properties and retail businesses. Some of the retail businesses are already operational. It is expected that the development of Bandar Sri Sendayan will attract various businesses to invest and set up operations in the new township, which would stimulate economic activities in the local community. As such, our developments would benefit from the growth potential in the new township, thus increasing the demand for our properties.
5.2.2 Our new township in Bandar Sri Sendayan is strategically located Our on-going development of a new integrated township in Bandar Sri Sendayan is strategically located among other large developments and townships, as well as served by good infrastructure including roads, highways and railways. Being located among other major developments will benefit Bandar Sri Sendayan through spill-over effects as well as creating the critical mass required to provide growth for the state. All these will attract further commercial and industrial investments, and encourage more residential investments in the area. In addition, Seremban is one of the areas of emphasis for the National and State Government, where Seremban is part of the Kuala Lumpur Conurbation, the National Growth Conurbation, which is a level 1 priority development under the National Physical Plan. The planning strategies for the Kuala Lumpur Conurbation include enhancement of inter-urban and intra-city movement and promotion of development within the regions. As at the LPD, the GDV of the Bandar Sri Sendayan Integrated Township is estimated at RM1.7 billion based on completed and on-going developments.
5.2.3 We have on-going and future projects up till 2019 As at the LPD, our Group has various on-going projects, which we started in 2010 and are scheduled to be completed by September 2014 with an estimated GDV of RM1.4 billion. In addition, between June 2013 and 2019, we plan to undertake various property development projects in Seremban, Negeri Sembllan and Kluang, Johor, with an estimated total GDV of RM5.2 billion excluding educational institutions and Sendayan Icon Park. Our continuous projects will ensure sustainability of our business and provide growth opportunities for our Group. Further details of our on-going and future projects are disclosed in Section 5.5.6 of this Prospectus. 5. BUSINESS OVERVIEW (Cont’d) 5.2.4 We achieved high take-up rates for properties developed by us Since the commencement of our business and as at the LPD, we have sold a total of 20,056 units of completed residential and commercial properties, which represented 99.9% of all completed properties developed by us, which amounted to 20,079 units. Our high take-up rate for our properties indicates the strong demand for properties developed by us and the confidence level of customers regarding the quality and value of properties developed by us. This is a key advantage for us, as our track record of high take-up rate will provide us with the platform to develop and successfUlly sell our future properties. 5.2.5 We have an established track record We have an established track record spanning approximately 16 years for our property development business. As at LPD, our Group had developed and launched approximately 23,000 units of residential, commercial and industrial properties. Our proven track record provides us with the following advantages and benefits: Over the years we have built a strong reputation, which provides us with high awareness to attract new customers; Our long years of experience provide some level of confidence of our ability to deliver, and the quality of our products and seNices. Our proven track record provides us with a key competitive advantage particularly when compared to property developers with a shorter history. 5.2.6 We have a diversified product portfolio We have a diversified property portfolio, which includes residential, commercial and industrial properties. We also supply undeveloped land. In our on-going and future projects, we also have leisure and institutional properties. Within our residential property portfolio, we have developed and successfully sold bungalows, semi-detached houses, terrace houses and low-cost flats and townhouses. Our commercial and industrial properties are land and shop offices primarily built within the vicinity of our developed residential properties. Our diversified product portfolio provides us with the advantage of growth opportunities, as well as business diversification to mitigate risk from over­dependency in anyone area. 5.2.7 We have experience in jOint-venture projects with the State Governments Our Group has undertaken various projects through joint-venture with State Governments as well as government agencies and entities in Negeri Sembilan and Johor since 1999. Some of these include MBI, Yayasan Negeri Sembilan, South East Johore Development Authority and Housing and Local Government Unit of Negeri Sembilan. These projects include Taman Andalas, Taman Gadong Jaya, Taman Sendayan Indah, Taman Anggerik Tenggara, Taman Permai Impian, Taman Sri Intan and Bandar Sri Sendayan. Joint-venture projects with Government bodies accounted for 43.6%, 94.6% and 74.2% of the GDV of completed, on-going and future projects, respectively. Company No.: 414615-UJ 5. BUSINESS OVERVIEW (Cont’d) Our experience in undertaking property development projects through joint-venture with various government departments, agencies and entities would assist us in bidding for new joint-venture projects with the government based on our past track record. Based on our track record, we have undertaken significant amount of joint­venture with Government bodies based on GDV. This is part of our overall business strategy of entering into joint-ventures with or purchasing land from whomever that helps maximise our profitability. Such entities could be Government bodies or private enterprises. 5.2.8 Growth in launch prices of properties developed by us Over the years, our Group’s development properties have shown increase in the launch price as listed in the table below:
Nusari Bayu Series Nusari Bayu 1 Nusari Bayu 2A Nusari Bayu 3 ­Parcel 1 Nusari Bayu 3­Parcel 2 Nusari Aman Series Nusari Aman 1A Nusari Aman 2A Nusari Aman 1B Nusari Aman 2 Nusari Aman Idaman Bayu Series Idaman Bayu 1 Hijayu Series Hijayu 1B 81,888 100,888 173,032 194,782 132,707 149,504 150,559 177,554 191,302 149,888 228,554 84.86 104.12 127.70 143.75 129.72 133.13 122.11 145.42 141.18 112.53 146.51 03 March 2008 16 November 2009 24 February 2011 25 July 2011
07 June 2010 22 November 2010 13 February 2011 30 November 2011 02 May 2012
01 February 2010 25 September 2012 103,888 119,754 182,599 199,260 143,452 153,022 172,699 183,821 193,912 171,936 240,457 107.66 123.59 134.76 147.06 140.23 136.26 140.06 150.55 143.11 129.08 154.14 09 March 2010 10 December 2010 29 July 2011
02 April 2012 27 April 2011 22 June 2011 02 April 2012 08 October 2012 03 September 2012 01 November 2010 29 November 2012 26.9 18.7 5.5 2.3 8.1 2.4 14.7 3.5 1.4 14.7 5.2 24 13 5 9 10 7 14 11 4 9 2 Nusari Bayu  Series  Nusari Bayu 3 ~  254,054  Parcel 1  Nusari Bayu 3 ~  289,612  Parcel 2
108.11 123.24 08 February 281,599 119.83 12 July 2011 10.8 5 2011 21 July 2011 307,840 131.00 05 April 2012 6.3 9
5. BUSINESS OVERVIEW (Cont’d)
Nusari Aman Series Nusari Aman 2A Nusari Aman 1B Nusari Aman 2 Nusari Aman Idaman Bayu Series ldaman Bayu 1 Hijayu Series Hijayu 18 Nusari Aman Series Cosmoxia Nusari Aman 2A Industrial Lot 207,407 213,739 262,554 279,172 248,888 347,554 103.29 105.55 112.88 116.96 100.81 129.44 Sing/~StoreySemi-detached Houses 297,404 168.50 314,899 178.41 29 October 2010 06 May 2011 29 November 2011 02 July 2012 10 February 2010 27 September 2012 13 December 2010 28 January 2011 224,301 262,632 277,432 281,782 263,021 355,732 331,096 331,096 111.70 129.69 119.27 118.05 106.53 132.49 187.59 187.59 24 May 2011 29 November 2011 18 December 2012 08 November 2012 15 April 2011 28 December 2012 22 March 2012 29 November 2011 8.1 22.9 5.7 0.9 5.7 2.4 11.3 5.1 7 6 13 4 14 3 15 10 5. BUSINESS OVERVIEW (Cont’d) Notes: These are based on sales ofour newly developed properties. Properties for Initial Phase Sales and Later Phase Sales are similar based on location, lot size, built-up area as well quality and finishing. N/A Not applicable
5.2.9 We have high impact Government and industrial developments The developments of the new academia and training centre of the Royal Malaysian Air Force and Sendayan TechValley are expected to spur economic growth in Bandar Sri Sendayan. This is due to the fact that the academia and training centre will house a large number of air force officials and their family members while Sendayan TechValley has already attracted various international automotive and aviation players to establish their operations in the area within Bandar Sri Sendayan. The increased population of air force officials and their families as well as the workforce based in Sendayan TechValley will attract various retail businesses, which will increase economic activities in Bandar Sri Sendayan. Establishment of operations by international automotive and aviation players would also attract their vendors and suppliers to set-up their operations in the vicinity as a result of cost savings and business opportunities.
5.2.10 We have qualified and experienced management team We have a management team with qualified and experienced personnel to lead and manage our business operations. Our Group Managing Director I Chief Executive Officer, Dato’ Lee Tian Hock is a graduate with a Bachelor of Science (Honours) Degree in Housing, Building and Planning with approximately 30 years of experience in the property development industry. Our Group Deputy Managing Director I Chief Operating Officer, Mr Ho Kong Soon is a graduate with a Bachelor of Science (Honours) Degree in Engineering and has more than 20 years of experience in the property development industry. In addition, our key management team also include qualified accountants and engineers. Our management team of qualified and experienced personnel is beneficial for our Group’s business operations, future growth and sustainability. 5.3 BUSINESS STRATEGIES 5.3.1 Overall Strategy Our strategic vision is to undertake strategic property development projects and bUilding key townships, using land that is cost competitive to enable us to create value for our shareholders. When we started our business in the late 1990’s, we were involved in relatively small developments with GDV ranging from RM3.0 million to RM35.0 million per project. Our focus at that time was on building small clusters of residential landed properties and low cost flats, and some shop offices. These jobs have given us the necessary experience and developed our skills to enable us to undertake larger projects. 5. BUSINESS OVERVIEW (Cont’d) Over the years, we have undertaken larger and more projects simultaneously including multi-phased residential and commercial developments. Towards the end of 2000 a number of our projects had GDV in excess of RM100.0 million per project. In the last two to three years, we had started to undertake major mixed residential and commercial developments. One example is our Taman Seri Impian in Kluang, Johor with GDV of approximately RM490.0 million based on our completed and on­going projects. In addition, we started our conceptualisation and development of an integrated township incorporating residential, industrial, commercial, leisure, institutional, government and agricultural properties in Bandar Sri Sendayan on a previously undeveloped piece of land in Negeri Sembilan. Our Bandar Sri Sendayan flagship project in total covers 5,233 acres. While our residential development covers middle and high-end residential properties, our development also include an industrial park that is planned for high-technology conglomerates that service the global markets. other planned developments include among others, shop offices, retail cluster small-office/home-office (SoHo) buildings, educational institutions, clubhouse as well as a trade and exhibition centre. In addition, we have also sold a large parcel of undeveloped land in Bandar Sri Sendayan for development of properties and facilities for the Royal Malaysian Air Force. Some of the expected developments to be undertaken by 1MDB will include residential properties for air force officials, administrative buildings and facilities, air force academia and training centre, golf course and leisure properties. The development is expected to commence in the third quarter of 2013 while the completion is expected by 2016. This will increase the critical mass in the vicinity to help sustain and grow our Bandar Sri Sendayan township. As at LPD, our Bandar Sri Sendayan township project amounted to a GDV of approximately RM1.7 billion based on completed and on-going developments. Our overall business strategic direction is to create new townships or major property developments on undeveloped or under developed areas by incorporating unique developments that will provide critical mass to sustain business growth. THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK

 

5. BUSINESS OVERVIEW (Cont’d) 5.3.3 Strategic advantages of Bandar Sri Sendayan Located in Seremban, Negeri Sembilan, Bandar Sri Sendayan has the following advantages: Close proximity to various townships and industrial areas in Negeri Sembilan to benefit from spill-over effects Well planned infrastructure and public facilities to enhance lifestyle of local residents Connected to various transportation networks One of the National and State Government’s main focus deveiopment areas to spur economic growth Home to the new academia and training centre of the Royal Malaysian Air Force Close Proximity to Various Townships and Industrial Areas Bandar Sri Sendayan is located close to various townships and industrial areas in Negeri Sembilan, which include, among others: Seremban 2 S2 Heights Bandar Enstek Bandar Ainsdale Oakland Commercial Centre and Industrial Park Tuanku Jaafar industrial Park Senawang Industrial Park Nilai Industrial Estate. The strategic location of Bandar Sri Sendayan amongst other townships and developments will enable it to benefit from the spill over effects while together they create a critical mass to further encourage communities to grow and to attract visitors to stimulate the local economy of the state. Bandar Sri Sendayan will benefit from the socio-economic activities and transportation links in the neighbouring townships and industrial areas. in addition, the variety of businesses and industries in the vicinity would also create industry linkages to spur the economic growth, which would attract businesses and home buyers to invest in Bandar Sri Sendayan. 5eremban 2 and 52 Heights Seremban 2 is a township comprising residential communities, several schools, a 15­acre city lake park, a sports complex, a modern shopping centre and commercial business parks. It is also home to the state government and locai authorities. S2 Heights is an extension of Seremban 2 which comprises mainly residential properties as well as a 6.6 acre linear park for social, community and recreational activities. 5. BUSINESS OVERVIEW (Coni’d) Bandar Enstek Bandar Enstek is an integrated development with residential areas, industrial hub, commercial hub and institutional zones. The industrial hub of Bandar Enstek is developed to cater to the high-technology and non-polluting industries such as biotechnology, green technology and information and communication technology industries. Some of the investors in Bandar Enstek include a globally known soft drink bottler, halal institute and development corporation, biotech centre and data centre. Various other international companies as well as private and government agencies are also expected to begin operations in the industrial hub. Bandar Enstek also consists of an education hub which comprises among others, a polytechnic, a fully residential girls school, an education leadership and management training institute, an English learning centre, an international school and a private college. Bandar Enstek will also be a medical city with several private hospitals, medical research labs and pharmaceutical factories currently under development. Oakland Commercial Centre and Industrial Park Oakland Commercial Centre and Industrial Park comprise commercial and industrial areas. Various businesses as well as international companies from United States and Japan set-up their tobacco processing facility and cultured drink manufacturing facility in these areas. Public amenities such as a hospital and hypermarket as well as highways are located close to the Oakland Commercial Centre and Industrial Park. Bandar Ainsdale Bandar Ainsdale is an affordable housing area for the 1Malaysia Housing Programme. The township will incorporate residential and commercial developments as well as a proposed train station to serve as its public transportation terminal. Industrial Areas Some of the nearby industrial areas include Tuanku Jaafar Industrial Park, Senawang Industrial Park and Nilai Industrial Estate. These industrial areas are home to various international companies and conglomerates from South Korea, United Kingdom, United States, Switzerland, Netherlands, India and Japan. These companies are mainly involved in the manufacturing of electronic and electrical products and components, manufacturing of machinery, processing of food products, manufacturing of polyester products as well as manufacturing of adhesive, abrasive, laminates, dental, medical and car care products. THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK

5. BUSINESS OVERVIEW (Cont’d) Seremban is also one of the development focus area in Negeri Sembilan. Negeri Sembilan is currently planning several projects to develop the State into a leading biotechnology centre, high-technology service centre for aircraft technology maintenance through the establishment of an Aerospace Park, and a logistics and air freight hub in the Nilai-KLIA corridor. In addition, the state is also seeking inter-state collaboration to create Cyberjaya-Salak Tinggi-Niiai as a cyber corridor for knowledge industries focussed on information technology and research and development (R&D). All the development initiatives undertaken by the State Government to promote the locai economic activities would attract a large popuiation of workforce. This would benefit the surrounding areas in Seremban, including Bandar Sri Sendayan with increased demand for residential properties from home buyers as well as commercial and industrial properties from business investors. Institutional and leisure properties would also be required to satisfy educational and recreational needs of the local communities. Home to the New Academia and Training Centre of Royal Malaysian Air Force Bandar Sri Sendayan will be the home to the new academia and training centre of the Royal Malaysia Air Force, which among others, will incorporate the relocation of the existing base in Sungai Besi, Kuala Lumpur. The new site in Bandar Sri Sendayan is expected to be completed with residential properties for air force officials, administrative buildings and facilities, air force academia and training centre, golf course and other leisure properties. THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK 5. BUSINESS OVERVIEW (Cont’d) 5.4 KEY ACHIEVEMENTS, MILESTONES AND AWARDS 5.4.1 Key achievements and milestones Our key achievements and milestones since inception are as follows: Year Key achievements and milestones 1997 0 Matrix commenced operations as a property development company. o Commenced development of our maiden property development project, Taman Bahau, a mixed residential and commercial development, through joint-venture with landowner, Beg Development Sdn Bhd. 1998 0 Masuda Corporation acquired 21 acres of land in Kuala Pilah, Negeri Sembilan to develop Taman Putra, a mixed residential and commercial property. 1999 0 Masuda Corporation embarked on a jOint-venture arrangement with MBI to develop Taman Andalas (Phase 1 and 2) on a land area of approximately 39 acres. Phase 1 of Taman Andalas launched with 90% of units sold within 6 months. o Commenced development of Taman Putra.
o Completed development of Taman Bahau with all units sold.
o Acquired 100% stake in 1 Sendayan Club, a property development company, and 50% stake in Kris Benua, a plantation company.

2000 0 Acquired 70% stake of Insani Utama, a property development that has entered into a joint-venture arrangement with Yayasan Negeri Sembilan to develop Taman Gadong Jaya, a mixed residential and commercial development in Seremban. o Completed development of Taman Putra and Phase 1 of Taman Andalas.
o Commenced and completed Taman Sri Telawi, a residential development in Seremban and Taman Pedas Indah, a mixed residential and commercial development in Pedas undertaken as a result of a joint­venture arrangement with between Matrix and landowner, Omega Touch Sdn Bhd.
o Commenced development of Phase 1 of Taman Intan Perdana 1, 2 and 3 in Port Dickson, a mixed residential and commercial development.
o Commenced development of Phase 2 of Taman Andalas in Mantin, which was the result of a joint-venture between Masuda Corporation and MBI for the development of low cost flats.

Commenced development of Intan Court in Port Dickson, a residential development of low cost flats. 2001 0 Commenced development of Phase 1 and 2 of Taman Gadong Jaya, and Taman Sri Anggerik in Rantau, a residential development. o Completed the entire development of Phase 1 of Taman Intan Perdana 1,2 and 3, and Phase 2 of Taman Andalas. 2002 0 Commenced development of Phase 3 of Taman Gadong Jaya, Taman Intan Perdana V(a) and (b) and Taman Bukit Perdana in Port Dickson, primarily residential developments. o Commenced deveiopment of Taman Sendayan Indah in Seremban, which was the result of a joint-venture between Insan! Utama and MBI for a mixed residential and commercial development. 56 5. BUSINESS OVERVIEW (Cont’d) Year Key achievements and milestones o Completed development of Taman Sri Anggerik and Intan Court.
o Riverine Projects entered into joint-venture agreement with Majlis Agama Islam Negeri Sembilan for the development of Kola Gadong Perdana.
o Matrix acquired 109 acres of land in Port Dickson to develop Taman Politeknik, a mixed residential and commercial development.
o Insani Utama became a wholly owned subsidiary.
o Acquired 100% stake in 1Sendayan Education, a dormant company to undertake property development and acquired a 100% slake in MCHB Natro’, a property development company.

2003 0 Commenced and completed development of Phase 4 of Taman Gadong Jaya, the last phase of the Taman Gadong Jaya development. o Commenced development of Arowana Impian in Seremban 2, Malahari Height in Bandar Senawang, and Taman Politeknik in Port Dickson, all were mixed residential and commercial developments.
o Completed development of Taman Intan Perdana V(a) and (b), Taman Bukit Perdana and Taman Sendayan Indah.
o Matrix acquired approximately 110 acres of land to develop Taman Desa PD.

2004 0 Acquired 100% stake of Seventech, a property development company to expand to Johor. Commenced development of Phase 1 of Taman Anggerik Tenggara, our first project in Johor, through joint-venture arrangement with South East Johore Development Authority. o Kris Benua became a wholly owned sUbsidiary.
o Commenced development of Taman Bukit Perdana II in Port Dickson, a residential development and Taman Permai Impian, a mixed development, which was the result of a joint-venture arrangement with Yayasan Negeri Sembilan.
o Masuda Corporation acquired 55 acres of land in Seremban to develop Taman Pulai Impian, a residential development.
o Completed development of Arowana Impian, Malahari Height, Taman Politeknik and Taman Bukit Perdana II.

2005 0 Commenced development of Taman Desa PD 1, a mixed development and Taman Pulai Impian, our first gate and guarded residential development. o Completed development of Taman Permai Impian.
o Matrix entered into a joint-venture with Koperasi Kemajuan Tanah Negeri Johor Berhad to develop our first flagship township development in Taman Seri Impian in Kluang, Johor.
o BSS Development entered into a joint-venture with MBI to develop our second flagship integrated development project in Bandar Seri Sendayan in Seremban.
o Matrix and MCHB Management accredited with ISO 9001 :2000 status, by BM TRADA Certification Ltd.

2006 • Launched the first two phases of the Taman Seri Impian township development with Taman Seri Impian 1 and Impiana Avenue 1. o Commenced development of Matrix Point, a small commercial development, Taman Bukit Sendayan, a residential development, and Arowana Indah, a residential and commercial development. 57 5. BUSINESS OVERVIEW (Cont’d) Year Key achievements and milestones • Completed development of Taman Desa PD 1, Taman Pulai Impian and Taman Anggerik Tenggara 1. 2007 • Commenced development of Parcel 1 and 2 of Taman Seri Impian 2, Matahari Indah, a residential development, Matrix Court, a commercial development and Taman Sri Intan, a residential and commercial development through a joint-venture arrangement with the Housing and local Government Unit of Negeri Sembilan. • Completed development of Matrix Point and Arowana Indah.
• MCHB Natro’ changed its business activity to landscape management.

2006 • Completed development of Taman Seri Impian 1, Taman Bukit Sendayan, Matahari Indah and Taman Sri Intan. • launched first two phases of developments in Bandar Sri Sendayan, a residential area namely Nusari Bayu 1 and commercial plots at Sendayan Metropark.
• Completed and delivered 500 units of bungalows for Idaman Villa as part of the joint-venture agreement with the MBI.
• Entered into a joint-venture with Reka Property Venture Sdn Bhd to develop a mixed residential development namely Taman Pulai Perdana in Seremban.
• Commenced development of Taman Pulai Perdana in Seremban and

Taman Anggerik Tenggara 2 in Bandar Tenggara. 2009 • Commenced development of Impiana Garden of Taman Seri Impian 3. • Commenced on the next phase of our flagship integrated township development in Bandar Sri Sendayan, Seremban namely Nusari Bayu 2A.
• Commenced residential development of Taman Desa PD II (Phase 1).
• Completed development of Impiana Avenue 1, Parcel 1 of Taman Seri Impian 2, Taman Pulai Perdana, Taman Anggerik Tenggara 2 and Matrix Court.
• Matrix, MCHB Management and Juwasan Maju upgraded from Quality Management System ISO 9001 :2000 to ISO 9001 :2006. accredited by BM TRADA Certification ltd.

2010 • Commenced development of Impiana Avenue 2 and two phases in Taman Seri Impian 3, Impiana Villa 1 and Impiana Casa 1 of Taman Seri Impian 4. • Commenced development of seven different phases of Bandar Sri Sendayan comprising residential and commercial properties as well as industrial plots.
• Completed development of Parcel 2 of Taman Seri Impian 2 and Impiana Garden 1 of Taman Seri Impian 3 as well as Nusari Bayu 1 and Sendayan Metropark in Bandar Sri Sendayan.

2011 • Completed development of two phases of Taman Seri Impian 3 and Impiana Avenue 2, Taman Desa PD II (Phase 1) as well as six phases in Bandar Sri Sendayan. • Completed and delivered 320 units of single-storey bungalows in Taman Impiana Kopketa as part of our fulfilments of the joint-venture agreement with the KKTNJB.
• Acquired the remaining 25% stake in BSS Development and the company became a 100% subsidiary of our Group, with one preference share held by MBI.

56 5. BUSINESS OVERVIEW (Cont’d) Year Key achievements and milestones • Disposed a piece of land measuring 750 acres to 1MOB for the purpose of selling up a new academia and training centre for the Royal Malaysian Air Force and the relocation of the Sungai Besi base to Bandar Sri Sendayan.
• Continued to begin development on five new phases in Bandar Sri Sendayan, which comprised residential and commercial properties as well as industrial plots.

2012 • Signed a sales and purchase agreement with Hino Motors Manufacturing (Malaysia) Sdn Bhd for the sale of an industrial plot at Sendayan TechValley 2. • Began the development of Taman Desa PO 3, a residential property project in Port Dickson.
• Signed a sales and purchase agreement with Akashi-Kikai Industry (M) Sdn Bhd for the sale of 6 lots of industrial plots at Sendayan TechValley
1.
• Signed a sales and purchase agreement with Messier-Bugalli-Dow1y Malaysia Sdn Bhd for the sale of an industrial plot at Sendayan TechValley 2.
• Signed a sales and purchase agreement with Keen Point (M) Sdn Bhd for the sale of 3 lots of industrial plots at Sendayan TechValley 2.
• Signed a sales and purchase agreements with Meditop Corporation (M) Sdn Bhd for the sales of 3 industrial plots at Sendayan TechValley 2.
• Signed a sales and purchase agreement with TMC Metal (Malaysia) Sdn Bhd for the sale of an industrial plots at Sendayan TechValley 1
• Launched seven new phases in Bandar Sri Sendayan, comprised residential properties and a clubhouse as well as Impiana Casa 2 in Taman Seri Impian 4.
• Completed development of Phase 1 of Nusari Bayu 3 in Bandar Sri

Sendayan and Impiana Villa 1 in Taman Seri Impian. 2013 • Completed Phase 2 of Nusari Bayu 3 in Bandar Sri Sendayan. • Signed a sales and purchase agreement with MBMR Properties Sdn Bhd for the sale of 4 lots of industrial pl·ots at Sendayan TechValley 2.
• Signed a sales and purchase agreement with Resort & Leisure Homes Sdn Bhd for the purchase of a piece of vacant land, which is to be used for a residential condominium building.

5.4.2 Awards As at the LPD, our Group has not received any material awards and recognitions. 5.5 PRINCIPAL BUSINESS ACTIVITIES 5.5.1 Business model Our principal business is in the sales of land and property development. Our sales of land include large tract of undeveloped land. Our property development currently includes residential, commercial and industrial properties. As at the LPD, we are also undertaking development of our own leisure property. 5. BUSINESS OVERVIEW (Cont’d) For the FYE 31 December 2012, our total revenue amounted to RM456.1 million. In the same year, our revenue from sales of land and our property development represented 7.3% and 92.7% of our total Group revenue, respectively. 5.5.2 Revenue and gross profit segmentations by business activities The breakdown of our Group’s revenue by business activities for FYE 31 December 2009,2010,2011 and 2012 are as follows:
-Residential Properties  187,405  · Terrace houses  183,577  · Bungalows  · Semi-detached houses  3,828  Commercial Pro erties  16,241  Industrial Properties
91.8  176,743  90.4  254,719  89.9  171,534  87.7  206,508  27,220  1.9  5,209  2.7  20,991  8.0  18,614  9.5  31,612  21,389
40.8  33.1  4.3  3.4  5.1  3.4
328,060  71.9  289,179  63.4  35,482  7.8  3,399  0.7  15,155  3.3  79,830  17.5

For the FYE 31 December 2009, revenue from property development amounted to RM203.6 million, representing 99.8% of our total revenue. The bulk of the revenue were from sale of residential properties, which accounted for 91.8% of our tolal revenue while commercial properties contributed 8.0% to our tolal revenue for the FYE 31 December 2009. Sales of land accounted for 0.2% or approximately RM400,000 of our tolal revenue for the FYE 31 December 2009. For the FYE 31 December 2010, the largest revenue contributor was residential properties which accounted for 90.4% of our tolal revenue, while commercial properties accounted for 9.5% of our tolal revenue. Sales of land represented the remainder 0.1 % of our tolal revenue for the FYE 31 December 2010. For FYE 31 December 2011, sales of land accounted for 50-7% of our tolal revenue, amounting to RM316.5 million. This was mainly contributed by the sale of the 750-acre plot of undeveloped land to 1MDB for the purpose of setting up a new academia and training base of the Royal Malaysian Air Force and to relocate the operations in Sungai Besi to Bandar Sri Sendayan in Negeri Sembilan. For FYE 31 December 2011, property development accounted for 49.3% of our tolal revenue, amounting to RM307.7 million. Of this, residential properties accounted for 40.8% of our revenue, which amounted to RM254.7 million. I 5. BUSINESS OVERVIEW (Cant’d) For FYE 31 December 2011, our revenue from residential properties was mainly contributed by the sales of terrace houses, which contributed 33.1 % of our total Group revenue. This was followed by bungalows and semi-detached houses which contributed 4.3% and 3.4% to our Group revenue, respectively. For FYE 31 December 2011, the development of commercial and industrial properties accounted for 5.1 % and 3.4% of our total Group revenue. These were contributed by sales of single-storey and double-storey shop offices as well as commercial and industrial plots. For FYE 31 December 2012, property development accounted for 92.7% of our total revenue, amounting to RM423.o million. Of this, residential properties accounted for 71.9% of our revenue, which amounted to RM328.1 million for the financial year ended 31 December 2012. . For FYE 31 December 2012, our revenue from residential properties was mainly contributed by the sales of terrace houses, which contributed 63.4% of our total Group revenue. This was followed by bungalows and semi-detached houses which contributed 7.8% and 0.7% to our Group revenue, respectively. For FYE 31 December 2012, the development of commercial and industrial properties accounted for 3.3% and 17.5% of our total Group revenue. These were contributed by sales of double-storey and three-storey shop offices as well as industrial plots. For FYE 31 December 2012, sales of land accounted for 7.3% of our total revenue, amounting to RM33.o million. The breakdown of our Group’s GP by business activities for FYE 31 December 2009 is as follows:

• Additional costs for completed projects For the FYE 31 December 2009, property development accounted for 100.0% of our total Group’s GP and recorded 22.8% GP margin. 5. BUSINESS OVERVIEW (Cont’d) The breakdown of our Group’s GP by business activities for the FYE 31 December 2010 is as follows:
-Residential Properties  49,834  87.9  28.2  · Tefface houses  47,339  83.5  27.6  · Semi-detached houses  2,495  4.4  47.9  -Commercial Properties  6,883  12.1  37.0

Note: # Insignificant For the FYE 31 December 2010, property development accounted for 100.0% of our total Group GP and recorded 29.0% GP margin. The breakdown of our Group’s GP by business activities for FYE 31 December 2011 is as follows:
-Residential Properties  95,649  64.4  37.6  · Terrace houses  74,334  50.1  36.0  · Bungalows  11,067  7.4  40.7  · Semi-detached houses  10,248  6.9  48.8  -Commercial Properties  13,795  9.3  43.6  -Industrial Properties  9,352  6.3  43.7

Notes: n.a. not applicable Reversal ofcost from completed project 5. BUSINESS OVERVIEW (Cont’d) For FYE 31 December 2011, sales of land accounted for 50.7% of our total Group revenue while its contribution to the total Group GP was 19.6% with a GP margin from sales of land at 9.2%. The GP margin for sales of land was low as the undeveloped land was sold on an “as is” basis by our Group. Property development accounted for 80.0% of our total Group GP despite its lower revenue contribution of 49.3% to our total Group revenue. Property development recorded 38.6% GP margin which was higher compared to the sales of land for FYE 31 December 2011. The breakdown of our Group’s GP by business activities for FYE 31 December 2012 is as follows:
113,527 58.9 39.3 13,202 6.9 37.2 2,004 1.0 59.0 5,545 2.9 36.6 50,805 26.3 63.6 For FYE 31 December 2012, property development accounted for 96.0% of our total Group GP. Property development recorded 43.8% GP margin which was higher compared to the sales of land for FYE 31 December 2012. For FYE 31 December 2012, sales of land accounted for 4.0% of our total Group’s GP with a GP margin of 23.1 %. The GP margin for sales of land was lower compared to property development as the undeveloped land was sold on an “as is” basis by our Group. THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK I 5. BUSINESS OVERVIEW (Cont’d) 5.5.3 Location of principal place of business We currently operate from the following premises: Name Address Purpose
Matrix Concepts Wisma Matrix Head office and Group No. 57, Jalan Tun Dr. Ismail operations centre 70200 Seremban Negeri Sembilan Matrix No. 69, Impiana Avenue Branch in Kluang to Jalan Seri Impian Y, facilitate the Group’s Taman Seri Impian activities 86000 Kluang Johor BSS No. 773A, Jalan Nusari Aman 3/1 Site office in Bandar Development Medan Nusari Sri Sendayan to 71900 Bandar Sri Sendayan facilitate the Group’s Negeri Sembilan activities PT1055, Jalan Metro Sendayan 1 Sales gallery in 71900 Bandar Sri Sendayan Bandar Sri Sendayan Negeri Sembilan 5.5.4 Products and services Our principal business is in the sales of land and property development. Our sales of land include large tracts of undeveloped land. Our property development currently includes residential, commercial and industrial properties. As at the LPD, we are also undertaking development of our own leisure property. Our property development operations are supported by our in-house capabilities in project management and procurement of building materials. Sales of land Part of our business activities is involved in the sales of land including large tracts of undeveloped land, which we do not undertake any work and there is no existing infrastructure. For the FYE 31 December 2012, the sales of land accounted for 7.3% of our total Group revenue and 4.0% of our total Group gross profit. Property development Our principal activities also include property development. For the FYE 31 December 2012, our property development business accounted for 92.7% of our total Group revenue and 96.0% of our total Group gross profit. We are engaged in developing the following types of properties: Residential properties including bungalows, semi-detached houses, terrace houses, low-cost fiats and townhouses and sub-divided plots; Commercial properties which are mainly shop offices and sub-divided plots; and Industrial properties which are mainly sub-divided plots for industrial use.
5. BUSINESS OVERVIEW (Cant’d) Our property developed involving sales of sub-divided plots refer to land that has been cleared with earthworks undertaken and some basic infrastructure. In September 2012, we commenced the development of a clubhouse in Bandar Sri Sendayan, our first foray into the development of leisure properties. We have also planned to commence the development of institutional properties within our Bandar Sri Sendayan project in the future. Since the commencement of our property development business in 1997, we have established our track record as a reputable property developer in Negeri Sembilan and Johor. This is demonstrated by the fact that as at the LPD, we have successfully launched and completed 20,079 residential and commercial properties in Negeri Sembilan and Johor since the commencement of our business. As at the LPD, we have various on-going property development projects in the following areas with a combined total estimated GDV of approximately RM1.4 billion: Port Dickson, Negeri Sembilan; Taman Seri Impian, Kluang, Johor; and Bandar Sri Sendayan, Seremban, Negeri Sembilan. 5.5.5 Principal markets Malaysia is our principal market having accounted for 100.0% of our total units sold for the FYE 31 December 2009,2010,2011 and 2012. For the FYE 31 December 2009, 2010, 2011 and 2012, our markets segmented by revenue were as follows:
Categorisaffon ofprincipal markets is based on location ofproperties and land sold. For the FYE 31 December 2009, revenue was derived from sales of our properties and land located in Negeri Sembilan and Johor. Negeri Sembilan represented 59.3% of our total revenue while Johor represented 40.7% of our total revenue. For the FYE 31 December 2010, revenue was derived from sales of our properties and land located in Negeri SembiIan and Johor. Negeri Sembilan represented 68.0% of our total Group revenue while Johor represented 32.0% of our total revenue. 5. BUSINESS OVERVIEW (Cant’d) The majority of our properties and land sold for FYE 31 December 2011 were located in Negeri Sembilan, including residential, commercial and industrial properties as well as undeveloped land. Within Negeri SembiIan itself, 80.1 % of our total Group revenue was contributed by Seremban followed by Port Dickson at 5.7%. For FYE 31 December 2011, our next largest market was Kluang, Johor which represented 14.2% of our total Group revenue. In Kluang, all units sold were either residential or commercial properties. The majority of our properties and land sold for FYE 31 December 2012 were located in Negeri Sembilan, including residential, commercial and industrial properties as well as undeveloped land. Within Negeri SembiIan itself, 81.7% of our total Group revenue was contributed by Seremban followed by Port Dickson at 0.5%. For FYE 31 December 2012, our next largest market was Kluang, Johor which represented 17.8% of our total Group revenue. In Kluang, all units sold were residential properties. THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK I Company No.: 4146ifl1J 5. BUSINESS OVERVIEW (Cont’d) 5.5.6 Summary of our Group’s development projects The table below summarises the details of our Group’s completed property development projects, properties under development and properties held for future developments, as at the LPD. (i) Completed property developments Project name I Location  Developer  Type of development  Total site area Acres  Total units launched  Total units sold  GDV RM million  Commencement Monthlyear  Completion Monthlyear  Taman Bahau PT 1205-1218, PT 1423-1596, PT 1598-1784, PT 1789-1876 and PT 1878-2009, Mukim Jelai, Jempol, Negeri Sembilan  Matrix  Single-storey terrace houses Double-storey terrace houses  49.6  559 22  559 22  32.6 1.7  June 1997 June 1997  December 1998 and March 1999 March 1999  One-and-a-half storey shop offices  14  14  0.6  June 1997  November 1998  Taman Sri Telaw! -Phase 2 PT 596-614, Mukim Ampangan, Seremban, Negeri Sembilan  Matrix  Residential lots  0.9  19  19  1.7  February 2000  June 2000  Taman Pedas Indah PT 2083-2106, PT 2108-2216 and PT 2218-2523, Mukim Pedas, Rembau, Negeri Sembilan  Matrix  Single-storey terrace houses Double-storey terrace houses  32.8  289 139  289 139  18.4 4.5  April 2000 April 2000  November 2000 November 2000
Single-storey 11 11 1.0 April 2000 November 2000 shop offices 67 I Company No.: 414615-U  I  5.  BUSINESS OVERVIEW (Cont’d)  Project name / Location  Developer  Type of development  Total site area Acres  Total units launched  Total units sold  GDV RM million  Commencement Month/year  Completion Month/year  Taman Sri Anggerik PT 8337-8532 and PT 8538-8540 Mukim Rantau, Seremban, Negeri Sembilan  Matrix  Single-storey terrace houses Double-storey terrace houses  16.6  184 15  184 15  13.4 1.6  November 2001 November 2001  June 2002 June 2002  Matahari Height PT 1206-1209, PT 1365-1366, PT 4087-4128, PT 4130-4205, PT 4210-4230, PT 4233-4316, PT 4317-4364 and PT 4367-4405 Mukim Senawang, Bandar Senawang, Negeri Sembllan  Matrix  Single-storey terrace houses Double-storey terrace houses Double-storey shop offices  28.4  230 42 43  230 42 43  20.5 5.3 10.3  May 2003 May 2003 May 2003  February 2004 February 2004 February 2004  Commercial land  1  1  2.5  May 2003  February 2004  Taman Politeknik PT 5556-5669, PT 5671-5740, PT 5742-5759, PT 5761-5871, PT 5874, PT 6038, PT 6040-6060, PT 6062-6251, PT 6256-6495, PT 6497-7031, PT 7033-7069, PT 7071, PT 7110 and PT 7112-7192 Mukim Pas!r Panjang, Port Dickson, Negeri Sembllan  Matrix  Single-storey terrace houses Single-storey shop offices  108.7  1,603 19  1,603 19  121.7 1.5  July 2003 July 2003  September 2004 September 2004  Taman Desa PD 1 PT 2284-2346, PT 2350-2425, PT 2427-2444, PT 2446-2952 and PT 2954-3029, Muklm Linggi, Port Dickson, Negeri Sembilan  Matrix  Single-storey terrace houses Single-storey shop offices  61.3  729 11  729 11  52.7 1.1  July 2005 July 2005  November 2006 November 2006  68
I Company No.: 414615-U  I  5.  BUSINESS OVERVIEW (Cant’d)  Project name / Location  Developer  Type of development  Total site area Acres  Total units launched  Total units sold  GDV RM million  Commencement Month/year  Completion Month/year  Taman Seri Impian 1 PTD 69880-70366, Mukim Kluang Kluang, Johor  Matrix  Single-storey terrace houses  51.1  487  487  38.8  May 2006  April 2008  Impiana Avenue 1 PTD 69811-69843, Mukim Kluang Kluang, Johor  Matrix  Double-storey shop offices  2.8  33  33  7.1  May 2006  April 2009  Taman Ser; Impian 2 -Parcel 1 PTD 70367-70458, PTD 70506­70595, PTD 72891-73487, PTD 73715-73840 and PTD 73843­73844, Mukim Kluang, Kluang, Johor  Matrix  Single-storey terrace houses Double-storey terrace houses  80.2  857 50  857 50  83.4 7.8  May 2007 May 2007  April 2009 April 2009  Taman Pulai Perdana PT 10192-10201, PT 10203­10287, PT 10299-10344 and PT 10346-10435, Mukim Seremban Seremban, Negeri Sembilan  Matrix  Double-storey terrace houses Double-storey semi-detached houses  22.5  155 22  155 22  26.4 5.5  March 2008 March 2008  October 2009 October 2009  Double-storey shop offices  32  32  8.7  March 2008  October 2009  Low cost single-storey terrace houses  22  22  1.0  March 2008  October 2009  69
I Company No.: 414615-U  I  5.  BUSINESS OVERVIEW (Cant’d)  Project name / Location  Developer  Type of development  Total site area Acres  Total units launched  Total units sold  GDV RM million  Commencement Month/year  Completion Month/year  Taman Seri Impian 2 -Parcel 2 PTD 70459-70505, PTD 70596­70615, PTD 70616-70667, PTD 73488-73714, Mukim Kluang, Kluang, Johor  Matrix  Single-storey terrace houses Double-storey terrace houses  38.4  247 99  247 99  28.3 17.0  October 2007 October 2007  February 2010 February 2010  Taman Seri Impian 3 (Impiana Garden 1) PTD 71740-71760, PTD 71780­71804, PTD 71825-71948 and PTD 72070-7214, Mukim Kluang Kluang, Johor  Matrix  Singie-storey terrace houses  26.9  242  242  28.3  August 2009  August 2010  Taman Desa PD II -Phase 1 PT 3122-3171 and PT 3204-3636 Mukim Linggi, Port Dickson, Negeri Sembilan  Matrix  Single-storey terrace houses  41.7  483  483  46.2  March 2009  June 2011  Taman Seri Impian 3 (Impiana Garden 2) PTD 72142-72302, Mukim Kluang Kluang, Johor  Matrix  Single-storey terrace houses  17.9  161  161  21,6  August 2010  July 2011  Impiana Avenue 2 PTD 69844-69879, Mukim Kluarig Kluang, Johor  Matrix  Double-storey shop offices  3.3  36  36  10.9  January 2010  October 2011
70 I Company No.: 4146~  5.  BUSINESS OVERVIEW (Cont’d)  Project name / Location  Developer  Type of development  Total site area Acres  Total units launched  Total units sold  GDV RM million  Commencement Month/year  Completion Month/year  Taman Ser; Impian 3 (Impiana Garden 2 -Modena) PTD 71761-71779, PTD 71805­71824, PTD 71949-72069 and PTD 72303-72336, Mukim Kluang Kluang, Johor  Matrix  Single-storey terrace houses  21.6  194  194  31.8  May 2010  November 2011  Impiana Villa 1 PT 71578-71686 and PT 71688­71739, Mukim Kluang, Kluang, Johor Taman Andalas -Phase 1 PT 22906-23117, PT 23119­23224 and PT 23226-23288 Mukim Setul, Mantin, Negeri Sembilan  Matrix Masuda Corporation  Single-storey bungalows Double-storey bungalows Single-storey terrace houses Single-storey semi-detached houses  26.1 31.7  96 65 369 4  95 64 369 4  33.1 32.0 25.1 0.6  March 2010 March 2010 May 1999 May 1999  November 2012 November 2012 February’2000 February 2000  Single-storey shop offices  8  8  0.7  May 1999  February 2000  Taman Putra PT 1683-1689, PT 1691-1719, PT 1724-1797, PT 1799-1835 and PT 1574-1682, Mukim Juasseh Kuala Pilah, Negeri Sembilan  Masuda Corporation  Single-storey terrace houses Low cost double-storey terrace houses  21.3  150 92  150 92  8.3 3.1  November 1999 November 1999  June 2000 June 2000  Single-storey shop offices  14  9  1.2  November 1999  June 2000
71 I Company No.: 414615-U  I  5.  BUSINESS OVERVIEW (Cant’d)  Project name! Location  Developer  Type of development  Total site area Acres  Total units launched  Total units sold  GDV RM million  Commencement Month/year  Completion Month/year  Taman Andalas -Phase 2 AlG!1-NG!16, N1 !1-N1!16, N2!1-N2!16. A!3!1-A!3!16 and N4!1-N4!16, Mukim Setul Mantin, Negeri Sembilan  Masuda Corporation  Low-cost flats  7.3  80  80  2.9  November 2000  April 2001  Taman lntan Perdana 3 -Phase 1 PT 4787-5246, Mukim Sri Rusa Port Dickson, Negeri Sembiian  Masuda Corporation  Single-storey terrace houses  38.4  460  460  32.6  September 2000  October 2001  Arowana 1m pian PT 18331-18340, PT 18342­18652 and PT 18654-18722 Mukim Rasah, Seremban, Negeri Sembilan  Masuda Corporation  Single-storey terrace houses Double-storey terrace houses  32.5  258 119  258 119  23.9 14.6  January 2003 January 2003  October 2004 October 2004  Single-storey shop offices  13  13  1.8  January 2003  October 2004  Taman Pulai Impian PT 8306-8972, Mukim Seremban Seremban, Negeri Sembilan  Masuda Corporation  Double-storey terrace houses Double-storey semi-detached houses  55.0  563 104  563 104  75.1 19.8  February 2005 February 2005  August 2006 August 2006
72 I Company No.: 414615-U  I  5.  BUSINESS OVERVIEW (Cant’d)  Project name / Location  Developer  Type of development  Total site area Acres  Total units launched  Total units sold  GDV RM million  Commencement Month/year  Completion Month/year  Arowana Indah PT 23477-23859, Mukim Rasah Seremban, Negeri Sembilan  Masuda Corporation  Single-storey terrace houses Double-storey terrace houses  27.4  188 156  188 156  19.4 23.3  November 2006 November 2006  November 2007 November 2007  Low cost single-storey terrace houses  39  39  1.8  November 2006  November 2007  Matahari Indah PT 29368-29774, Mukim Senawang, Bandar Senawang, Negeri Sembilan  Masuda Corporation  Single-storey terrace houses Double-storey terrace houses  30.2  277 130  277 130  28.5 19.9  January 2007 January 2007  February 2008 February 2008  Taman Bukit Sendayan PT 29562-29724, PT 29726­29763, PT 29767-29799 and PT 29801-30236, Mukim Labu, Seremban, Negeri SembiIan  Masuda Corporation  Single-storey terrace houses  55.3  670  670  50.8  May 2006  May 2008  Taman Intan Perdana 1 -Phase 1 PT 5093-5100, PT 5102-5283 and PT 5285-5358, Mukim Sri Rusa, Port Dickson, Negeri Sembilan  1 Sendayan Club  Single-storey terrace houses Single-storey shop offices  22.7  256 8  256 8  15.8 1.0  May 2000 May 2000  December 2000 December 2000
73 74 I Company No.: 414615-U]  5.  BUSINESS OVERVIEW (Cont’d)  Project name I Location  Developer  Type of development  Total site area Acres  Total units launched  Total units sold  GDV RM million  Commencement Monthlyear  Completion Monthlyear  Taman Intan Perdana 2 -Phase 1 PT 4202-4351, PT 4353-4465 and PT 4476-4744, Mukim Sri Rusa Port Dickson, Negeri Sembilan  1 Sendayan Club  Single-storey terrace houses  44.1  532  532  34.9  September 2000  August 2001  Intan Court FSGI01-FSGI02, FG/03-FG/20. F01/01-F01/20, F02/01-F02/20, F03101-F03/20 and F04101­F04/20, Mukim Sri Rusa, Port Dickson, Negeri Sembilan  1 Sendayan Club  Low cost flats  6.0  100  100  3.3  April 2000  July 2002  Taman Intan Perdana V(b) PT 4467-4474 and PT 5731-5807 Mukim Sri Rusa, Port Dickson, Negeri Sembilan  1 Sendayan Club  Single-storey terrace houses Single-storey shop offices  7.0  77 8  77 8  5.6 0.7  April 2002 April 2002  May 2003 May 2003  Taman Intan Perdana VIa) PT 5808-5865, Mukim Sri Rusa Port Dickson, Negeri Sembilan  1 Sendayan Club  Single-storey terrace houses  6.0  58  58  3.9  September 2002  May 2003  Taman Bukit Perdana PT 5440-5686, Mukim Sri Rusa Port Dickson, Negeri Sembilan  1 Sendayan Club  Single-storey terrace houses  22.3  247  247  17.9  May 2002  May 2003  Taman Bukit Perdana II PT 5938-5967, Mukim Sri Rusa Port Dickson, Negeri Sembilan  1 Sendayan Club  Single-storey terrace houses  2.6  30  30  2.4  July 2004  December 2004
I Company No.: 414615-U  I  5.  BUSINESS OVERVIEW (Cont’d)  Project name / Location  Developer  Type of development  Total site area Acres  Total units launched  Total units sold  GDV RM million  Commencement Month/year  Completion Month/year  Taman Sri Intan PT 9867-10144, PT 10146-10491 and PT 10492-10561, Mukim Port Dickson, Port Dickson, Negeri Sembilan  1 Sendayan Club  Single-storey terrace houses Single-storey shop offices  63.8  618 6  618 6  58.5 1.0  October 2007 October 2007  December 2008 December 2008  Low cost flats  70  70  2.9  October 2007  December 2008  Taman Gadong Jaya -Phase 1 PT 19934-20037, PT 20039­20341 and PT 20343-20427, NG/1-NG/19, 21, 23 and 25, N1/1-A/1/17, 19, 21, 23 and 25, B/G/1-B/G/11, B/1/1-B/1/11, C/G/1-C/G/14, C/1/1-C/1/14, D/G/1-D/G/6 and 8, D/1/1-D/1/6 and 8, E/G/1-E/G/8,E/1/1-E/1/8, F/G/1-F/G/11 and 13, Mukim Labu, Seremban, Negeri Sembiian  Insan] Utama  Single-storey terrace houses Low cost townhouse  51.0  492 146  492 146  34.3 4.7  February 2001 February 2001  June 2002 January 2003  Taman Gadong Jaya -Phase 2 PT 19291-19303, PT 19307­19461, PT 19463-19692 and PT 19694-19933, Mukim Labu, Seremban, Negeri Sembilan  Insani Utama  Single-storey terrace houses Single-storey shop offices  51.0  619 19  619 19  45.0 1.8  November 2001 November 2001  January 2003 January 2003  Taman Gadong Jaya -Phase 3 PT 22643-22682, PT 22684­22738, PT 22740-22753 and PT 22756-22812, Mukim Labu, Seremban, Negeri Sembiian  Insani Utama  Single-storey terrace houses  13.0  166  166  12.4  July 2002  January 2003  75
I Company No.: 414615-U  I  –­ 5.  BUSINESS OVERVIEW (Cont’d)  Project name I Location  Developer  Type of development  Total site area Acres  Total units launched  Total units sold  GDV RM million  Commencement Month/year  Completion Month/year  Taman Gadong Jaya -Phase 4 PT 23511-23564 and PT 23566­23699, Mukim Labu, Seremban, Negeri Sembilan  Insan i Utama  Single-storey terrace houses Low cost double-storey terrace houses  15.0  159 29  159 16  11.9 0.5  February 2003 February 2003  September 2003 September 2003  Taman Sendayan Indah PT 22813-23365, Mukim Labu Seremban, Negeri SembiIan  Insani Utama  Single-storey terrace houses Single-storey shop offices  46.2  544 9  544 9  37.3 0.6  October 2002 October 2002  September 2003 September 2003  Taman Permai Impian PT 7269-7274, PT 7276-7280, PT 7282-7376, PT 7379-7409, PT 7412-7512, PT 7516-7599 and PT 7602-7621, Mukim Pekan Bukit Kepayang, Seremban, Negeri Sembilan  Superb Approach  Single-storey terrace houses Double-storey terrace houses Single-storey shop offices  29.4  83 252 6  83 252 6  23.8 10.8 0.6  July 2004 July 2004 JUly 2004  June 2005 June 2005 June 2005  Matrix Point PT 7994-8000 Mukim Seremban, Seremban, Negeri Sembilan  Superb Approach  Three-storey shop offices  0.5  7  7  4.8  January 2006  October 2007  Matrix Court PT 8305-8324 Mukim Seremban Seremban, Negeri Sembilan  Superb Approach  Three-storey shop offices  1.6  19  19  13.9  March 2007  January 2009
76 I Company No.: 414615-U  I  5.  BUSINESS OVERVIEW (Cont’d)  Project name / Location  Developer  Type of development  Total site area Acres  Total units launched  Total units sold  GDV RM million  Commencement Month/year  Completion Month/year  Taman Anggerik Tenggara 1 PT 3497-3611 and PT 3748-5007 Mukim Hulu Sunga; Johor, Kota Tinggi, Johor  Seventech  Single-storey terrace houses Double-storey terrace houses  154.3  1,188 72  1,188 72  85.4 7.1  December 2004 December 2004  February 2006 February 2006  Single-storey shop offices  115  115  14.5  December 2004  February 2006  Taman Anggerik Tenggara 2 PT 5991-6412, Mukim Hulu Sungai Johor, Kota Tinggi, Johor  Seventech  Single-storey terrace houses Singie-storey shop offices  30.1  359 63  359 63  32.7 9.8  April 2008 April 2008  October 2009 October 2009  Nusari Bayu 1 PT 3709-4867, Bandar Sri Sendayan, Seremban, Negeri Sembilan  BSS Development  Single-storey terrace houses  105.4  1,159  1,159  113.2  February 2008  January 2010  Nusari Bayu 2A PT 2556-2732, PT 2757-2806 and PT 2808-2939, Bandar Sri Sendayan, Seremban, Negeri Sembilan  BSS Development  Single-storey terrace houses  32.6  359  359  42.4  October 2009  January 2011  Atiya PT 3691-3708, Bandar Sri Sendayan, Seremban, Negeri Sembilan  BSS Development  Single-storey semi-detached houses  1.4  18  18  5.2  May 2010  January 2011  77
[Company No.: 414615-U  I  5.  BUSINESS OVERVIEW (Cont’d)  Project name / Location  Developer  Type of development  Total site area Acres  Total units launched  Total units sold  GOY RM million  Commencement Month/year  Completion Month/year  Idaman Bayu PT 518-695, Bandar Sri Sendayan, Seremban, Negeri Sembilan  BSS Development  Single-storey terrace houses Double-storey terrace houses  17.7  81 97  81 97  13.2 26.4  January 2010 January 2010  August 2011 August 2011  Nusar; Aman 1A PT 2940-3175 Bandar Sri Sendayan, Seremban, Negeri Sembilan  BSS Development  Single-storey terrace houses  15.5  236  236  34.2  April 2010  October 2011  Nusari Aman 2A PT 2283-2543 and PT 4896-4941 Bandar Sri Sendayan, Seremban, Negeri Sembilan  BSS Development  Single-storey terrace houses Double-storey terrace houses  27.5  150 91  150 91  25.1 21.7  September 2010 September 2010  December 2011 December 2011  Single-storey semi-detached houses  6  6  2.0  September 2010  December 2011  Double-storey semi-detached houses  14  14  7.3  September 2010  December 2011  Single-storey shop offices  46  46  10.3  September 2010  December 2011  Single-storey stall  1  0  1.0  September 2010  December 2011  Cosmoxia PT 2544-2555 and PT 2733-2756 Bandar Sri Sendayan, Seremban, Negeri Sembilan  BSS Development  Single-storey semi-detached houses  2.7  36  36  11.7  May 2010  December 2011
78 79 I Company No.: 414615-U  I  5.  BUSINESS OVERVIEW (Cant’d)  Project name / Location  Developer  Type of development  Total site area Acres  Total units launched  Total units sold  GDV RM million  Commencement Month/year  Completion Month/year  Sendayan Metropark Lot 1051-1052 and 1055-1070 Bandar Sri Sendayan, Seremban, Negeri Sembilan  BSS Development  Commercial lots  35.4  18  16  47.1  June 2008  December 2010  Nusari Bayu 3 -Phase 1 PT 1113-1184 and PT 1186-1374 Bandar Sri Sendayan, Seremban, Negeri Sembilan  BSS Development  Single-storey terrace houses Double-storey terrace houses  22.4  111 150  111 150  20.8 41.8  November 201 0  August 2012  Nusar; Bayu 3 -Phase 2 PT 1375-1593 and PT 4868-4892 Bandar Sri Sendayan, Seremban, Negeri Sembilan  BSS Development  Single-storey terrace houses Double-storey terrace houses  20.9  69 150  69 150  15.1 46.6  July 2011 July 2011  February 2013 February 2013  Double-storey shop offices  25  25  12.0  July 2011  February 2013
I Company No.: 414615-U  I  5.  BUSINESS OVERVIEW (Cont’d)  (ii)  On-going projects  Project name I Location I Land owner  Developer  Type of development  Total site area Acres  Total units for sale  Total units sold  Estimated GDV RM million  Commencement Month/year  Expected completion Month/year  Taman Seri Impian 4 (Impiana Casa 1) PT 79558-79634, PT 79636­79834, PT 79848-79876, PT 79892-79918, PT 79945-79971, PT 80004-80029, PT 80038­80057, PT 80060-80079, PT 80082-80101 and PT 80104­80123, Mukim Kluang, Kluang, Johor I KKTNJB  Matrix  Single-storey terrace houses Double-storey terrace houses  42.3  329 136  329 136  47.6 32.5  December 2010 December 2010  June 2013 June 2013  Impiana Casa 2 PT 79421-79557, PT 79835­79847, PT 79877-79890, PT 79919-79944, PT 79972-80001, PT 80126-80150 and PT 80156­80198, Bandar Sri Sendayan Seremban, Negeri Sembilan I KKTNJB  Matrix  Double-storey terrace houses Single-storey terrace houses  32.5  137 151  126 128  388 28.7  March 2012 March 2012  February 2014 February 2014  Taman Desa PD 3 PT 3098-3121 and PT 3172-3203 Port Dickson, Negeri Sembilan I Matrix  Matrix  Single-storey terrace houses  4.3  56  56  5.5  February 2012  June 2013  Nusari Aman 1B PT 3176-3690, Bandar Sri Sen dayan, Seremban, Negeri Sembilan I MBI  BSS Development  Single-storey terrace houses Double-storey terrace houses  38.2  341 174  341 174  60.0 43.1  April 2011 April 2011  April 2013 April 2013  80
I Company No.: 414615-U  I  5.  BUSINESS OVERVIEW (Cont’d)  Project name / Location / Land owner  Developer  Type of development  Total site area Acres  Total units for sale  Total units sold  Estimated GDV RM million  Commencement Month/year  Expected completion Month/year  Nusari Aman 2 PT 1797-1809, PT 1818-1984 and PT 1991-2282 Bandar Sri Sendayan, Seremban, Negeri Sembilan / MBI  BSS Development  Single-storey terrace houses Double-storey terrace houses  35.4  122 350  122 350  25.6 101.4  October 2011 October 2011  November 2013 November 2013  Nusari Aman 2D and Nusari Aman 3A (collectively, “Nusari Aman lJ ) PT 6872-6904, PT 6906-7000, PT 7004-7058, PT 7060-7143 and PT 8372-8389, Bandar Sri Sendayan, Seremban, Negeri Sembilan / MBI  BSS Development  Single-storey terrace houses Double-storey terrace houses Single-storey semi-detached houses  33.7  37 230 18  37 230 18  9.0 78.0 7.8  January 2012 January 2012 January 2012  December 2013 December 2013 December 2013  Sendayan Metropark Shop 1A PT 980-1017, Bandar Sri Sendayan, Seremban, Neger; Sembilan / MBI  BSS Development  Double-storey shop offices Three-storey shop offices  2.5  29 9  29 8  13.9 6.0  October 2011 October 2011  June 2013 June 2013  Idaman Bayu 2 PT 871-883, PT 906-927 and PT 948-968, Bandar Sri Sendayan Seremban, Negeri Sembilan / MBI  BSS Development  Double-storey terrace houses  4.8  56  56  23.6  October 2012  September 2014
81 I Company No.: 414615-U  I  5.  BUSINESS OVERVIEW (Cont’d)  Project name / Location / Land owner  Developer  Type of development  Total site area Acres  Total units for sale  Total units sold  Estimated GDV RM million  Commencement Month/year  Expected completion Month/year  Sendayan TechValley 1 PT 6127, PT 6130-6132, PT 6135­6138, PT 6286-6293, PT 6295­6302, PT 6307, PT 6310-6313, PT 6315-6321, PT 6326-6332, PT 6336-6337, PT 10279-10280, PT 11633-11635 and PT 11690, Bandar Sri Sendayan, Seremban, Negeri Sembilan / MBI  BSS Development  Industrial lots  221.0  51  40  173.3  September 2010  December 2013  Sendayan TechValley 2 PT 5565, PT 6377-6383, PT 6385­6386, PT 6389-6402, PT 6406­6410, PT 6428-6433, PT 6435, PT 11636, PT12627-12630 and PT 12637, Bandar Sri Sendayan, Seremban, Negeri Sembilan / MBI  BSS Development  Industrial lots  302.9  42  17  315.6  September 2011  December 2013  Nusari 8ayu 28 PT 1687-1703, 1720-1782 and 8362-8371, Bandar Sri Sendayan, Seremban, Negeri Sembilan / MBI  BSS Development  Double-storey terrace houses Single-storey semi­detached houses  8.1  80 10  80 10  24.4 4.7  May 2012 May 2012  April 2014 April 2014  Hijayu 18 PT 7967-8195, Bandar Sri Sendayan, Seremban, Negeri Sembilan / MBI  BSS Development  Single-storey terrace houses Double-storey terrace houses  21.5  75 154  74 154  19.5 57.8  August 2012 August 2012  July 2014 July 2014
82
I Company No.: 414615-U  I  5.  BUSINESS OVERVIEW (Cont’d)  Project name / Location / Land owner  Developer  Type of development  Total site area Acres  Total units for sale  Total units sold  Estimated GDV RM million  Commenceme’1t Month/year  Expected completion Month/year  Hijayu 3D PT 9708-10241, Bandar Sri Sendayan, Seremban, Negeri Sembilan / MBI  BSS Development  Double-storey terrace houses  43.5  534  291  192.5  July 2012  June 2014  1 Sendayan Clubhouse PT 12653, Bandar Sri Sendayan, Seremban, Negeri Sembilan / MBI  BSS Development  Clubhouse  6.3  1  50.0  September 2012  March 2014  Sub Centre @ Nusari Bayu PT 4894-4895 and PT 12662­12663, Bandar Sri Sendayan, Seremban, Negeri Sembilan / MBI  BSS Development  Commercial lots  20.0  4  1  30.0  A ­ A – Sub Centre @ Nusari Hijayu PT 12664-12665, Bandar Sri Sendayan, Seremban, Negeri Sembilan / MBI  BSS Development  Commercial lots  8.1  2  12.0  A ­ A ­ (iii)  Future Projects  Project name / Location / Land owner  Developer  Type of development  Total site area Acres  Total projected units  Estimated GDV RM million  Expected commencement Month/year  Expected completion Month/year  Kota Gadong Perdana PT 24225-27856, Mukim Labu, Seremban, Negeri Sembilan / MAINS  Riverine Projects  Single-storey terrace houses Double-storey terrace houses  294.6  1,632 2,000  326.4 600.0  January 2016 January 2016  December 2018 December 2018  83
I  Company No.: 414615-U  I  5.  BUSINESS OVERVIEW (Cant’d)  Project name / Location / Land owner  Developer  Type of development  Total site area Acres  Total projected units  Estimated GDV RM million  Expected commencement Month/year  Expected completion Month/year  Hijayu 1A PT 7301-7966, Bandar Sri Sendayan, Seremban, Neger! Sembilan / MBI  BSS Development  Double-storey terrace houses  67.3  666  246.4  June 2013  May 2015  Sendayan Merchant Square 1 PT 8196-8320, PT 8328-8329, PT 8339, PT 10690-10716 and PT 12659-12660, Bandar Sri Sendayan,Seremban, Neger! Sembilan / MBI  BSS Development  Double-storey shop offices Commercial lots  29.4  154 3  202.2 10.0  March 2014 March 2014  February 2016 February 2016  Hijayu 3A PT 8391-8940 and PT 8941-8979 Bandar Sri Sendayan,Seremban, Neger! Sembllan / MBI  BSS Development  Sin9le-storey terrace houses Double-storey terrace houses  52.1  150 439  37.5 162.4  June 2014 June 2014  May 2016 May 2016  Hijayu 38 PT 8980-9313, Bandar Sri Sendayan, Seremban, Negeri Sembllan / MBI  BSS Development  Double-storey terrace houses  32.5  334  140.3  January 2014  December 2015  Hijayu 3C PT 9314-9707, Bandar Sri Sendayan, Seremban, Neger! Sembilan / MBI  BSS Development  Double-storey terrace houses  38.4  394  153.7  September 2013  AU9ust 2015
84 I Company No.: 414615-U  I  5.  BUSINESS OVERVIEW (Cont’d)  Project name / Location / Land owner  Developer  Type of development  Total site area Acres  Total projected units  Estimated GDV RM million  Expected commencement Month/year  Expected completion Month/year  Hijayu (Resort Homes) PT 11082-11589, Bandar Sri Sendayan,Seremban, Negeri Sembilan / MBI  BSS Development  Double-storey semi-detached houses Double-storey terrace houses  85.1  200 308  160.0 154.0  June 2014 June 2014  May 2017 May 2017  Hijayu (Resort Villa) PT 10882-10884, PT 10887-10890 and PT 10986-11081, Bandar Sri Sendayan, Seremban, Negeri Sembilan / MBI  BSS Development  Double-storey bungalows Bungalow lots  49.5  102 1  157.8 4.0  September 2014 September 2014  August 2017 August 2017  Hijayu (Residence) PT 10875-10876, PT 10878-10881 and PT 10919-10985, Bandar Sri Sendayan, Seremban, Negeri Sembilan / MBI  BSS Development  Double-storey bungalows Bungalow lots  56.0  67 6  120.6 18.8  September 2014 September 2014  August 2017 August 2017  Sendayan Merchant Square 2 PT 10717-10865, PT 10871 and PT 12656-12658, Bandar Sri Sendayan, Seremban, Negeri Sembilan / MBI  BSS Development  Double-storey shop offices Commercial lots  49.9  149 4  223.5 40.0  March 2015 March 2015  February 2017 February 2017  1 Sendayan Clubhouse'” PT 12652 and PT 12655, Bandar Sri Sendayan, Seremban, Negeri Sembilan / MBI  BSS Development  Commercial Lot Institute  19.0  1 1  2.7 50.0  September 2013 September 2013  August 2015 August 2015  85
[COffiPany No.: 414615-U  I  5.  BUSINESS OVERVIEW (Cont’d)  Project name I Location I Land owner  Developer  Type of development  Total site area Acres  Total projected unils  Estimated GDV RM million  Expected commencement Monthlyear  Expected completion Month/year  Idaman Yu 1 PT6450-6730, 6733-6751, 6753­6854 and 12667, Bandar Sri Sendayan, Seremban, Negeri Sembilan I MBI  BSS Development  Double-storey terrace houses Single-storey terrace houses  44.5  235 150  112.8 42.0  September 2014 September 2014  October 2016 October 2016  Double-storey shop offices  17  13.6  September 2014  October 2016  Commercial lots  1  1.5  September 2014  October 2016  Idaman Yu 2 PT 5607, Bandar Sri Sendayan, Seremban, Negeri Sembilan I BSS Development  BSS Development  Double-storey terrace houses Double-storey shop offices  101.7  878 21  491.7 21.0  January 2015 January 2015  December 2017 December 2017  Commerciallot  1  3.0  January 2015  December 2017  Sendayan Metropark Shop 1B PT 1018-1049, Bandar Sri Sendayan, Seremban, Negeri Sembilan I MBI  BSS Development  Double-storey shop offices Three-storey shop offices  2.5  28 4  42.0 7.2  January 2015 January 2015  December 2017 December 2017  Sendayan Metropark Shop 2 PT 7148-7194 and 7196-7298, Bandar Sri Sendayan, Seremban, Negeri Sembilan I MBI  BSS Development  Double-storey shop offices  15.0  150  240.0  January 2016  December 201 B  86
I Company No.: 414615-U  I  5.  BUSINESS OVERVIEW (Cant’d)  Project name I Location f Land owner  Developer  Type of development  Total site area Acres  Total projected units  Estimated GDV RM million  Expected commencement Month/year  Expected completion Month/year  Sub Centre @ Sendayan TechValley 1A PT 6140-6163,6165-6173,6175­6166, 6189-6214, 6216-6253, 6255,6257-6284,6356,10271­10278 and 12671, Bandar Sri Sendayan, Seremban, Negeri Sembilan / MBI  BSS Development  Double-storey shop offices Commercial lots Double-storey semi-detached factories  46.4  32 1 30  38.4 1.7 30.0  January 2016 January 2016 January 2016  December 2018 December 2016 December 2018  Double-storey terrace factories  84  58.8  January 2016  December 2016  Sendayan Auto City PT 11639-11680, Bandar Sri Sendayan, Seremban, Neger; Sembilan / MBI  BSS Development  Industrial lots Commercial lots  115.2  32 10  182.0 70.0  January 2014  December 2016  Impiana Villa 2 PT 72337-72464, Mukim Kluang, Kluang, Johor I KKTNJB  Matrix  Double-storey bungalows Double-storey semi-detached houses  23.7  54 74  48.6 37.0  January 2014 January 2014  December 2016 December 2016  Impiana Bayu 1 Part of PTD 74725, Mukim Kluang, Kluang, Johor I KKTNJB  Matrix  Double-storey terrace houses Single-storey terrace houses  Part of 167.0  215 304  60.2 54.7  September 2013 September 2013  August 2015 August 2015
87 I Company No.: 414615-U  I  5.  BUSINESS OVERVIEW (Cont’d)  Project name / Location / Land owner  Developer  Type of development  Total site area Acres  Total projected units  Estimated GDV RM million  Expected commencement Month/year  Expected completion Month/year  Impiana Bayu 2 Part of PTD 74725, Mukim Kluang, Kluang, Johor / KKTNJB  Matrix  Double-storey terrace houses Single-storey terrace houses  Part of 167.0  215 304  68.8 60.8  June 2014 June 2014  May 2016 May 2016  Double-storey shop offices  94  N/A  ·- ·- Double-storey terrace houses  209  N/A  ·  ·- Commercial lots  1  N/A  •­ Stall  1  N/A  ·- •- Impiana Villa 3 PT 76703-76868, Mukim Kluang, Kluang, Johor / KKTNJB  Matrix  Double-storey semi-detached houses  21.4  166  79.7  January 2015  December 2017  Impiana Avenue 3 PT 71518-71577, Mukim Kluang, Kluang, Johor I KKTNJB  Matrix  Double-storey shop offices  2.3  60  19.2  January 2014  December 2015  Impiana Avenue 4 PT 74631-74666, and 74671­74709, Mukim Kluang, Kluang, Johor / KKTNJB  Matrix  Double-storey shop offices  2.8  75  26.3  January 2015  December 2016
88
I Company No.: 414615-U  I  5.  BUSINESS OVERVIEW (Cont’d)  Project name / Location / Land owner  Developer  Type of development  Total site area Acres  Total projected units  Estimated GDV RM million  Expected commencement Month/year  Expected completion Month/year  Impiana Avenue 5 PT 73847-73897, Mukim Kluang, Kluang, Johor / KKTNJB  Matrix  Double-storey shop offices  2.4  51  21.4  June 2015  May 2017  Impiana Avenue 6 PT 78940-78975, 78977-78983 and 76869-76898, Mukim Kluang, Kluang, Johor / KKTNJB  Matrix  Double-storey shop offices  2.7  73  29.2  January 2016  December 2017  Impiana Avenue 7 PT 83022-83532, Mukim Kluang, Kluang, Johor / KKTNJB  Matrix  Doubie-storey shop offices Three-storey shop offices  39.6  416 92  222.2 82.8  July 2016 July 2016  June 2019 June 2019  Commercial lots  1  N/A  *­ *­ Petrol land  2  N/A  *­ *­ Taman Seri Impian 2 PT 74358-74368, 74385-74395 and 71260-71517, Mukim Kluang, Kluang, Johor / KKTNJB  Matrix  Double-storey terrace houses  11.8  280  N/A  *­ *- Impiana Casa 2 (Stage 2) PT 78976 and PT 79258-79418, Mukim Kluang, Kluang, Johor / KKTNJB  Matrix  Stall Double-storey terrace houses  19.8  1 161  N/A N/A  *­*­ *­*­
89 I Company No.: 414615-U I 5. BUSINESS OVERVIEW (Cont’d) Total  Project name I Location I Land  Type of  Total site  projected  Expected  Expected  owner  Developer  development  area  units  Estimated GDV  commencement  completion  Acres  RM million  Month/year  Monthlyear
Third 9 Residence Matrix Double-storey 41.8 148 81.4 July 2013 June 2015 PT 608-824, Bandar Seremban, terrace houses Seremban, Negeri Sembilan I MBI Double-storey 38 32.3 Juiy 2013 June 2015 semi-detached houses 31 31.0 July 2013 June 2015 Double-storey Bungalows Lobak Commercial Centre Matrix Double-storey 0.7 12 16.1 July 2013 June 2015 Phase 1 shop offices PT 8698-8709, Bandar Seremban, Seremban, Negeri Sembilan I Matrix Lobak Commercial Centre Matrix Double-storey 2.1 14 23.2 July 2014 June 2016 Phase 2 shop offices PT 8711-8724 and PT 8726­8727, Bandar Seremban, Commercial lots 2 6.1 july 2014 June 2016 Seremban, Negeri Sembiian I Matrix Noles: • The estimated commencement and completion dates for these projects have yet to be determined by our management. A These properties ara raady for sale on an as is basis. (1) In addition to the commercial lot, we also intend to develop a cfubhouse and an education institute on the said 28.1 acras of land allocated for the 1 Sendayan Clubhouse. We intend to manage the said clubhouse and education institute through our wholly-owned subsidiaries, namely 1 Sendayan Club and 1 Sendayan Education respectively.
(2) We intend to develop Sendayan Icon Park which is planned as a development of a cluster of commercial unils together with a trade and exhibition centre which we intend to retain and manage. Please refer to Section 5.7.2.2 for further details on Sendayan Icon Park.

90 5. BUSINESS OVERVIEW (Cont’d) 5.6 PROCESS FLOW The process flow for our property development projects is depicted in the diagram below: Feasibility Stl,ldy

CUJ\ceploal Pl.(llflning
The process flow of a new property development project begins with the identification and acquisition of the project development land through public and private sources as well as through government departments. The purchase and acquisition of the selected land and property is through direct negotiation. A feasibility study of the intended development project is undertaken at this stage of the assessment of the proposed project to evaluate the suitability of the location of the development, market demand and bUilding material costs and pricing. The feasibility study also include title and zone searches, market surveys of neighbouring rental and property costs and values, as well as developing a conceptual plan for the project. 5. BUSINESS OVERVIEW (Cont’d) The company’s representative solicitors will review and undertake all legal requirements for the purchase of the proposed land. A financial and cash flow study of the proposed project is also carried out prior to the purchase of the land. A market analysis is undertaken of prospective investors and buyers to review take-up rate, population density and target income group as well as conceptual planning to forecast and achieve maximum returns for the use of the project land. Subsequently, the proposed development land is purchased using funds from shareholders and investors, and other internally generated funds. Funds from financial institutions are granted upon the acceptance of the feasibility study and negotiation of the land price with the landowners. The engagement of consultants is carried out at this stage of the process. Engineering consultants are identified and engaged for civil, mechanical and structural work involved. Architects and surveyors and a town planner are also identified and recruited. The project consultants begin preparation of the building, structural and infrastructure plans for council submission. Submission of plans for approval and applications for permits and licences to the relevant authorities are put in progress before commencement of the building and construction of the development project. Upon the receipt of the construction drawings and project schedule, the management begins the sourcing and negotiation of prices of building materials and machinery. The implementation or commencement of the project is based on the approval of the bUilding and layout plans and designs by the government departments, a construction schedule is pianned and undertaken and the accounts and finance department prepare a detailed project budget and project schedule including detailed materials, subcontracting and procurement schedule. Contractors are invited to submit tenders for the project. Successful contractors are appointed subject to successful evaluation and approval of their tender documents by the appointed consultants. Upon obtaining the plans and drawings approvals, the advertising permit and developer’s licence are submitted for approval. This is followed by the pUblic launch of the development project to the general public through mass media advertising. Both bUilding and construction of the development project and the marketing and sale of the properties are initiated simultaneously. During progress of construction of the project, constant monitoring of the project cost, progress and quality is undertaken. Progressive billings are issued to buyers and customers in stages according to the progress claim schedule as the construction of the development property is in progress. Progressive payments are made to the suppliers, sub-contractors and consultants involved in the development project. Work progress reports are then issued to the management on a regular basis. 5. BUSINESS OVERVIEW (Cont’d) Upon the completion of the building and construction of the development project. the architect issues project completion certificates and the procurement department evaluates the products and materials procured for the construction of the development for final costing and accountability. The marketing department informs purchasers to receive vacant possession of the property. Other bills related to property titles and amenities and all outstanding payments are finalised and paid before the release of the property to the purchaser and the issuance of the eee. 5.7 DETAILS OF OUR PROPERTY DEVELOPMENT PROJECTS 5.7.1 Completed and on-going property development projects (i) Taman Bahau The Taman Bahau development was a mixed property development comprising single-storey terrace houses, double-storey terrace houses and one-and-a-half-storey shop offices in a total site area of 49.6 acres in Bahau, Negeri Sembilan. This project was undertaken through a joint-venture with Beg Development Sdn Bhd. The Taman Bahau development which had a total net sales value of RM34.9 million, was completed in two phases in 1998 and 1999 respectively. The following are details of the various types of properties in the Taman Bahau development: Gross Area per  Net Sales  Units  Units  unit  Value  Type of development  developed  sold  (square feet)  (RM million)  Residential property  Single-storey terrace houses  559  559  1,300 to 2,000  32.6  Double-storey terrace houses  22  22  1,300 to 2,000  1.7  Commercial property  One-and-a-half-slorey shop offices  14  14  1,400102,100  0.6
THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK 5. BUSINESS OVERVIEW (Cont’d) (ii) Taman Andalas Phase 1 and Phase 2 of Taman Andalas in Mantin, Negeri Sembilan were predominantly residential property development projects undertaken through a joint-venture with the MBI in a combined total site area of 39.0 acres. Phase 1 of Taman Andalas involved the development of single-storey terrace houses, single-storey semi-detached houses and singie-storey shop offices while Phase 2 of Taman Andalas involved the development of low cost flats. The projects had a combined total net sales value of RM29.3 million. The following are details of the various types of properties in Phase 1 and Phase 2 of the Taman Andalas development: Gross Area per  Net Sales  Units  Units  unit  Value  Type of development  developed  sold  (square feet)  (RM million)
Residential property Single-storey terrace houses 369 369 1,200 to 5,655 25.1 Single-storey semi-detached houses 4 4 3,375 0.6 Low cost flats 80 80 650 2.9 Commercial property Single-storey shop offices 8 8 1,540 to 1,772 0.7 (iii) Taman Putra Taman Putra was a mixed property development comprising single-storey terrace houses, low cost double-storey terrace houses and single-storey shop offices in Kuala Pilah, Negeri Sembilan. This development was on a total site area of 21.3 acres. The following are details of the various types of properties in the Taman Putra development: Gross Area per  Net Sales  Units  Units  unit  Value  Type of development  developed  sold  (square feet)  (RM million)  Residential property  Single-storey terrace houses  150  150  1,200 to 3,154  8.3  Low cost double-storey terrace  92  92  801 to 2,594  3.1  houses  Commercial property  Single-storey shop offices  14  9  1,300 to 1,420  0.8
THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK 5. BUSINESS OVERVIEW (Cont’d) (iv) Taman Sri Telawi Taman Sri Telawi is located in Seremban, Negeri Sembilan. The project involved the development of 19 lots of residential plots on a total site area of 0.9 acres. The development of Taman Sri Telawi had a total net sales value of RM1.7 million. The following are details of the residential plots of Taman Sri Telawi: Gross Area per Net Sales Lots Lots lot Value Type of development developed sold (square feet) (RM million) Residential plots 19 19 1,400 to 3,358 1.7 (v) Taman Pedas Indah Taman Pedas Indah was a mixed property development, which comprised single-storey terrace houses, double-storey terrace houses and single-storey shop offices in Pedas, Negeri Sembilan on a total site area of 32.8 acres. The Taman Pedas Indah project was undertaken through a joint-venture arrangement with Omega Touch Sdn Bhd. The project had a total net sales value of RM23.9 million. The following are details of the various types of properties in the Taman Pedas Indah development: Gross Area per  Net Sales  Units  Units  unit  Value  Type of development  developed  sold  (square feet)  (RM million)  Residential property  Single-storey terrace houses  289  289  1,200 to 4,493  18.4  Double-storey terrace houses  139  139  770 to 2,113  4.5  Commercial property  Singie-storey shop offices  11  11  1,540  1.0  (vi)  Intan COl,lrt
Intan Court was a residential property development consisting of 100 units of low cost flats in Port Dickson, Negeri Sembilan on a total site area of 6.0 acres. The project had a total net sales value of RM3.3 million. The following are details of the various types of properties in the Intan Court development: Gross Area per  Net Sales  Units  Units  unit  Value  Type of development  developed  sold  (square feet)  (RM million)  Residential property  Low cost flats  100  100  620  3.3
5. BUSINESS OVERVIEW (Cont’d) (vii) Taman Intan Perdana Taman Intan Perdana was a mixed residential and commercial development located in Port Dickson, Negeri Sembilan, Our Group developed Phase 1 of Taman Intan Perdana 1, 2 and 3 as well as Taman Intan Perdana V(a) and V(b), Phase 1 of Taman Intan Perdana 1 involved the development of single-storey terrace houses and single-storey shop offices while Phase 1 of Taman Intan Perdana 2 and 3 were residential developments comprising single-storey terrace houses. As for Taman Intan Perdana VIa) and V(b), the projects involved the development of single-storey terrace houses and single-storey shop offices. The projects had a combined total net sales value of RM94.5 million on a total site area of 118.2 acres. The following are details of the various types of properties in Phase 1 of Taman Intan Perdana 1, 2 and 3 as well as Taman Intan Perdana V(a) and V(b) developments: Gross Area per  Net Sales  Units  Units  unit  Value  Type of development  developed  sold  (square feet)  (RM million)
Residential property Single-storey terrace houses 1,383 1,383 1,200 to 4,421 92.8 Commercial property Single-storey shop offices 16 16 1,400 to 1,969 1.7 (Viii) Taman Sri Anggerik Taman Sri Anggerik was a residential property development comprising single and double-storey terrace houses in Rantau, Negeri Sembilan on a total site area of 16.6 acres. The project had a total net sales value of RM15,0 million. The following are details of the various types of properties of the Taman Sri Anggerik development: Gross Area per Net Sales Units Units unit Value Type of development developed sold (square feet) (RM million) Residential property Single-storey terrace houses 184 184 1,200 to 3,975 13.4 Double-storey terrace houses 15 15 1,400 to 3,203 1,6 (ix) Taman Gadong Jaya Taman Gadong Jaya, a mixed development in Seremban, Negeri Sembilan was undertaken in four phases on a combined total site area of 130,0 acres. The development had residential properties including single-storey terrace houses, low cost double-storey terrace houses and low cost townhouses as well as a small proportion of commercial properties, which were single-storey shop offices, Taman Gadong Jaya projects were undertaken through a joint­venture with Yayasan Negeri Sembilan. 5. BUSINESS OVERVIEW (Cont’d) The following are details of the various types of properties in Phase 1, 2, 3 and 4 of the Taman Gadong Jaya development: Gross Area per  Net Sales  Units  Units  unit  Value  Type of development  developed  sold  (square feet)  (RM million)
Residential property Single-storey terrace houses 1,436 1,436 1,200 to 6,211 103.5 Low cost double-storey terrace 29 16 770 to 1,754 0.4 houses Low cost townhouses 146 146 777 4.7 Commercial property Single-storey shop offices 19 19 1,650 to 3,498 18 (x) Taman Bukit Perdana Taman Bukit Perdana and Taman Bukit Perdana II were both residential developments comprising single-storey terrace houses in Port Dickson, Negeri Sembilan on a combined total site area of 24.9 acres. The projects had a combined total net sales value of RM20.2 million. The following are details of the various types of properties in Taman Bukit Perdana and Taman Bukit Perdana II developments: Gross Area per  Net Sales  Units  Units  unit  Value  Type of development  developed  sold  (square feet)  (RM million)
Residential property Single-storey terrace houses 277 277 1,200 to 4,521 20.2 (xi) Taman Sendayan Indah Taman Sendayan Indah was predominantly a residential property development project comprising largely single-storey terrace houses with a small proportion of single-storey shop offices in Seremban. The project was undertaken through a joint-venture with the MBI. Taman Sendayan Indah had a total net sales value of RM37.9 million on a total site area of 46.2 acres. The following are details of the various types of properties in Taman Sendayan Indah development: Gross Area per  Net Sales  Units  Units  unit  Value  Type of development  developed  sold  (square feet)  (RM million)  Residential property  Single-storey terrace houses  544  544  1,200 to 4,833  37.3  Commercial property  Single-storey shop offices  9  9  1,400 to 1,851  0.6
5. BUSINESS OVERVIEW (Cont’d) (xii) Arowana Impian Arowana Impian was predominantly a residential property deveiopment project comprising single-storey and double-storey terrace houses with a small proportion of single-storey shop offices in Seremban, Negeri Sembilan. The total site area of the development was 32.5 acres. The project had a total net sales value of RM40.3 million. The following are details of the various types of properties in the Arowana Impian development: Gross Area per  Net Sales  Units  Units  unit  Value  Type of development  developed  sold  (square feet)  (RM million)
Residential property Single-storey terrace houses 258 258 1,300 to 4,370 23.9 Double-storey terrace houses 119 119 1,300 to 3,477 14.6 Commercial property Single-storey shop offices 13 13 1,400 to 1,797 1.8 (xiii) Matahari Height Matahari Height was a mixed property development comprising single-storey terrace houses, double-storey terrace houses and double-storey shop offices. In addition, we also sold one lot of commercial plot in Matahari Height. The total site area of the development was 28.4 acres. Matahari Height which is located in Bandar Senawang, Negeri Sembilan had a total net sales value of RM38.6 million including the sales of commercial plot. The following are details of the various types of properties in Matahari Height development: Gross Area per  Net Sales  Units  Units  unit  Value  Type of development  developed  sold  (square feet)  (RM million)  Residential property  Single-storey terrace houses  230  230  1,280 to 5,845  20.5  DOUble-storey terrace houses  42  42  1,300 to 2,486  5.3  Commercial property  Double-storey shop offices  43  43  1,540 to 2,809  10.3  Commercial plot  1  1  43,560  2.5
THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK 5. BUSINESS OVERVIEW (Cont’d) (xiv) Taman Politeknik Taman Politeknik was a mixed residential and commercial property development in Port Dickson, Negeri Sembilan. The development comprised largely single-storey terrace houses with a small proportion of single-storey shop offices on a total site area of 108.7 acres. The total net sales value of the development was RM123.2 million. The following are details of the various types of properties in Taman Politeknik development: Gross Area per  Net Sales  Units  Units  unit  Value  Type of development  developed  sold  (square feet)  (RM million)
Residential property Single-storey terrace houses 1,603 1,603 1,300 to 6,911 121.7 Commercial pro’perty Single-storey shop offices 19 19 1,400 to 3,240 1.5 (xv) Taman Permai Impian Taman Permai Impian was a mixed residential and commercial development comprising largely single-storey and double-storey terrace houses with a small proportion of single-storey shop offices. The project was undertaken through a joint-venture arrangement with Yayasan Negeri Sembilan. Taman Permai Impian is located in Seremban, Negeri Sembilan. It is 4km away from the Seremban -Labu exit of North South Highway and 2 to 3km away from the town centre and various amenities such as hypermarket and hospital. The total site area of the project is 29.4 acres with a total net sales value of RM35.2 million. The following are details of the various types of properties in Taman Permai Impian development: Gross Area per  Net Sales  Units  Units  unit  Value  Type of development  developed  sold  (square feet)  (RM million)
Residential property Single-storey terrace houses 83 83 1,300 to 4,467 23.8 Double-storey terrace houses 252 252 1,282 to 4,994 10.8 Commercial property Single-storey shop offices 6 6 1,200 to 2,992 0.6 (xvi) Taman Anggerik Tenggara Our Group developed Taman Anggerik Tenggara 1 and 2 which was our first project in Bandar Tenggara, Johor. The project is the result of our joint­venture with the South East Johore Development Authority. Taman Anggerik Tenggara 1 and 2 were mixed property development projects comprising single-storey and double-storey terrace houses as well as single-storey shop offices. Taman Anggerik Tenggara is close to various public amenities including school and hospital as well as industrial areas. 5. BUSINESS OVERVIEW (Cont’d) The combined total site area of the Taman Anggerik Tenggara 1 and 2 is 184.4 acres with a combined total net sales value of RM149.5 million. The following are details of the various types of properties of Taman Anggerik Tenggara 1 and 2 developments: Gross Area per Net Sales Units Units unit Value Type of development developed sold (square feet) (RM million) Residential property Single-storey terrace houses 1,547 1,547 1,200 to 5,030 118.1 Double-storey terrace houses 72 72 1,540 to 4,478 7.1 Commercial property Single-storey shop offices 178 178 1,540 to 2,264 24.3 (xvii) Taman Pulai Impian Taman Pulai Impian was our first property development project with gated and guarded community concept in Seremban, Negeri SembiIan. The residential development comprised double-storey terrace houses and double­storey semi-detached houses on a total site area of 55.0 acres. Taman Pulai Impian is surrounded by schools, clinics, shopping complexes and other amenities. The total net sales value of the development was RM94.9 million. The following are details of the various types of properties in Taman Pulai Impian development: Gross Area per  Net Sales  Units  Units  unit  Value  Type of development  developed  sold  (square feet)  (RM million)
Residential property Double-storey t~rrace houses 563 563 1,540to 5,813 75.1 Double-storey semi-detached 104 104 3,375 to 7,126 19.8 houses (xviii) Taman Oesa PO Our Group has completed the development of Taman Desa PD 1 and Taman Oesa PD II -Phase 1 while Taman Desa PD 3 is one of our on-going projects. Taman Desa PD 1 and Phase 1 of Taman Desa PO II were mixed residential and commercial developments comprising single-storey terrace houses and single-storey shop offices in Port Dickson, Negeri Sembilan. The on-going Taman Desa PD 3 is a residential development comprising single­storey terrace houses. Taman Desa PD is located close to basic amenities such as schools, educational institutions and hospitals. The combined total site area of Taman Oesa PD 1 and Phase 1 of Taman Desa PO II is 103.0 acres with a combined total net sales value of RM1 00.0 million. 5. BUSINESS OVERVIEW (Cont’d) Taman Oesa PO 3 has a total site area of 4.3 acres with a net sales value of RM5.5 million. The following are details of the various types of properties in Taman Oesa PO 1, Phase 1 of Taman Oesa PO II and Taman Oesa PO 3 development: Gross Area per  Net Sales  Units  Units  unit  Value  Type of development  developed  sold  (square feet)  (RM million)
Completed  Residential property Single-storey terrace houses  1,212  1,212  1,300 to 6,911  98.9  Commercial property Single-storey shop offices  11  11  1,400 to 3,240  1.1
On-going Residential property Single–storey terrace houses 56 56 1,100 to 2,615 5.5 (xix) Matrix Point Matrix Point was a commercial property development project comprising three-storey shop offices in Seremban, Negeri Sembilan. The development is located in close proximity to a school and market. The total site area of Matrix Point is 0.5 acres with a total net sales value of RM4.8 million. The following are details of the various types of properties of Matrix Point development: Gross Area per  Net Sales  Units  Units  unit  Value  Type of development  developed  sold  (square feet)  (RM million)  Commercial property  Three-storey shop offices  7  7  2,179 to 2,194  4.8  (xx)  Taman Bukit Sendayan
Taman Bukit Sendayan was a residential property project comprising single­storey terrace houses located in Seremban, Negeri Sembilan. The project had a total net sales value of RM50.8 million. The total site area of Taman Bukit Sendayan was 55.3 acres. The following are details of the various types of properties of Taman Bukit Sendayan development: Gross Area per  Net Sales  Units  Units  unit  Value  Type of development  developed  sold  (square feet)  (RM million)  Residential property  Single-storey terrace houses  670  670  1,300 to 4,607  50.8
5. BUSINESS OVERVIEW (Cant’d) (xxi) Arawana Indah Arowana Indah was a mixed property development project comprising single­storey and double-storey terrace houses as well as low cost single-storey terrace houses. Arowana Indah is located in Seremban 2, Seremban, Negeri Sembilan and within the vicinity of state government administration centre, state police department, fire department, shopping complexes and other public facilities. The total site area of Arowana Indah was 27.4 acres with a total net sales value of RM44.5 million. The following are details of the various types of properties of Arowana Indah development: Gross Area per  Net Sales  Units  Units  unit  Value  Type of development  developed  sold  (square feet)  (RM million)
Residential property Single-storey terrace houses 188 188 1,360 to 5,166 19.4 Double-storey terrace houses 156 156 1,400 to 3,595 23.3 Low cost single-storey terrace 39 39 1,100 to 2,249 1.8 houses (xxii) Matahari Indah Matahari Indah was a residential property project comprising single-storey and double-storey terrace houses in Bandar Senawang, Negeri Sembilan. The project had a total net sales value of RM48.4 million on a total site area of 30.2 acres. The following are details of the various types of properties of Matahari Indah development: Gross Area per Net Sales Units Units unit Value Type of development developed sold (square feet) (RM million) Residential property Single-storey terrace houses 277 277 1,400 to 4,736 28.5 Double-storey terrace houses 130 130 1,400 to 2,702 19.9 THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK
5. BUSINESS OVERVIEW (Cont’d) The following are details of the various types of properties of Taman Pulai Perdana development: Gross Area per  Net Sales  Units  Units  unit  Value  Type of development  developed  sold  (square feet)  (RM million)
Residential property Double-storey terrace houses 155 155 1,540 to 4,983 26.4 Double-storey semi-detached 22 22 3,778 to 6,189 5.5 houses 22 22 1,100 to 2,088 1.0 Low cost single-storey terrace houses Commercial property Double-storey shop offices 32 32 1,650 to 3,379 8.7 (xxvi) Taman Seri Impian Taman Seri Impian, which covers an area of approximately 900 acres, was the first of our Group’s two flagship projects. The project involved the development of residential and commercial properties to establish Taman Seri Impian as a new township. The project was the result of a joint-venture with KKTNJB. Taman Seri Impian is located in Kluang, Johor where it is within close proximity to various public amenities such as hospitals, schools, bus and taxi terminals, healthcare centre, library, fire department, post office and police station as well as a recreation park and markets. Taman Seri Impian is easily accessible via the Jalan Kluang-Bandar Tenggara road with proposed connections to interchangelexit points to the Kluang -Pasir Gudang Expressway. The development of Taman Seri Impian was undertaken in various phases. As at LPD, our Group has completed the development of 2,498 units of residential properties and 69 units of commercial properties through the developments of Taman Seri Impian 1, Impiana Avenue 1, Parcel 1 and Parcel 2 of Taman Seri Impian 2, Taman Seri Impian 3 (Impiana Garden 1), Taman Seri Impian 3 (Impian Garden 2 -Modena), Taman Seri Impian 3 (Impiana Garden 2), Impiana Avenue 2 and’impiana Villa 1. The residential properties in these p~ases are single-storey· and double-storey terrace houses and bungalows while the commercial properties are double-storey shop offices. We are also undertaking the development of various on-going phases of Taman Seri Impian, including Taman Seri Impian 4 (Impiana Casa 1 and 2). When completed, these phases will comprise 753 units of residential properties. Taman Seri Impian 4 (Impiana Casa 1 and 2) comprises single­storey and double-storey terrace houses. In addition, more developments of residential and commercial properties in Taman Seri Impian have been planned for future developments. Please refer to Section 5.7.3 of the Prospectus for further details on our future plan. The combined total site area of our completed projects at Taman Seri Impian was approximately 268.3 acres with a combined net sales value of RM338.7 million. For the on-going projects, the combined total site area is 32.5 acres with a GDV of RM147.6 million. 5, BUSINESS OVERVIEW (Cont’d) The following are details of the various types of completed and on-going properties of Taman Seri Impian development: Gross Area per  Net Sales  Units  Units  unit  Value  Type of development  developed  sold  (square feet)  (RM million)
Completed Residential property Single-storey terrace houses Double-storey terrace houses Single-storey bungalows Double-storey bungalows Commercial property Double-storey shop offices On-going Residential property Single-storey terrace houses Double-storey terrace houses 2,188 149 96 65 69 480 273 2,188 149 95 64 69 457 262 1,400 to 7,855  232.2  1,650 to 5,187  24.8  3,820 to 8,619  32.7  3,835 to 7,350  31.1  1,400 to 3,588  18.0  1,400 to 3,853  71.3  1,625 to 6,394  67.8
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Impiana Avenue 1 and 2 – Double-Storey Shop offices
Impiana Garden – Modena Taman Seri Impian – Playground
Impiana Casa – Single-Storey and Double-Storey Terrace Houses Impiana Casa – Single-Storey and Double-Storey Terrace Houses (Artist Impression)

Impiana Villa 1 – Double-Storey Bungalows Impiana Villa 1 – Playground
Impiana Villa – Single-Storey and Double-Storey Bungalows 5. BUSINESS OVERVIEW (Cont’d) (xxvii) Bandar Sri Sendayan Bandar Sri Sendayan is our Gnoup’s second flagship pnoject. The pnoject involves the development of a new integrated township, which is undertaken thnough a joint-venture with the MBI. Bandar Sri Sendayan is located on a 5,233-acre plot of land in Seremban, Negeri Sembilan. As an integrated township, Bandar Sri Sendayan comprises a mixed development of residential, commercial, industrial, leisure and institutional properties as well as government and agriculture properties and undeveloped land. As part of the township community planning, various public amenities have been planned and established in Bandar Sri Sendayan including, among others, police station and beat houses for police taskforce patrol services, fire department, petrol station, surau/mosque, supermarket and shopping centres, kindergarten and schools, medical centre/health clinic, multi-purpose hall, pedestrian-friendly walkways and pavements, landscaping, fibre-optic backbone to cater for high speed broadband, access roads linked to highways and surrounding areas. Bandar Sri Sendayan would also include a 26-acre green park with amphitheatre, view deck, gazebos, fitness centres, football field, reflexology path, skating area, yoga and tal chi lawns as well as other facilities. The park is currently being developed. In addition, various other government buildings are currently being built or have been planned for development. The state Islamic Syariah Court Complex is expected to be occupied in the third quarter of 2013. Bandar Sri Sendayan is located close to the Seremban toll as well as various townships and industrial areas such as Seremban 2, S2 Heights, Bandar Enstek, Oakland Commercial Centre and Industrial Park, Bandar Ainsdale, Tuanku Jaafar Industrial Park, Senawang Industrial Park and Nilai Industrial Estate, hence residents in Bandar Sri Sendayan can also easily access the various facilities in these areas such as goif resort, lake park, schools, petrol station, hospital, clinic, shopping complex, hypermarket, fire station, police station, train station as well as seek employment opportunities in these areas. Nevertheless, it is also within close proximity to Kuala Lumpur International Airport (KLlA), the low cost carrier terminal (LCCT) and the KL city whilst being accessible from various metropolitan areas in Klang Valley. In addition, Bandar Sri Sendayan’s close proximity to various transportation networks including rail, road, sea and air also ensures ease of transportation of goods from and to various local and international locations. As at LPD, our Group has completed the development of 2,727 units of residential properties in Bandar Sri Sendayan through various projects namely Nusari Bayu 1, Nusari Bayu 2A, Atiya@Nusari Aman, idaman Bayu, Nusari Aman 1A, Nusari Aman 2A, Cosmoxia@Nusari Aman 2A and Nusari Bayu 3 -Phase 1 and 2. The types of residential properties developed in these residential areas include single and double-storey terrace houses, single-storey and double-storey semi-detached houses. 5. BUSINESS OVERVIEW (Cont’d) As at LPD, our Group has also completed the development of 90 units of commercial properties, namely single-storey and double-storey shop offices, commercial plots and a single-storey stall through the development of Nusari Aman 2A, Nusari Bayu 3 -Phase 2 and Sendayan Metropark respectively. Our Group is also undertaking various on-going projects in Bandar Sri Sendayan which encompass the development of residential, commercial and industrial properties. Our on-going residential development projects include Nusari Aman 1B, Nusari Aman 2, Nusari Aman, Nusari Bayu 2B, Hijayu 1B, Hijayu 3D and Idaman Bayu 2. The residential properties being developed in these projects include single-storey and double-storey terrace houses as well as single­storey semi-detached houses. Our other on-going commercial development projects are mainly double and three-storey shop offices in Metropark Shop 1A as well as commercial lots at Sub Centre at Nusari Bayu and Nusari Hijayu. We are also undertaking the development of Sendayan TechValley 1 and 2, which consist of industrial plots with some basic infrastructure. Sendayan TechValley is to be developed into a techno-entrepreneur park and eco-friendly township for various businesses including knowledge-based and institutions, information and communications technology, biotechnology, research and development, manufacturing and processing as well as industries related to medical and scientific, aerospace, electronics, agriculture and agro based as well as telecommunications, electro-optics and optoelectronics businesses. As at LPD, Sendayan TechValley had attracted various automotive and aviation operators to set-up operations in the area. Our Group has recently commenced the development of Sendayan clubhouse as part of our plans to develop Bandar Sri Sendayan into an integrated township with its own leisure facilities to the community of Bandar Sri Sendayan. This project will be our first foray into development of leisure properties since we commenced our property development operations. The development of the clubhouse include various sports and recreational facilities, retail and dining outlets, fitness centre as well as a therapeutic treatment facility. Some of the sports and recreational facilities include, among others Olympic size swimming pool, bowling alley, fulsal court, badminton and indoor tennis courts, table tennis centre and games room. It will also offer different types of dining outlets including an indoor cafeteria, outdoor dining outlets as well as restaurants and a banquet hall. We intend to manage the clubhouse which will be operated by our subsidiary, 1 Sendayan Club. We commenced development of our clubhouse in September 2012 and is scheduled to be completed by March 2014. We intend to utilise RM10.0 million from the IPO proceeds for the development of our clubhouse in Bandar Sri Sendayan. Various other projects have also been planned for future developments, which include a mixed development of residential, commercial, industrial, leisure and institutional properties. Please refer to Section 5.7.3 of the Prospectus for further details on our future plans. The combined site area of our completed development in Bandar Sri Sendayan was approximately 281.5 acres with a combined GDV of RM497.0 million. For the on-going projects, the combined site area is 746.0 acres with an estimated combined GDV of RM1,248.5 million.
Idaman Bayu – Single-Storey and Double-Storey Terrace Houses Idaman Bayu – Double-Storey Terrace Houses

Nusari Aman 2A – Single-Storey Terrace Houses and Double-Storey Semi-detached Houses
Nusari Aman 2A – Double-Storey Terrace Houses Nusari Aman 2A – Medan Nusari Community Shops

 

Nusari Bayu 2A (Cosmoxia) – Living Room and Dining Hall in Show House 113
Nusari Aman 2 – Single-Storey and Double-Storey Terrace Houses
Artist Impression of Nusari Aman 1B – Double-Storey and Single-Storey Terrace Houses
Nusari Bayu 3 – Bedroom and Living Room in Show House Nusari Bayu 3 – Single-Storey and Double-Storey Terrace Houses

Artist Impression of Metropark
Artist Impression of Nusari Aman 2D – Double-Storey Terrace Houses
I 5. BUSINESS OVERVIEW (Cont’d) We will continue to focus on future property development projects in Seremban, Negeri SembiIan and Kluang, Johor. The summary of our Group’s future projects are listed as follows: I ExpectedEstimated Commencement Type of I Estimated INumber of GDV and Completion Acres Development/Land Units/Lots (RM million) Dates Single-storey terrace  300  houses  Double-storey terrace  3,254  houses  Double-storey semi­ 200  detached houses  Double-storey bungalows  169  Bungalow plots  7  Double-storey shop offices  551  Three-storey shop offices  4  Commercial plot  21  Double-storey corporate  84  showroom/factories  Double-storey semi­ 30  detached corporate  showroom/factories  Industrial plots  32  Institute  1  Double-storey terrace  148  houses  Double-storey semi­ 38  detached houses  Double-storey bungalows  31  Double-storey shop offices  26  Commercial lots  2  Single-storey terrace  1,632  houses  Double-storey terrace  2,000  houses  Single-storey terrace  608  houses  Double-storey terrace  430  houses  Double-storey semi­ 240  detached houses  Double-storey bungalows  54  Double-storey shop offices  675  Three-storey shop offices  92
79.5 1,461.3 804.5 160.0 278.4 22.8 780.7 7.2 128.9 58.8 30.0 182.0 50.0 81.441.8 32.3 31.0 39.32.8 6.1 326.4294.6 600.0 115.5293.5′” 129.0 116.7 48.6 318.3 82.8 I 1,437.2′” 10,629 5,167.0 June 2013­December 2018  July 2013­June 2015  July 2013­June 2016  January 2016­December 2018  September 2013 ­June 2019
I III (1) Include acreage ofland yet to be planned for development in Taman Seri /mpian. IFuture projects 1 Bandar Sri Sendayan Third 92 Residence Lobak3 Commercial Centre 4 Kota Gadong Perdana 5 Taman Seri Impian I Total Note: 5. BUSINESS OVERVIEW (Cont’d) Between June 2013 and 2019, our future projects in Negeri Sembilan and Johor would have an estimated combined total GDV of RM5.2 billion based on the projects listed above. Our future plans will be focused on the development of new townships, namely Bandar Sri Sendayan and Taman Seri lmpian as well as several residential property projects. In addition to residentiai, commercial, industrial and leisure properties, our Group will commence the development of institutional properties in Bandar Sri Sendayan to create value to our surrounding properties. These will include educational institutions which we will retain ownership and management of operations. Moreover, our Group is currently in the midst of planning for the future development of Sendayan Icon Park in Bandar Sri Sendayan, which is expected to house commercial and leisure properties. We intend to utilise RM55.0 million for the development of infrastructure and common facilities for our future projects. 5.7.2.2 Bandar Sri Sendayan Bandar Sri Sendayan is one of our flagship projects which involve the development of a new integrated township on a total site are of 5,233 acres in Seremban, Negeri Sembilan. Our Group had commenced the development of Bandar Sri Sendayan since 2008. As at LPD, our Group had completed 2,653 units of terrace houses, 74 units of semi-detached houses, 71 units of shop offices, 18 lots of commercial plots and one unit of single-storey stall in Bandar Sri Sendayan. (Please refer to Section 5.7.1 (xxvii) of the Prospectus for further details on the completed and on-going projects in Bandar Sri Sendayan) As at LPD, the township is partially completed with basic public amenities, residential properties and retail businesses. Some of the retail businesses are already operational. In addition to our on-going residential, commercial, industrial and leisure projects, there are various other government and private projects being undertaken in Bandar Sri Sendayan including the development of pUblic amenities, construction of government buildings and factories. As part of our future plans to develop Bandar Sri Sendayan into an integrated township, we are continuing to develop a mixed of residential, commercial, industrial, leisure and institutional properties. These developments will be undertaken through various projects which are as follows:  I EstimatedNumber  Estimated  ,  Expected  Future  Type of  of  GDV  Commencement and
1 2  projects Hijayu 1A Hijayu 3C  Acres 67.3 38.4  Development DOUble-storey terrace houses DOUble-storey terrace houses  UnitslLots 666 394  (RM mittion) 246.4 153.7  Completion Dates June 2013­May 2015 September 2013 ­August 2015  3  Hijayu 38  32.5  DOUble-storey terrace houses  334  140.3  January 2014 ­December 2015  4  Sendayan Merchant Square 1  29.4  Double-storey shop offices Commercial plots  154 3  202.2 10.0  March 2014­February 2016
5. BUSINESS OVERVIEW (Cant’d) 5  Future ‘projects Sendayan Auto City  Acres 115.2  Type of Development Commercial plots Industrial plots  . -. .­10 32  -. • 70.0 182.0  .. . . .. . .. January 2014­December 2016  6  Hijayu 3A  52.1  Single-storey terrace houses Double-storey terrace houses  150 439  37.5 162.4  June 2014­May 2016  7  Hijayu (Resort Homes)  85.1  Double-storey semi­detach.ed houses Double-storey terrace houses  200 308  160.0 154.0  June 2014­May 2017  8  Hijayu (Resort Villa)  49.5  Double-storey bungalows Bungalow plot  102 1  157.8 4.0  September 2014­August 2017  9  Hijayu (Residence)  56.0  Double-storey bungalows  67  120.6  September 2014­August 2017  Bungalow plots  6  18.8  10  Idaman Yu 1  44.5  Double-storey terrace houses  235  112.8  September 2014­October 2016  Single-storey terrace houses  150  42.0  Double-storey shop offices  17  13.6  11  Idaman Yu 2  101.7  Commercial plot Double-storey terrace houses  1 878  1.5 491.7  January 2015­December 2017  Double-storey shop offices  21  21.0  Commercial plot  1  3.0  12  Sendayan Metropark Shop 1B  2.5  Double-storey shop offices Three-storey shop offices  28 4  42.0 7.2  January 2015 ­December 2017  13  Sendayan Merchant Square 2  49.9  Double-storey shop offices Commercial plots  149 4  223.5 40.0  March 2015­February 2017  14  Sendayan Metropark Shop 2  15.0  Double-storey shop offices  150  240.0  January 2016 ­December 2018
5. BUSINESS OVERVIEW (Cont’d) I EstimatedNumber Estimated Expected , Future Type of of GDV Commencement and projects Acres Development Units/Lots (RM million) Completion DatesI Double-storey shop @ Sendayan 15 Sub Centre 46.4 offices TechValley Commercial plot1A Double-storey semi­detached corporate showrooms/factories Double-storey corporate showroomslfadories 1 Sendayan 19.0 Commercial plot Clubhouse 16 Institute 32 1 30 84 1 1 38.4 1.7 30.0 588 2.7 50 January 2016 ­December 2018 September 2013­August 2015
Residential Developments in Bandar Sri Sendayan The Hijayu developments are essentially residential developments within Bandar Seri Sendayan. Some of the Hijayu developments such as Hijayu Resort Homes, Resort Villas and Residence are catered towards the upper medium end of the market with double-storey semi-detached houses and bungalows. Idaman Yu  is  a  mixed development comprising  both  residential  and  commercial  properties.  We  intend  to  commence  the  various  residential  developments  in  Bandar  Sri
Sendayan by June 2013 and the expected completion of the respective residential developments is scheduled for 2017. Commercial, Industrial, Leisure and Institutional Developments in Bandar Sri Sendayan The Sendayan Merchant Square and Sendayan Metropark are mainly commercial developments comprising two and three-storey shop offices and some commercial land. The Sub Centre @ Sendayan TechValley 1A development consists of corporate showrooms/factories, shop offices and commercial land. The Sendayan Clubhouse development consists of a clubhouse, commercial plot and educational institutions. This is part of our plans to develop Bandar Sri Sendayan into an integrated township with its own leisure and educational facilities to the community of Bandar Sri Sendayan. This project will be our first foray into development of leisure and institutional properties since we commenced our property development operations. We have commenced development of the clubhouse in September 2012.

5. BUSINESS OVERVIEW (Cont’d) 5.7.2.5 Kota Gadong Perdana The Kota Gadong Perdana is a joint-venture residential property project between Riverine Projects and landowner, MAINS. The development is located on a 294.56­acre plot of land in Seremban, Negeri Sembilan, next to our current development, Bandar Sri Sendayan. The development in Bandar Sri Sendayan is expected to create job opportunities in Bandar Sri Sendayan itself, which would create demand for the surrounding residential properties, including Kota Gadong Perdana. In addition, Kota Gadong Perdana is located next to the new Seremban Interchange on the North-South Expressway, which is currently under development, and about 20 kilometres from Seremban town and the Kuala Lumpur International Airport. Kota Gadong Perdana is a large scale residential property development consisting of 1,632 units of single-storey terrace houses and 2,000 units of double-storey terrace houses. The GDV of Kota Gadong Perdana is approximately RM926.4 million. The project is scheduled to commence development by 2016 and expected to be completed by 2018. 5.7.2.6 Taman Seri Impian -Johor Taman Seri Impian is our first flagship project. The project involves the development of residential and commercial properties in the new township in Kluang, Johor. Our Group has begun the development of various residential and commercial properties in Taman Seri Impian since 2006. (Please refer to Section 5.7.1(xxvi) of the Prospectus for further details on the completed and on-going projects in Taman Seri Iri1pian) As at the LPD, the new township is partially completed with various public amenities as well as residential and commercial properties. Part of our future plans is to continue the development of various gated and guarded residential and commercial properties in Taman Seri Impian. The following is a detailed list of the development within Taman Seri Impian: Future projects  “. .-” ..  ”  . .  . .. .-.  ~ ..  ….. . .. ” .  1  Impiana Bayu 1  167.0″)  Single-storey terrace houses Double-storey terrace houses  304 215  54.7 60.2  September 2013­August 2015  Impiana Bayu 2  Single-storey terrace houses Double-storey terrace houses  304 215  60.8 68.8  June 2014­May 2016  2  Irnpiana Avenue 3  2.3  Double-storey shop offices  60  19.2  January 2014­December 2015  3  Impiana Villa 2  23.7  Double-storey bungalows Double-storey semi-detached houses  54 74  48.6 37.0  January 2014 ­December 2016  4  Impiana Avenue 4  2.8  Double-storey shop offices  75  26.3  January 2015 ­December 2016  5  Impiana Villa 3  21.4  Double-storey semi-detached houses  166  79.7  January 2015 ­December 2017
I 5. BUSINESS OVERVIEW (Cont’d) ExpectedEstimated I Estimated GDV Commencement Future Number of (RIVI and Completion projects I Acres , Type of Development/Land I UnitslLots million) Dates Double-storey shop offices
51 21.4 June 2015­Irnpiana 2.46 May 2017 7
Avenue 5 732.7 Double-storey shop offices 29.2 January 2016­Impiana December 2017Avenue 6 39.6 Double-storey shop offices July 2016­8 416 222.2Impiana Avenue 7
June2019 ~Three-storey shop offices 92 82.8 Nole: (1) Include acreage of land yet to be planned for development. The respective developments within Taman Seri Impian are scheduled to commence development by September 2013 and expected to be completed by 2019. 5.7.3 Milestones The following table indicates the timing for the implementation of our future plans:
Bandar Sri Sendayan(1)  ~(2)  ~  ~  ~  Third 9 Residence Lobak Commercial Centre Phase 1 and 2 Kola Gadong Perdana  ~(3) ~(3)  ~  Taman Seri Impian(1)  ~4)  ~
Notes: (1) Multiple launches.
(2) Estimated to commence in June 2013.
(3) Estimated to commence in July 2013.
(4) Estimated to commence in September 2013.

5.7.4 Prospects of our group The prospects of our Group are dependent on the following factors: Good business performance; Competitive advantages and key strengths; Future plans to provide sustainable grow1h; and Industry prospects and outlook.
5. BUSINESS OVERVIEW (Cont’d) 5.7.4.1 Good Business Performance Our good business performance is supported by the following financial achievements between the FYE 31 December 2011 and 2012: Gross profit grew by 29.9%; Profit before tax grew by 34.3%; and Profit after tax grew by 29.5%.
Between FYE 31 December 2009 and 2012, our financial performance was as follows: Revenue grew at an average rate of 30.7% year-on-year; Gross profit grew at an average rate of 60.8% year-on-year; Profit before tax grew at an average rate of 80.2% year-on-year; and Profit after tax grew at an average rate of 75.5% year-on-year.
The good financial performance over the last four years will provide us with the platform for continuing business success and growth. 5.7.4.2 Competitive Advantages and Key Strengths Our competitive advantages and key strengths will provide a platform for continuing growth and success. These include the following: We have developed a new integrated township; Our new township in Bandar Sri Sendayan is strategically located; We have on-going and future projects up till 2019; We achieved high take-up rates for properties developed by us; We have established track record; We have a diversified product portfolio; We have experience in joint-venture projects with the State Governments; Growth in launch prices of properties developed by us; We have high impact Government and industrial developments; and We have qualified and experienced management team.
(Please refer to Section 5.2 ofthe Prospectus for further details) 5.7.4.3 Future Plans to Provide Sustainable Growth Moving forward, we have in place a sound business and expansion plan. Our future plans are mainly focused on projects in Seremban, Negeri Sembilan and Kluang, Johor as follows: Bandar Sri Sendayan; Third 9 Residence; Lobak Commercial Centre Phase 1 and 2; Kota Gadong Perdana; and Taman Seri Impian.
Our future plans would provide us with the platform to grow our business. 5.7.4.4 Industry Prospects and Outlook As our Group is focused on property development, our business prospects are also dependent on the general prospects and outlook of the Property Development Industry in Malaysia. 5. BUSINESS OVERVIEW (Cont’d) Based on the industry prospects and outlook in Malaysia (as disclosed in Section 6 of the Prospectus), the outlook of the property development industry in Malaysia is generally dependent on the performance of the following: Malaysian economy and the construction sector; Performance of the property sector; Malaysian Government’s initiatives; Policies for housing loans; Population growth; and Synergistic growth led by surrounding developments. Malaysian Economy and the Construction Sector Real GDP of the Malaysia economy and construction sector have both registered growth based on five-year performance between 2008 and 2012. Looking forward, continuing growth is also expected for the Malaysia economy and construction sector in 2013. Positive growth in the overall economy and the construction sector would augur well for property developers, including our Group. Performance of the Property Sector Sales value and volume of property transactions in Malaysia, Negeri Sembilan and Johor recorded positive growth between 2008 and 2012. Planned and incoming supply for Negeri SembiIan and Johor are as follows: Negeri Sembi/an -Growth Rate in 2012 2012 Planned Incoming Supply Supply (%) (%) Residential Units (1.1) 5.6 Shop Units 4.6 22.2 Industrial Units (0.3) 0.8 Space in Shopping Complexes (28.3) 55.2 Space in Purpose-Built Offices (6.8) 135.9 Johor -Growth Rate in 2012 2012 Planned Incoming Supply Supply {%j (%) Residential Units 2.3 11.9 Shop Units (5.0) 19.2 Industrial Units 2.8 25.2 Space in Shopping Complexes (518) Space in Purpose-Built Offices (0.8) 5. BUSINESS OVERVIEW (Cont’d) Malaysian Government’s Initiatives The on-going development of the five regional economic corridors, the launch of My First Home Scheme, Government subsidised houses, the Second Rolling Plan, the Educity@KLEC project, the construction of Johor Bahru-Nusa Jaya coastal highway, the implementation of Flood Mitigation Plan (RTB) in Sungai Segamat and development of electrified double-track railway project from Johor Bahru to Padang Besar in Perlis undertaken by the Malaysian Government would benefit operators in the Property Development Industry, including our Group. Population Growth Population in Malaysia, Negeri Sembilan and Johor have all registered growth between 2010 and 2012. The growing population in Malaysia, Negeri Sembilan and Johor will provide opportunities to the Property Development Industry, inclUding our Group. Policies for Housing Loans The latest housing loan policies and lighter borrowing guidelines implemented by Bank Negara Malaysia may have an impact on the Property Development Industry, including our Group. For the FYE 31 December 2012, our business performance has not been affected by the latest housing loan policy implemented in November 2010. This is supported by the fact that our revenue contribution from residential properties registered a growth of 28.8% for the FYE 31 December 2012. In addition, our Group offers various types of residential properties including single­storey and double-storey houses as well as semi-detached houses and bungalows to suit the needs of various income group and individual preferences. Synergistic Growth led by Surrounding Developments Our Group may also benefit from synergistic growth led by the large-scale projects in the surrounding areas of Bandar Sri Sendayan including integrated township developments such as Bandar Enstek, mixed developments such as Seremban 2, commercial development such as Oakland Commercial Centre and residential developments such as Bandar Ainsdale and S2 Heights as well as industrial areas such as Oakland Industrial Park, Tuanku Jaafar Industrial Park, Senawang Industrial Park and Nilai Industrial Estate. All these existing, on-going and new developments and townships will provide flow-on benefits whilst at the same time create critical mass to spur economic activities to encourage business and industrial investments. THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK 5. BUSINESS OVERVIEW (Cont’d) 5.8 TYPES, SOURCES AND AVAILABILITY OF RESOURCES The following are the building materials and services that we purchase from external parties for FYE 31 December 2012:
100.0Concrete 16,805 8.5 Concrete materials {1} 11,629 100.05.9 100.0Steel bars and metal 8,621 4.3 BRC wire mesh 7,650 3.9 100.0 Clay materials (2) 7,537 3.8 100.0 Crusher run, aggregates and 6,377 3.2 100.0quarry dust Premix 5,242 2.6 100.0 Cement 4,783 2.4 100.0 Wood materials (3) 4,003 100.02.0 Hardware (4) 3,707 97.91.9 2.1 Coarse, fine and washed sand 3,139 1.6 100.0 Roof tiles and metal deck 100.02,288 1.2roofing Cow and green grass 1,681 0.8 100.0 Pre~cast drain and pipe culvert 747 0.4 100.0 Others (5) 471 0.2 100.0 Buildin& and construction 54,617 27.5 100.0works } Earthworks 27,834 14.0 100.0
Mechanical and electrical 11,517 5.8 100.0works (7) Interior works (8) 8,788 4.4 100.0 Transportation and rental 5,222 2.6 100.0charges (9) Civil engineering works (10) 5,046 2.5 100.0
Others {“) 756 0.4 100.0

—-_._–­5. BUSINESS OVERVIEW (Cont’d) Notes: A Total does not add-up due to rounding * Includes stockists # Insignificant proportion of less than 0.1 %
(1) Includes box culvert, drain, concrete cornice, cement sand bricks, reinforced concrete piles, Bakau piles and reinforced concrete pipes. (2) Includes ceramic tiles and vitrified clay pipes.
(3) Includes composite doors, plywood and timber
(4) Includes, among others, metal door frames, alpha locks and locksets, fencing and swing gates, man-hole covers and alloy steps, Polyvinyl Chloride (PVC) groove joints, fitting posts and

scaffolding. (5) Includes co/pave 0;/, ceiling, hydroseeding works, geo/ex/fles, non-metallic floor hardener, paints, putty and Polyethylene sheets. (6) Includes roofing, bricklaying, plastering, aluminium and stainless steel glazing, sanitary, plumbing, fencing, ironmongery, tiling, ceiling, bar bending, paving, flashing and guttering, pipe jacking, remedial, external, piling, concreting and structural works (7) tncludes installation of electrical products and fittings, telephone infrastrocture, traffic fights, sewerage treatment plant and pumping systems.
(8) Includes carpentry, painting and skim coat and laminate flooring laying
(9) Includes transportation ofmaterials and rental of machinery and excavators.
(10) Includes constroction works of desilting for retention pond, rock blasting, drainage and

sewerage and road marking. (11) Includes installation ofplayground equipment, landscaping and other ancillary works Purchases in the above refer to building malerials and s€lVices purchased by our Group during the FYE 31 December 2012 regardless of the stage of completion of our projects and number of property and land sold during the year. Total purchases of building materials and sub-contracted services for the FYE 31 December 2012 amounted to RM198.5 million after exclusion of inter-company transactions. The principal business activities of our Group are in sales of land and property development. We outsource the building and construction activities to external sub-contractors to enable us to focus on our property development activities. However, we have our own internal procurement arm to source most of the building and construction materials for the building and construction of our own property developments. Through direct sourcing of building materials for all our projects, we are able to obtain volume discounts through bulk purchase and stronger bargaining power to obtain better commercial terms from suppliers. For the FYE 31 December 2012, almost 100.0% of our purchases were sourced locally while an insignificant proportion of less than 0.1 % of our purchases was sourced from local stockists. For the FYE 31 December 2012, purchases of materials accounted for 42.7% while services accounted for 57.3% of our total Group purchases of building materials and services. Purchases of Building Materials Of our purchases of building materials for FYE 31 December 2012, concrete represented our largest purchases, which accounted for 8.5% of our total Group purchases of building materials and services. This was followed by purchases of concrete materials and steel bars and metal, which accounted for 5.9% and 4.3% of our total Group purchases of building materials and services for FYE 31 December 2012 respectively. For FYE 31 December 2012, purchases of BRC wire mesh, clay materials and the combined total of crusher run, aggregates and quarry dust accounted for 3.9%, 3.8% and 3.2% of our total purchases of building materials and services respectively. 5. BUSINESS OVERVIEW (Cont’d) For FYE 31 December 2012, purchases of premix, cement and wood materials accounted for 2.6%,2.4% and 2.0% of our total purchases of building materials and services respectively. For the FYE 31 December 2012, hardware, sand, roof tiles and metal deck roofing, grass and the combined total of pre-cast drain and pipe culvert accounted for 1.9%, 1.6%, 1.2%, 0.8% and 0.4% of our total purchases of building materials and services respectively. Purchases of other materials including colpave oil, ceiling, hydroseeding works, geotextiles, non-metallic floor hardener, paints, putty and polyethylene sheets accounted for 0.2% of our total Group purchases of building materials and services for FYE 31 December 2012. Purchases of Services For FYE 31 December 2012, building and construction works represented 27.5% of our total Group purchases of building materials and services. This was followed by purchases of sub­contracted earthworks, which accounted for 14.0% of our total Group purchases of building materials and services for FYE 31 December 2012. Purchases of sub-contracted mechanical and electrical works, interior works as well as civil engineering works accounted for 5.8%, 4.4% and 2.5% of our total purchases of building materials and services respectively. Transportation and rental charges and purchases of other services accounted for 2.6% and 0.4% of our total Group purchases of bUilding materials and services for FYE 31 December 2012. Other services include installation of playground equipment, landscaping and other ancillary works. As at the LPD, our Group has not experienced any shortages in the supply of building materials and services mentioned above. Any increase in the price of raw materials may affect our Group’s profitability. In order to minimise such adverse effects, our Group carefully monitors the project costing and budget on a timely basis before any launch of our development projects. Prior to the purchase, our internal procurement team will obtain quotations from various suppliers for comparison and evaluate in terms of pricing, specifications, quality and delivery turnaround time. We will also monitor via internal procedures including site material checklist and monthly reporting to our management. This process of monitoring the project costing and budget of the Group is in line with the ISO requirements. 5.9 MAJOR CUSTOMERS The table below lists our customer which represented 10% or more of our total Group revenue for the FYE 31 December 2010 to 2012: Products I <—————-FYE 31 December —————->Name of Length of Services customer relationship purchased 2010 2011 2012 Years RM’OOO %(1) RM’OOO %(1) RM’OOO 1 Malaysia 750 acres of Development < 1 undeveloped 294,030 47.1 Berhad land
Note: (1) Based on the total revenue of the Group for the respective year, excluding inter-company transactions. Our customers include corporate and individual owner-occupiers and investors as well as others such as government entities. 5. BUSINESS OVERVIEW (Cont’d) Save for 1MDB, our Group does not have any major customers which contribute 10% or more to our total Group revenue for the FYE 31 December 2010 to 2012. The sale of undeveloped land to 1MDB was a one-off transaction for the purpose of setting-up a new academia and training centre for the Royal Malaysian Air Force and the relocation of the Sungai Besi base to Bandar Sri Sendayan in Negeri Sembilan. 5.10 MAJOR SUPPLIERS / CONTRACTORS Our Group’s major supplier/contractor (i.e. those who contributed 10% or more of our Group’s total purchases) for the FYE 31 December 2010 to 2012 were as follows: Products I <—————-FYE 31 December ————–_.>Name of Length of Servicessupplier relationship provided 2010 2011 2012 Years RM’OOO %(1) RM’OOO %pJ RM’OOO %(1) KSJ Construction 13 Earth works 13,864 12.5 25,603 16.0 27,834 14.0Sdn Bhd Note: (1) Based on the total purchases of building materials and services of our Group for the respective year, excluding inter-company transactions. KSJ Construction Sdn Bhd accounted for more than 10% each of our Group’s total purchases for the FYE 31 December 2010 to 2012. However, the following factors help us to mitigate against dependency on KSJ Construction Sdn Bhd: KSJ Construction Sdn Bhd has been our supplier for earthwork services since 2000. Our long term relationship with KSJ Construction Sdn Bhd indicates a stable and continuing business relationship with this top supplier. In addition, supply of earthwork services can be sourced from other suppliers, if the need arises. Our Group is not dependent on any single supplier or contractor as our Group can source for alternative suppliers and contractors, if required. We have implemented internal control procedures for the selection of our suppliers and contractors to ensure they meet certain criteria in terms of pricing, track record, financial strength, quality, efficiency, reliability and capacity. 5.11 CAPITAL EXPENDITURE AND DIVESTITURES 5.11.1 Material capital expenditure and divestitures There are no material capital expenditures and divestitures (including interests in other corporations) undertaken by our Group for the FYE 31 December 2009 to 2012 and up to the LPD. 5. BUSINESS OVERVIEW (Cont’d) 5.11.2 Material plans to construct, expand or improve facilities As at the LPD, our Group has commenced the development of Sendayan clubhouse in line with our plans to develop Bandar Sri Sendayan into an integrated township with its own leisure facilities for the community. This project will be our first foray into development of leisure properties since we commenced our property development operations. The development of the clubhouse include various sports and recreational facilities, retail and dining outlets, fitness centre as well as a therapeutic treatment facility. Some of the sports and recreational facilities include, amongst others, Olympic size swimming pool, bowling alley, futsal court, badminton and indoor tennis courts, table tennis centre and games room. It will also offer different types of dining outlets including an indoor cafeteria, outdoor dining outlets as well as restaurants and a banquet hall. We intend to manage the clubhouse which will be operated by our sUbsidiary, 1 Sendayan Club. We commenced development o~ our clubhouse in September 2012 and expect to complete the development by March 2014 with a total GDV of RM50.0 million. The estimated total expenditure for the development of the clubhouse is approximately RM40.0 million. As disclosed in Section 3.7.1 of this Prospectus, we intend to utilise RM10.0 million from the IPO proceeds for the development of our clubhouse in Bandar Sri Sendayan, while the remaining estimated amount of RM30.0 million will be funded via internally generated funds and/or borrowings. As at the LPD, we have incurred development costs of approximately RM5.0 million for the clubhouse. Save as mentioned above, we have no immediate plans to construct, expand or improve on existing facilities. 5.12 QUALITY ASSURANCE PROCEDURE AND MANAGEMENT We place strong emphasis on quality control as well as adhere to stringent quality standards for our property development operations. This is reflected by the fact that Matrix Concepts, MCHB Management and Juwasan Maju are ISO 9001:2008 certified companies for project management, provision of construction and administrative management services in property development. Our ISO 9001 :2008 quality management system accreditations indicate that our Group adopts quality management practices that comply with ISO 9001 :2008 standards. This provides customers with the assurance of the quality of our Group’s developments. We have a team of dedicated and experienced contract, project and land coordinator managers, project and site engineers, site and maintenance supervisors as well as various supporting staff to closely monitor and manage the construction process to ensure that our quality standards are adhered to and maintained. In addition, we also have a panel of professionals and suppliers namely architects, engineering consultants, interior designers, building contractors and building material suppliers, most of whom have been dealing with us for more than five years. Our Group also requests feedback from our customers via surveys and questionnaires as part of our measurement against the performance of our quality management system. By analysing the wstomers’ feedback, we are able to take the necessary measures to improve our products and services, in line with our continuous strive to provide excellent customer service and meet customers’ need. 5. BUSINESS OVERVIEW (Cont’d) ._–_._-_.——-_._—————_._-­5.13 MODES OF MARKETING 5.13.1 Marketing strategies We adopt the following marketing strategies: (i) Position ourselves as an established property developer, with the capability to develop quality residential and commercial properties to meet market requirements;
(ii) Continually provide quality developments to establish our reputation as a preferred property developer;

(iii) Continually provide the appropriate mix of property development that appeal to the market; (iv) Keeping abreast of new and innovative concepts to stay ahead of the competition as well as better meet the needs and requirements of customers and changing market trends;
(v) To continually develop integrated townships with residential, commercial, industrial, leisure and institutional properties.

To implement our marketing strategy, we have our own sales and marketing team of 31 personnel as at LPD, focusing on marketing and promotions. In addition our Group also utilises the following marketing and promotional methods to create awareness with the aim of increasing sales: (i) Participate in various property fairs and exhibitions including the following: NAMES OF EVENTS Malaysia Property Expo (MAPEX) 2005 MAPEX 2006 MAPEX 2007 MAPEX 2008 LOCATION Seremban
Kuala Lumpur Seremban Kuala Lumpur Seremban Seremban NATURE OF PARTICIPATION
Exhibilor Exhibitor Exhibitor Exhibitor Exhibitor Exhibitor DATE 22 April 2005 until 24 April 2005 23 September 2005 until 25 September 2005 22 September 2005 until 25 September 2005 28 April 2006 until 30 April 2006 8 September 2006 until 10 September 2006 20 April 2007 until 22 April 2007 26 October 2007 until 28 October 2007 2 May 2008 until 4 May 2008 21 November 2008 until 23 November 2008 5. BUSINESS OVERVIEW (Cant’d) NAMES OF EVENTS LOCATION NATURE OF DATE PARTICIPATION MAPEX 2009 Invest in Malaysia Property Exhibition MAPEX 2009 Malaysia Property Exhibition MAPEX 2010 Reed Exhibition MAPEX 2011 MAPEX 2012 Seremban London, United Kingdom Kuala Lumpur
Chennai, India
Seremban Abu Dhabi, United Arab Emirates
Kuala Lumpur
Seremban Kuala Lumpur Seremban Kuala Lumpur Seremban Exhibitor Exhibitor Exhibitor Exhibitor Exhibitor Exhibitor Exhibitor Exhibitor Exhibitor Exhibitor Exhibitor Exhibitor 22 May 2009 unlil 24 May 2009 30 October 2009 untii 1 November 2009 20 October 2009 until 29 October 2009 20 November 2009 unlil 22 November 2009 22 January 2010 until 25 January 2010 23 May 201 0 until 25 May 2010 19 November 2010 until 21 November 201 0 15 January 2011 until 21 January 2011 19 March 2011 unlil21 March 2011 20 May 2011 until 22 May 2011 21 October 2011 until 23 October 2011 18 November 2011 until 20 November 2011 2 March 2012 until 4 March 2012 26 April until 28 April 2012 19 April until 21 April 2012 18 May 2012 until 20 May 2012 12 October 2012 until 14 October 2012 (ii) Advertise our newly launched properties in local newspapers, internet, media advertising, billboards, buntings and sponsorship. 5. BUSINESS OVERVIEW (Cont’d) 5.13.2 Distribution channel Distribution channel Our distribution channel slrategy is based on direct channels: ,—­Owner-Occupiers
-{,====….. ]Dire~”}1.-.–1~-:estors I Others] Direct Distribution Channel We adopt a direct distribution channel strategy through our own sales and marketing team to sell our properties and land to our customers. In addition to selling through our own sales and marketing team, we also use agents, appointed and on ad-hoc basis, for the sale of our industrial plots. We market directly to customers including corporate and individual owner-occupiers and investors as well as others such as government entities. For FYE 31 December 2011, we also sold a piece of undeveloped land to 1MDB, a government-owned corporation. 1MDB is also the project developer for the new academia and training centre for the Royal Malaysian Air Force. As at LPD, our appointed agents are listed as follows: Name of Agent CB Richard Ellis (M) Sdn Bhd Colliers Jordan Lee & Jaafar Sdn Bhd Focus Real Estate 5.14 SEASONALITY Location Kuala Lumpur Negeri Sembilan Kuala Lumpur Generally, our business is not subject to any material seasonaiity factors. 5.15 RESEARCH AND DEVELOPMENT As our principal activities are focused on sales of land and property development, we do not undertake any material research and development. As a result, we do not carry out any specific R&D activities and R&D policy is not relevant to our operations. 5.16 TECHNOLOGY USED As our business is focused on sales of land and property development, technologies are not directly relevant to our business. I Company No.: 414615-U I 5. BUSINESS OVERVIEW (Cont’d) 5.17 INTELLECTUAL PROPERTIES As at the LPD, our Group does not have any other licences, patents, trademarks, brand names, technical assistance agreements, franchises and other intellectual property rights, save as disclosed below: Trade mark Trade mark Issuing authority application no. Date of issuance Class Validity Description Intellectual 09008619 17 October 2012 Class 37 27 May Property Development Property 2009 to 27 and Building Corporation of May 2019 Construction; all Malaysia included in Class 37 MATRIX CONCEPTS GROUP 5.18 INTERRUPTIONS IN BUSINESS DURING THE PAST 12 MONTHS Our Group has not experienced any disruption in business which had a significant effect on our operations during the 12 months prior to the date of this Prospectus. I THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK I 136 I Company No.: 414615-U I 5. BUSINESS OVERVIEW (Cant’d) 5.19 APPROVALS, MAJOR LICENCES AND PERMITS The approvals, major licences and permits issued to our Group in order for us to carry out our operations other than those pertaining to general business registration as at the LPD are as follows: Company  Project  Juwasan  All contracts  Maju  undertaken  Juwasan  All contracts  Maju  undertaken
Description of licence/approval Registration as contractor with the Construction Industry Development Board under Grade G7 for categories of B (Building Construction) and CE (General Engineering Construction) Registration with Contractor Services Centre as contractor under categories Class A, 1(1 ,2,3a,5, 7a, 7b, 7 c,7d), 11(1 ,2a,2b,5,7a,7b ,8a,8b) and IV(1,2a,2b,2d,2e, 5,8) Date of issuance or Major Licence/ commencemenU conditions Status of Authority Reference no. expiry imposed compliance Construction Industry 0120010220­12.04.2012 ­Nil Not Development Board NS062369 11.04.2015 applicable Contractor Services 1405 A 2009 0485 24.07.2011 I Nil Not Centre (Pusat 23.07.2013 applicable Khidmat Kontraktor) Ministry of Works 137 I Company No.: 414615-U I 5. BUSINESS OVERVIEW (Cont’d) Date of issuance or  Major  Description of  Licence/  commencement!  conditions  Status of  Company  Project  licence/approval  Authority  Reference no.  expiry  imposed  compliance  Matrix  Taman Seri  Planning  Pejabat Tanah  PTDK 3/8/3/2010  (1)09.06.2010  Nil  Not  Impian 4 -Impiana  approval  Daerah Kluang  applicable  Casa 1  Building plan approval  Majlis Perbandaran Kluang  MPKJ599/3001 6/8/2010  2809.2010­(21 05.08.2011  Nil  Not applicable  Housing  MHLA  7164-18/12­ 22.122010 ­ Nil  Not  developer licence  2013/1447  21.12.2013  applicable  Advertising  MHLA  7164-18/27091  27122011­ Nil  Not  permit  2012(12)  (3126.12.2012  applicable  Matrix  Impiana Villa 2  Planning  PeJabat Tanah  PTDK(SKS) 13/99  (1 128.07.2005  Nil  Not  Impiana Avenue  approval  Daerah Kluang  applicable  3,4 and 5, and  Taman Seri  Impian 2(Zon 1  and Zon 2)  Matrix  Impiana Villa 3  Planning  Pejabat Tanah  PTDK(SKS) 13/99  (1124.07.2008  Nil  Not  approval  Daerah Kluang  Jld.2  applicable
138 I Company No.: 414615-U I

5. BUSINESS OVERVIEW (Cont’d) Date of issuance or  Major  Description of  Licencel  commencement!  conditions  Status of  Company  Project  Iicencelapproval  Authority  Reference no.  expiry  imposed  compliance  Matrix  Impiana Casa 2  Planning  Pejabat Tanah  PTDK 3/8/3/201 0  (1109.06.2010  Nil  Not  approval  Daerah Kluang  applicable  Building plan  Majlis Perbandaran  MPKl599/300/6/8/20 1  (113.1.2012  Nil  Not  approval  Kluang  1  applicable  Developer  MHLA  7164-21/04-2015/511  23.4.2012 ­ Nil  Not  License  22.4.2015  applicable  Advertisement  MHLA  7164­ (4130.4.2012 ­ Nil  Not  Permit  21/1019/2013(04)  29.4.2013  applicable  Matrix  Impiana Avenue 6  Planning  Pejabat Tanah  PTDK 3/8/3/2010  (1109.06.2010  Nil  Not  approval  Daerah Kluang  applicable  Matrix  Impiana Square  Planning  Pejabat Tanah  PTDK 3/8/24/2011  (1113.10.2011  Nil  Not  (Impiana Avenue  approval  Daerah Kluang  applicable  7)  Matrix  Third 9 Residence  Planning  Pejabat Daerah dan  PTS 354/177/10101  (1101.04.2011  Nil  Not  approval  Tanah Seremban  appiicable  Matrix  Lobak Commercial  Planning  Pejabat Daerah dan  PTS 528/114/10/40  (1116.12.2010  Nil  Not  Centre, Phase 1  approval  Tanah Seremban  applicable  Matrix  Lobak Commercial  Planning  Pejabat Daerah dan  PTS 528/114/10/40  (1116.12.2010  Nil  Not  Centre, Phase 2  approval  Tanah Seremban  applicable  Matrix  Impiana Casa 2  Planning  Pejabat Tanah  PTDK 3/8/3/2010  (1109.06.2010  Nil  Not  (Stage 2)  approval  Daerah Kluang  applicable  139
I Company No.: 414615-U I 5. BUSINESS OVERVIEW (Cont’d) Date of issuance or  Major  Description of  Licence/  commencement!  conditions  Status of  Company  Project  licence/approval  Authority  Reference no.  expiry  imposed  compliance  Matrix  Taman Desa PO 3  Planning  Pejabat Pengarah  PTG.NS 1/1/4/1165  11108.07.2011  Nil  Not  approval  Tanah dan Galian  applicable  Negeri Sembiian  Building plan  Majlis Perbandaran  MPPD  ( 1)20.10.2011  Nii  Not  approval  Port Dickson  431/154/2008/02  applicable  Housing  MHLA  7164-20/01-2015/24  06.01.2012 ­ Nil  Not  developer licence  05.01.2015  applicable  Advertising  MHLA  7164­ 18.01.2013­ Nil  Not  permit  20/1828/2014(01 )  17.01.2014  applicable  BSS  Nusari Aman 1B  Planning  Pejabat Daerah dan  PTS 354/108/07/02  11102.12.2007  Nii  Not  Development  approval  Tanah Seremban  applicable  Buiiding plan  Majlis Perbandaran  (i) MPN 431/1088/  (i) 11116.02.2011  Nii  Not  approval  Nilai  2009/2(55) (ii) MPN  (ii) 11110.08.2011  applicable  431/1088/2009/2  Housing  MHLA  10613-9/04-2014/458  13.04.2011­ Nil  Not  developer licence  12.04.2014  applicable  Advertising  MHLA  10613­ 13116.04.2012 ­ Nil  Not  permit  91827/2013(04)  14.04.2013  applicable
140
I Company No.: 414615-U  I  5.  BUSINESS OVERVIEW (Cont’d)  Company  Project  Description of licence/approval  Authority  Licence/ Reference no.  Date of issuance or commencement! expiry  Major conditions imposed  Status of compliance  BSS Development  Idaman Bayu 2  Planning approval  Pejabat Daerah dan Tanah Seremban  PTS 354/103/07/02  11102.12.2007  Nil  Not applicable  Building plan approval  Majlis Perbandaran Nilai  MPN 431/1305/ 2010/2(10)  11107.01.2011  Nil  Not applicable  Housing developer licence  MHLA  10613-17/10­2015/1325  0310.2012 ­02.10.2015  Nil  Not applicable  Advertising permit  MHLA  10613­17/2356/3013(10)  0410.2013 ­03.10.2013  Nil  Not applicable  BSS Development  Nusari Aman 2  Planning approval  PeJabat Daerah dan Tanah Seremban  PTS 354/108/07/02  11102.12.2007  Nil  Not applicable  Building plan approval  Majlis Perbandaran Nilai  MPN 431/1397/2011/2  (1110.08.2011  Nil  Not applicable  Housing developer licence  MHLA  10613-12/10­2014/1261(10)  21.10.2011 -20.10.2014  Nil  Not applicable  Advertising permit  MHLA  10613-12/2256/ 2012(02)  28.102011­13127.10.2012  Nil  Not applicable  BSS Development  Sendayan Metropark Shop 1A  Planning approval Building plan approval  Pejabat Daerah dan Tanah Seremban Majlis Perbandaran Nilai  PTS 354/108/07/02 MPN 431/1269/ 2010/2  (1102.12.2007 (1110.11.2010  Nil Nil  Not applicable Not applicable
141 I Company No.: 414615-U I 5. BUSINESS OVERVIEW (Cont’d) Date of issuance or  Major  Description of  Licence/  commencemenU  conditions  Status of  Company  Project  licence/approval  Authority  Reference no.  expiry  imposed  compliance  BSS Development  Sendayan Tech Valley 1  Planning approval  Pejabat Daerah dan Tanah Seremban  PTS 354/188/10/47 and PTS  11123.12.2010 and 11103.03.2011  Nil  Not applicable  528/119/11/47  Infrastructure plan approval  Majlls Perbandaran Nilai  MPN 431/31/2008/2­1(19) and MPN  1110905.2011 and 11117.072008  Nil  Not applicable  431/31/2008/2-1 (8)  BSS  Sendayan Tech  Planning  Pejabat Daerah dan  PTS 354/118/11/47  (1 110.05.2011  Nil  Not  Development  Valley 2  approval  Tanah Seremban  applicable  Infrastructure pian approval  Majlis Perbandaran Nilai  MPN 431/3/2011/2­1(8) and MPN  11117.02.2011 and 11106.11.2011  Nil  Not applicable  431/116/2011/2-1 (1 0)  BSS  Nusari Aman  Planning  Pejabat Daerah dan  PTS 528/220/11/47  (1110.062011  Nil  Not  Development  approval  Tanah Seremban  applicable  Building plan  Majlis Perbandaran  MPN  1112311.2011  Nil  Not  approval  Nilai  431/1439/2011/2(9),  applicable  MPN  431/1441/2011/2(11 )  and MPN  431/1438/2011/2(11 )  Housing  MHLA  10613-13/01-2015/69  13.01.2012 ­ Nil  Not  developer licence  12.012015  applicable  Advertising permit  MHLA  10613­13/147/2013(01)  16.01.2012 ­13115.01.2013  Nil  Not applicable
142 I Company No.: 414615-U I 5. BUSINESS OVERVIEW (Cont’d) Date of issuance or  Major  Description of  Licencel  commencement!  conditions  Status of  Company  Project  Iicencelapproval  Authority  Reference no.  expiry  imposed  compliance  BSS  Nusari Bayu 2B  Planning  Pejabat Pengarah  PTS 354/108/07/02  (1102.12.2007  Nil  Not  Development  approval  Tanah dan Galian  applicable  Negeri Sembilan  BUiiding pian  Majlis Perbandaran  MPN  (1 123 .11.2011  Nil  Not  approval  Nilai  431/1440/2011/2(12)  applicable  Housing  MHLA  10613-14/05­ 17.05.2012 ­ Nil  Not  Developer  2015/636  15.05.2015  applicable  Licence  Advertisement  MHLA  10613-14/1206/2013  21.05.2012 ­ Nil  Not  Permit  (05)  20.05.2013  applicable  BSS  1 Sendayan  Planning  Pejabat Daerah dan  PTS 528/308/11/47  (1109.11.2011  Nil  Not  Development  Clubhouse  approvai  Tanah Seremban  applicable  Building pian  Majlis Perbandaran  MPN  31.10.2012 ­ Nil  Not  approval  Nilai  43111556/2012/2  30.10.2015  applicable  BSS  Sub Centre @  Planning  Pejabat Daerah dan  PTS 354/108/07/02  (1102.12.2007  Nil  Not  Development  Nusari Bayu  approval  Tanah Seremban  applicable  BSS  Sub Centre @  Planning  Pejabat Daerah dan  PTS 354/108/07/02  (1102.12.2007  Nil  Not  Development  Nusari Hijayu  approval  Tanah Seremban  applicable
143 I Company No.: 414615-\J] 5. BUSINESS OVERVIEW (Cont’d) Date of issuance or  Major  Description of  Licence/  commencement/  conditions  Status of  Company  Project  licence/approval  Authority  Reference no.  expiry  imposed  compliance  BSS  Hijayu 1A and  Planning  Pejabat Daerah dan  PTG.NS 1/1/1/3493  (1 130.06.2011 and  Nil  Not  Development  Sendayan  approval  Tanah Seremban  and PTS  (112710.2011  applicable  Merchant Square 1  528/292/11/47  BSS Development  Hijayu 1B  Planning approval  Pejabat Daerah dan Tanah Seremban  PTG.NS 1/1/1/3493 and PTS  (1 130.06.2011 and (1127.10.2011  Nil  Not applicable  528/292/11/47  Building Plan  Majlis Perbandaran  MPN431/1530/2012/  (1115.06.2012 and  Nil  Not  Approval  Nitai  2  (1)07.08.2012  applicable  Housing  MHLA  10613-16/2015/1064  03.08.2012 ­ Nil  Not  Developing  02.08.2015  applicable  Licence  Advertisement  MHLA  10613­ 09.08.2012 ­ Nil  Not  Permit  16/1949/2013(08)  08.08.2013  applicable  BSS  Hijayu 2 and  Planning  Pejabat Daerah dan  PTS 528/308/11/47  (1 109.11.2011  Nil  Not  Development  Sendayan  approval  Tanah Seremban  applicable  Merchant Square 2  BSS  Hijayu 3D  Planning  Pejabat Daerah dan  PTS 354/137/11/47  (1 122.08.2011  Nil  Not  Development  approval  Tanah Seremban  applicable  Building Plan  Majlis Perbandaran  MPN431/1502/2012/  (1 124042012  Nil  Not  Approval  NiJai  2  (1105.102012: and  applicable  (1115.10.2012
144 I Company No.: 414615-U I 5. BUSINESS OVERVIEW (Cont’d) Company  Project  Description of licence/approval  Authority  Licence/ Reference no.  Date of issuance or commencement/ expiry  Major conditions imposed  Status of compliance  Housing Developer Licence  MHLA  10613-15/07­2015/910  11072012 ­10.07.2015  Nil  Not applicable  Advertising Permit  MHLA  10613­15/1778/2013(07)  24072012 ­23072013  Nil  Not applicable  BSS Development  Hijayu (Resort Homes)  Planning approval  Pejabat Daerah dan Tanah Seremban  PTS 528/308/11/47  (1109.11.2011  Nil  Not applicable  BSS Development  Hijayu (Resort Villa)  Planning approval  Pejabat Daerah dan Tanah Seremban  PTS 528/308/11/47  (1109.112011  Nil  Not applicable  BSS Development  Hijayu (Residence)  Planning approval  Pejabat Daerah dan Tanah Seremban  PTS 528/308/11/47  (1109.11.2011  Nil  Not applicable  BSS Development  Hijayu 3A  Planning approval  Pejabat Daerah dan Tanah Seremban  PTS 354/137/11/47  (1122.082011  Nil  Not applicable  BSS Development  Hijayu 3B  Planning approval  Pejabat Daerah dan Tanah Seremban  PTS 354/137/11/47  (1 122.08.2011  Nil  Not applicable  BSS Development  Hijayu 3C  Planning approval  Pejabat Daerah dan Tanah Seremban  PTS 354/137/11/47  (1 12208.2011  Nil  Not applicable  BSS Development  Idaman Yu 1  Planning approval  Pejabat Daerah dan Tanah Seremban  PTS 354/115/11/47  (1 127.04.2011  Nil  Not applicable  BSS Development  ldaman Yu 2  Planning approval  Pejabat Daerah dan Tanah Seremban  PTS 528/167/12/47  (1 117.042012  Nil  Not applicable
145 I Company No.: 414615-U I 5. BUSINESS OVERVIEW (Cont’d) Company  Project  Description of Iicencelapproval  Authority  Licencel Reference no.  Date of issuance or commencement! expiry  Major conditions imposed  Status of compliance  BSS Development  Sendayan Metropark Shop 2  Planning approval  Pejabat Daerah dan Tanah Seremban  PTS 528/219/11/47  (1)10.06.2011  Nil  Not applicable  BSS Development  Sub Centre @ Sendayan Tech Valley 1A  Planning approval  Pejabat Daerah dan Tanah Seremban  PTS 354/188/10/47 and PTS 528/119/11/47  (1)23.12.2010 and (1103.03.2011  Nil  Not appiicable  BSS Development  Sendayan Autocity  Planning approval  Pejabat Daerah dan Tanah Seremban  PTS528/142/12/47  (1)06.03.2011  Nil  Not applicable  Riverine Project Sdn Bhd  Kota Gadong Perdana  Planning approval  Pejabat Daerah dan Tanah Seremban  PTS 354/102/03/02  (1)04.07.2003  Nil  Not applicable  1 Sendayan Education  Matrix Primary and Secondary Private School  Approval of establishment of Primary and Secondary Private School  Kementerian Pelajaran Malaysia  KP.BPS.SPIPS700­2/2/137(4)  (1)13.08.2012  Nil  Not applicable  1 Sendayan Education  Matrix International School  Approval of establishment of International School  Kementerian Pelajaran Malaysia  KP.BPSSPIPS700­2/2/140(5)  (1)13.08.2012  Nil  Not applicable  Notes: (1) (2) (3) (4)  No expiry. The development of Taman Seri Impian 4 -Impiana Casa 1 commenced on 22 December 201 o. This advertising permit has not been renewed as all sales units under this advertising permit have been sold prior to the expiry of the advertising permit. An application for renewal has been submitted prior to LPD.
146 II5. BUSINESS OVERVIEW (Cont’d) 5.20 DEPENDENCY ON INDUSTRIAL, COMMERCIAL AND FINANCIAL CONTRACTS As at the LPD, save as disclosed below, there are no material agreemenls or contracts (including informal arrangements or understanding or understandings), which have been entered into by our Group and which our Group is highly dependent upon: (i) Shareholders cum Joint Venture Agreement dated 29 August 2005 between MBI and Matrix Concepts for the development of approximately 5,223 acres of land in Felda Labu Sendayan located at Mukim Labu, Daerah Seremban, Negeri Sembilan (presently known as Bandar Sri Sendayan) via the establishment of a special purpose company namely BSS Development as amended and modified via the First Supplemental Agreement, Second Supplemental Agreement and the Deed of Completion;
(ii) Joint Venture Agreement between Restu Pertlwi Sdn Bhd and Matrix dated 26 January 2011 for the assignment of all Restu Pertiwi Sdn Bhd’s rights title interest and liability arising from the Joint Venture Agreement between MBI and Restu Pertiwi Sdn Bhd dated 26 January 2011, for the development of the land measuring approximately 42 acres in Pekan Paroi Jaya, District of Seremban, Negeri SembiIan;

(iii) Joint Venture Agreement between KKTNJB and Matrix dated 14 May 2005, for the development of an area measuring 900 acres being part of PT 10772 and PT 10773, HS(D) 4066 and HS(D)4067, Mukim and District of Kluang, Johor and modified via the First Supplementary Agreement, Second Supplementary Agreement and the Variation Agreement; and (iv) Joint Venture Agreement between MAINS and Riverine Projects dated 23 October 2002 for the development of the following lands:­(a) Land measuring 70 acres in Gadong Jaya, Mukim Labu, District of Seremban, Negeri Sembilan; and
(b) Land measuring approximately 89.79 hectres in Gadong Jaya, Mukim Labu, District of Seremban, Negeri Sembilan.

The salient terms of the abovementioned agreements are as follows: 5.20.1 Shareholders cum Joint Venture Agreement dated 29 August 2005 between MBI and Matrix Concepts (i) Shareholders cum Joint Venture Agreement dated 29 August 2005 entered into between Menteri Besar, Negeri Sembilan (Incorporation) (“State Agency”) and Matrix Concepts Holdings Berhad (“Company”), where both parties co-operate to develop approximately 5,233 acres of land In Felda Labu Sendayan located at Mukim Labu, Daerah Seremban, Negeri Sembilan (“Development Land”) via the establishment of a special purpose company namely BSS Development Sdn Bhd (formerly known as Formasi Bestari Sdn Bhd) (“Principal Agreement”); as amended and modified via a First Supplemental Agreement dated 15 February 2006, Second Supplemental Agreement dated 3D October 2006 (The Shareholders cum Joint Venture Agreement, First and Second Supplemental Agreements shall be collectively referred to hereafter as the “Shareholders cum Joint Venture Agreement”) and a Deed of Completion dated 11 August 2011 (“Deed of Completion”). 5. BUSINESS OVERVIEW (Cont’d) (ii) Matrix Concepts agrees to pay MBI a sum of RM250 million and interests thereon at a rate which shall be the corresponding rate charged by the financier for MBI in respect of the loan of RM250 million obtained by MBI or any other party related to the State Government for the purchase of the Development Land (“Payment Sum”) not later than the 5’h anniversary date of the Loan Disbursement (being the disbursement by a financier to MBI for the purchase of the Development Land) or any other date to be mutually agreed upon by the Parties from a sinking fund established by Formasi Bestari Sdn Bhd (currently known as BSS Development Sdn Bhd (“BSS Development”) for the whole and exclusive purpose of payment of the Payment Sum (the “Sinking Fund”). The contribution to the Sinking Fund shall be made by BSS Development and/or Matrix Concepts jointly and severally. (iii) Matrix Concepts shall provide, execute, and deliver to MBI a guarantee and indemnity in the form and substance acceptable to MBI to amongst others, observe and comply or procure the observance and compliance of all obligations, covenants, and duties on the part of Matrix Concepts to be performed under the Shareholders cum Joint Venture Agreement. (iv) The parties agree that upon satisfying the Payment Sum Matrix Concepts shall have full rights over the Development Land including the rights to permit or cause to permit any assignment, transfer, charge, and mortgage, lien on or over the Development Land and that any of the guarantee documents executed pursuant to the Shareholders cum Joint Venture Agreement shall be discharged and be of no effect against the directors of Matrix Concepts and/or Matrix Concepts.
(v) The proportion of the issued and paid up share capital of BSS Development shall be (“Agreed Proportion”) :
(a) State Agency: 1 special rights redeemable preference share of RM1.00 (“Special Share”)
(b) Matrix Concepts: 1 million ordinary shares of RM1.00 each

 

(vi) This Agreement shall continue in full force and effect until terminated in respect of any party in accordance with the provisions of this Agreement or upon the occurrence of any of the following events:
(a) At any time by written consent of all the parties and BSS Development;
(b) An effective resolution is passed or a binding order is made for the winding-up of BSS Development; or
(c) The shares of BSS Development are listed on any of stock exchange.

 

S. BUSINESS OVERVIEW (Cont’d) –_.———­(vii) Any of the parties (“Non-defaulting parties”) shall be entitled to terminate the Shareholders cum Joint Venture Agreement on the occurrence of the following events of default (“Events of Default”) by giving 30 days’ written notice to the other party in default (“Defaulting Party”): (a) if the Defaulting Party commits or permits any breach of any of the obligations in the Shareholders cum Joint venture Agreement and on its part to be performed or observed and shall not have remedied such breach (if capable of remedy) within 30 days after written notice shall have been given to the Defaulting Party by any of the other Party requiring such remedy; or
(b) if an order shall be made or an effective resolution passed for the winding up of the Defaulting Party otherwise that in the course of reconstruction or amalgamation; or
(c) if the Defaulting Party shall be dissolved Or liquidated, as the case may be; or
(d) if a receiver shall be appointed of a substantial part of the Defaulting Party’s assets or if possession shall be taken of a substantial part of the Defaulting Party’s assets on behalf of any creditor or creditors; or
(e) if the Defaulting Party shall sell, transfer or otherwise dispose of its beneficial interest in any of its SSS Development Shares to any person otherwise than provided for in the Shareholders Cum Joint Venture Agreement; or
(f) if the shareholding of the Defaulting Party in a related corporation to which their respective shares of SSS Development have been transferred is reduced to less than 100% and the relevant shares are not transferred back to the transferor or to another related corporation of the transferor in which corporation or company the transferor shall have a minimum 100% shareholdings, and the third party or parties obtaining control are not acceptable to the others hereto.

(viii) Subject to the provisions of the Shareholders cum Joint Venture Agreement, SSS Development may by ordinary resolution, unless otherwise mutually agreed by the Shareholders, distribute as dividends to the Shareholders all funds which are lawfully available out of its net profits after taking into consideration amongst others available cash, working capital, capital expenditure requirement, distributable income and tax cover and statutory payments. (ix) MSI shall not transfer or cause to be transferred the Development Land or any part or parts thereof to the Developer. Instead the Development Land shall remain vested and/or registered under the name of MSI, MSI shall transfer or cause to be transferred the Development Land or any part or parts thereof to SSS Development or to the end purchaser so nominated by SSS Development upon the full and final settlement of the Payment Sum together with interest charges and other costs save for such area of the Development Land equating to 100 acres which shall be retained by MSI. 5. BUSINESS OVERVIEW (Cont’d) (x) Pursuant to the Deed of Completion, the parties have agreed and confirmed that: (a) Matrix Concepts has fully paid the sum of RM250 million together with interest in the manner as set out in the Shareholders cum Joint Venture Agreement. The parties agree and confirm that there are no other monies due to MBI from Matrix Concepts;
(b) MBI is entitled to an area of approximately 100 acres from the Development t.and being the return on the investment of MBI under the Shareholders cum Joint Venture Agreement (the “said lands”). The parties agree and confirm that the said lands shall comprise of the following three parcels namely PT Nos. 4948, 5585 and 1053.
(c) MBI agrees and confirms that in the event MBI decides to sell or develop on a joint venture basis the said lands or any part thereof, the first right of refusal must be given to Matrix Concepts and/or their nominees.
(d) MBI shall also give Matrix Concepts and/or their nominees a Power of Attorney with the usual terms and conditions empowering Matrix Concepts, amongst others, to sell, transfer, charge, or lease the said lands or any part thereof in the event MBI develops the said lands on a joint venture basis with Matrix Concepts and/or their nominees.
(e) that Clause 3B of the Shareholders Cum Joint Venture Agreement is no longer applicable. However, the Special Share in BSS Development Sdn Bhd (“BSS”) registered as Share Certificate No: GS 001 shall continue to be held by MBI with the following functions:
(1) to receive notice of all general meetings or any other meeting;
(2) to advise on the future development of the Development t.and save for the said lands;
(3) to represent BSS Development in any ceremony and/or function;
(4) to liaise with the Town and/or Municipal Council and/or any other relevant authorities to assist in the approval of layout and/or building plans; and
(5) to assist in monitoring the progress of development on the Development t.and save for the said lands;

 

(I) that Matrix Concepts has full rights over the Development t.and, save for the said lands, including the right to permit or cause to permit any assignment, transfer, charge, lease or lien on or over the Development t.and save for the said lands.

5. BUSINESS OVERVIEW (Cont’d) (g) that MBI agrees to channel and/or transmit to BSS Development all balance payments from past sales and all proceeds of sale from present and future agreements entered into between MBI and purchasers in relation to the Development Land save for the said lands in paragraph (x)(b) above and to also permit BSS Development to receive monies directly from any purchaser and/or any third party and to give good receipts in respect of the monies so received in respect of the Development Land save for the said lands.
(h) Matrix Concepts agrees and undertakes to fully indemnify MBI against all losses, damages, liability, suits, litigation, costs, expenses, etc initiated or taken by any purchaser or any third party against MBI in relation to any matters related to the Development Land save for the said lands.

5.20.2 Joint Venture Agreement between Restu Pertiwi Sdn Bhd and Matrix dated 26 January 2011 (i) Joint Venture Agreement between Restu Pertiwi Sdn Bhd and Matrix dated 26 January 2011 for the assignment of amongst others all Restu Pertiwi Sdn Bhd’s rights title interest and liability arising from the Joint Venture Agreement between MBI and Restu Pertiwi Sdn Bhd dated 26 January 2011 (“Third 9 Residence JVA”) for the development of the land measuring approximately 42 acres in Pekan Paroi Jaya, District of Seremban, Negeri Sembilan (“Assignment”);
(ii) The Parties hereby agree that the Assignor’s Benefit (defined hereunder) shall be RM300,000. Matrix (“Assignee”) shall pay Restu Pertiwi Sdn Bhd (“Assignor”) within 30 days from the date of completion of the whole Project.

(iii) In consideration of the Assignee agreeing to be fully bound by the Third 9 Residence JVA as if the Assignee were a party thereto in place of the Assignor and in consideration of the benefit to be given by the Assignee to the Assignor in the amount, manner and at the times provided hereinafter (“Assignor’s Benefit”) AND except as stated to the contrary in the Assignment, the Assignor, as beneficial owner, hereby assigns unto the Assignee absolutely, amongst others, all rights title interest benefits and liability in and under the said Third 9 Residence JVA, and all the estate right title interests benefits claims and demand whatsoever of the Assignor of in or pursuant to amongst others the said Third 9 Residence JVA subject nevertheless to the obligations and liabilities on the part of the Assignor contained in the said Third 9 Residence JVA and to comply with the Housing Developer (Control and Licensing) Act 1966 and Housing Developer (Control and Licensing) Regulations 1989, in particular, Regulations 5, 10, 11, and 12. (Iv) The parties agree and confirm that subject only to express terms, conditions and modifications, if any contained in the Assignment, the Assignee (Matrix) shall assume all and sundry the obligations and liabilities and shall be entitled to ALL whatsoever rights, title, interests and benefits imposed upon or vested in the Assignor by under or pursuant to amongst others the Third 9 Residence JVA as fully and effectively as if the Assignee had been the party to amongst others the Third 9 Residence JVA in place of the Assignor. I I5. BUSINESS OVERVIEW (Cont’d) (v) Assignor expressly agrees and confirms that from henceforth the Assignor shall have no right title or interest or anything whatsoever in and arising out of amongst others the Third 9 Residence JVA and the Assignor hereby expressly acknowledge that from the date of this Deed of Assignment, the Assignee shall be absolutely entitled to the legal and equitable title and interest over amongst others the said Third 9 Residence JVA provided always that the Assignor’s rights to recover the Assignor’s Benefit from the Assignee in the event of any breach by the Assignee of the terms of this Assignment shall not be prejudiced by this Clause.
(vi) Assignor shall at all times hereafter save harmless and keep the Assignee indemnified against all actions, proceedings, claims, demands, penalties, costs and expenses which may be brought or made against or incurred by the Assignee, by reason or on account of the non-observance of all or any of the stipulations on the part of the Assignor contained in the said Third 9 Residence JVA or otherwise howsoever up to the date of this Assignment.

5.20.3 Joint Venture Agreement between KKTNJB and Matrix dated 14 May 2005 (i) Joint Venture Agreement between KKTNJB (“Landowner”) and Matrix dated 14 May 2005, for the development of an area measuring 900 acres (“Development Land”) being part of PT 10772 and PT 10773, HS(D) 4066 and HS(D)4067, Mukim and District of Kluang, Johor as amended and modified via a First Supplementary Agreement dated 5 April 2006, Second Supplementary Agreement dated 29 July 2008 and the Variation Agreement dated 10 November 2011 (collectively known as the “TSI JVA”).
(ii) In consideration of the Matrix having agreed to erect, construct and complete the Project in accordance with the terms and conditions herein agreed and at its own costs and expenses, the parties agreed that the Landowner shall be entitled to a total consideration of lump sum RM108,000,000 (“Joint Venture Consideration”) to be paid in accordance with the manner as set out in the TSI JVA.

(iii) Matrix agrees covenants and undertakes amongst others with the Landowner that it shall: ­(a) proceed with commencement of construction of the project within 9 months from the date of the TSI JVA and to complete not less than 90% of the project within 180 months from the date of commencement subject always to the prevailing market conditions;
(b) at its own costs and expenses obtain and procure or cause to be obtained and procured the Requisite Consents and the approvals and consents necessary for the commencement, construction and completion of the project;
(c) indemnify and keep indemnified the Landowner, against any liabilities, damage, loss, claims, action proceedings, costs and expense whatsoever in respect of the following (save and except where the same is due to wilful default, negligence, omission or conduct blameworthy of the Landowner):

 

5. BUSINESS OVERVIEW (Cont’d) (1) arising from or due to any negligence, omission, default of Matrix, or any of its agents, servants, or sub-contractors in respect of the development, construction and completion of the project; and
(2) arising from or due to the exercise of Matrix or any of its agents, servants, or sub-contractors of the power of attorney granted by the Landowner.

(iv) Matrix undertakes to :
(a) build 320 units of single-storey bungalows measuring approximately 5,400 square feet each in land area (the “Bungalows”) to accommodate the housing needs of the Landowner’s members and to be completed within thirty-six (36) months from the approval of the Building Plan or forty-two (42) months from the date of this Agreement, whichever is earlier;
(b) the selling price for each Bungalow shall be at a discounted price of RM180,000 per unit and a further discount of RM5,000 per unit agreed by the Matrix that makes up the net selling price at RM175,000 per unit with a built-up area of approximately 2,000 square feet each (inclusive of car porch) and the design to be agreed between Landowner and Matrix;
(c) the completion date for the said bungalows shall now be within 24 months from the date of approval of the Building Plan;
(d) indemnify and keep indemnified the Landowner, its directors and members against any liabilities, damage, loss, claims, action proceedings, costs and expense whatsoever arising as a result of Matrix charging the Development Land to a financier.

 

(v) The Landowner represents and warrants and undertakes amongst others:
(a) That the Landowner will at all times save harmless and keep indemnified Matrix against all actions, proceedings, damages, penalties, costs, claims and demands by reason or account of non­payment, non-performance and/or non-observance by the Landowner and/or all those through whom the Landowner derives title of all and every stipulation, agreement, proviso and condition respectively as are mentioned or contained in the Power of Attorney and to be performed or observed prior to the date of the TSI JVA by the Landowner and/or all those through whom the Landowner derives title;
(b) The Landowner will at all times save harmless and keep indemnified Matrix, its respective successors in titles and assigns all actions, proceedings, damages, penalties, costs, claims and demands, by reason of or on account of any breach or misrepresentation or non­fulfillment of the declarations, representations, warranties and covenants set forth in the TSI JVA or any of them and Matrix may at their option in the event of such breach, misrepresentation, or non­fulfilment, by notice in writing to the Landowner, treat the TSi JVA as rescinded on the date of receipt by the Landowner of the aforesaid notice;

 

153 -_._.—- —_.._—-_.­
5. BUSINESS OVERVIEW (Cont’d) (c) The LandDwner allDws Matrix as the lawful attDrney Df the LandDwner tD sell the said Properties SUBJECT ALWAYS tD the terms Df the PDwer Df AttDrney and that Matrix shall as the lawful attDrney Df the LandDwner sign and execute the Sale and Purchase Agreement. MemDrandum Df Transfer, and all Dther dDcuments in relatiDn theretD;
(d) The LandDwner shall nDt Dr purpDrt, withDut the priDr written CDnsent Df Matrix tD carry Dn further business transactiDns, dealings, negDtiatiDns, cDntracts Dr business Df whatsDever nature in relatiDn tD the DevelDpment Land save and except fDr in accDrdance with the terms Df the TSI JVA;
(e) The LandDwner shall at its Dwn cDsts and expense immediately take all such steps as may be necessary including legal proceedings tD remDve, evict Dr cause tD be remDved and evicted frDm the DevelDpment Land each and every squatter at any time and from time tD time in DccupatiDn and pDssessiDn Df the DevelDpment Land;
(f) The LandDwner shall abide by all provisiDns Df the HDusing DevelDpment (CDntrol and Licensing) RegulatiDns 1989 and all regulatiDns made thereunder and in particular regulatiDns 5,10,11 Df the HDusing DevelDpment (CDntrol and Licensing) regulatiDns 1989 whereby the LandDwner agrees tD sale Df the Properties erected Dn the DevelDpment Land tD the purchasers by Matrix and shall be a party tD the Sale and Purchase Agreement between Matrix and the purchasers Df the Properties.

(vi) The fDllDwing events shall be an event Df default by the LandDwner : (a) If the LandDwner fails tD cDmply with, Dbserve and perfDrm any Df the cDnditiDns, DbligatiDns and stipulatiDns Dn part Df the LandDwner tD be cDmplied with, Dbserved and perfDrmed cDntained in this TSI JVA; Dr
(b) If the LandDwner cDmmits any breach Df Dr Dmits tD Dbserve any Df the terms, cDnditiDns, DbligatiDns and stipulatiDns Df this TSI JVA; Dr
(c) If any representatiDn Dr warranty made Dr deemed tD be made by the LandDwner in Dr pursuant tD this TSI JVA Dr in any nDtice, certificate, instrument Dr statement cDntemplated in this TSI JVA (save and except disciDsed befDre the executiDn Df this TSI JVA in writing) is incDrrect in any respect whatsDever; Dr
(d) If the LandDwner shall suspend Dr give nDtice tD any perSDn Df its intentiDn tD suspend its business and DperatiDns Dr ceases Dr threatens tD cease tD carry Dn its business.

(vii) UpDn the abDve default events happening, Matrix shall be entitled by nDtice in writing tD terminate this TSI JVA and demand from the LandDwner tD pay and the LandDwner shall nD later than 14 days from the date Df the demand pay tD Matrix the fDIIDwing:­(a) All advances and all Dther payments made tD the LandDwner Dr any Dther party at the request Df the LandDwner; 5. BUSINESS OVERVIEW (Cont’d) (b) The fair commercial value and costs of the structures, buildings and work on the Development commenced and completed by Matrix as at the date of default as determined and valued by an independent valuer jointly appointed by the parties and the parties agree that the valuations and findings of the valuer shall be binding and conclusive on the parties of this TSI JVA and the appointment shall be made within 1 month from the date of the default;
(c) Payments to relevant consultants and contractors paid by Matrix as at the date of default;
(d) Administrative costs paid by Matrix as at the date of the default;
(e) All other costs incurred by Matrix in relation to the Development as at the date of the default;
(I) The Landowner shall also indemnify and keep indemnified Matrix against all claims made by the individual purchasers who have signed the sale and purchase agreement with Matrix as at the date of the default.

(viii) It shall be an event of default by Matrix if Matrix fails to comply with, observe and perform any of the conditions, obligations and stipulations on the part of Matrix to be complied with, observe performed contained in this TSI JVA and upon happening of the default by Matrix, the Landowner shall be entitled by notice in writing served on Matrix to terminate this TSI JVA. (ix) Matrix shall indemnify and keep indemnified the Landowner against any liabilities, damage, loss, claim, actions, proceedings, cost and expenses whatsoever (save and except where the same is due to any willful default, negligence, omission or conduct blameworthy of the Landowner) arising out of default by Matrix. All costs and expenses incurred shall be borne solely by Matrix. 5.20.4 Joint Venture Agreement between MAINS and Riverine Projects dated 23 October 2002 (i) Joint Venture Agreement between MAINS and Riverine Projects dated 23 October 2002 for the development of the following lands:­
(a) Land measuring 70 acres in Gadong Jaya, Mukim Labu, District of Seremban, Negeri Sembilan; and
(b) Land measuring approximately 89.79 hectres in Gadong Jaya, Mukim Labu, District of Seremban, Negeri Sembilan.

 

(ii) MAINS shall be entitled to the payment consideration of RM8,500,000 only which shall be paid in accordance with the manner as set out in the Agreement.

(iii) In the event Riverine Projects fails to reach a settlement with the Orang Asli of Kampung Pelebar and this Agreement is hereto terminated by Riverine Projects on that ground, MAINS shall forfeit a sum of RM300,000 which was paid upon signing this Agreement and Riverine Projects shall have no claim whatsoever against MAINS.
5. BUSINESS OVERVIEW (Cont’d) —————-~_._-_.——-­(iv) This Agreement shall be subject to the following conditions, amongst others,
(a) the said Land shall be approved for alienation to the Landowner by the issuance of Form 5A from the relevant land authority and the original is duly sighted by Riverine Projects;
(b) the said Land shall be free from any encumbrances or rights;
(c) Riverine Projects shall have obtained the approval from the appropriate authorities on all the plans submitted by Riverine Projects for the development of the Project within a reasonable time;
(d) that the Landowner shall execute the Power of Attorney in favour of Riverine Projects thereby empowering and allowing Riverine Projects. to carry out all acts necessary to complete the development of the Project inclusive of signing all applications to secure approvals for the development, to execute the Sale and Purchase Agreement of the units and the transfer, thereafter to the relevant purchasers of the units, to execute a charge or other security over the Land and the units as the case may be;
(e) the approval of the Economic Planning Unit (if required);
(I) the physical eviction and relocation of all squatters and/or occupiers currently on the Land (if any);
(g) the rescission and termination of any whatsoever previous agreement(s) and/or contract(s) which are subsisting between the Landowner and other parties in respect of the said Lands (if any). Documents pertaining to the progress of such rescission and/or termination, if any, shall be made known to Riverine Projects’s Managers upon the execution of this Agreement or from time to time pursuant to the terms of this Agreement;
(h) that any existing claim or interest in relation to or affecting the said Land shall have been or will first be resolved solely by MAINS;
(i) Riverine Projects undertakes to be wholly responsible in the settlement with Orang Asli of Kampung Pelebar.

 

(v) In the event anyone or more of the conditions precedent shall not have been fulfilled or satisfied within 12 months from the date of this Agreement, then in such event this Agreement shall at the sole option of Riverine Projects lapse and be of no further force and effect and neither party hereto shall have any claims(s) of whatsoever nature for any contribution, compensation, damages or indemnity whatsoever in respect of any act done prior to the lapsing of this Agreement as aforesaid.
(vi) Unless otherwise sooner terminated in accordance with the provisions of this Agreement, the obligations of the parties under this Agreement shall continue until the occurrence of the following:­
(a) the Practical Completion of the Development;
(b) the issue of the Certificate of Fitness of all units;

 

156 5. BUSINESS OVERVIEW (Cont’d) (c) the issue of separate documents of title to the units and the transfer of the same to purchasers of the units; and
(d) the sale of all the units.

(vii) Riverine Projects undertakes to complete the development of the Project within six (6) years from the first Sale and Advertising Permit being obtained by them from the appropriate authorities but subject to extension of time to be mutually agreed by both parties. (viii) The parties agree, amongst others, that notwithstanding this Agreement is subject to conditions precedent, there shall be a valid and subsisting Agreement in existence pending the satisfaction of all the said conditions and MAINS agrees that Riverine Projects has by virtue of this Agreement acquired an interest in the Land, whether beneficial, equitable or otherwise, so as to allow Riverine Projects to lodge a private caveat on the title to the said Land against any dealing with the property until such title as Riverine Projects deems necessary but without affecting the completion of the project registration/completion of the sale and subsequent transfer in favour of end purchasers of the units. In amplification of this clause, Riverine Projects shall simultaneously upon the execution of the Private Caveat execute a withdrawal of Private Caveat in escrow and deposit the same with a solicitor appointed as stakeholder who shall and are hereby authorized by the parties hereto to withdraw the private caveat in the event that this Agreement is mutually terminated provided only the reasons for terminations are not attributed to any default by the Landowner. (ix) Upon the Agreement becoming unconditional, MAINS covenants and undertakes with Riverine Projects amongst others the following:­(a) upon request by Riverine Projects, to sign all applications, plans and other documents as may be necessary to be signed by MAINS to secure the approval of the appropriate authorities to carry out and complete the Development and the project;
(b) to join with Riverine Projects as a party to any agreement for the sale of the Units (upon such terms and conditions as Riverine Projects and the Landowner shall deem fit) and the transfer thereafter of the Units to the relevant purchasers PROVIDED ALWAYS that the costs and expense of such sale and transfer shall be borne and paid by Riverine Projects;
(c) allow Riverine Projects to surrender the land title to the said Land to enable it to make the necessary application for the approvals and to the relevant authorities upon the approval of the application for the complete change in the category of land use and the subdivision of the Land into building lots or for the surrender and re-alienation of the same as aforesaid for the exchange of separate individual documents of title for each of the Units;
(d) assist Riverine Projects in the eviction of the squatters and or occupiers if any and to deliver vacant possession of the Land to Riverine Projects on the execution of this Agreement; and

5. BUSINESS OVERVIEW (Cont’d) (e) that it shall not without Riverine Projects’ prior written consent create or permit to be created any charge (whether legal or equitable) or other encumbrance or security interest whatsoever over, in and to the Land and the Units or its rights, title and interest or sell, transfer or otherwise deal with the Land or the Units and the aforesaid rights, title and interest. (x) The Developer covenants and undertakes, amongst others, the following:
(a) The Developer shall at its own costs and expense use its best endeavours to apply for and obtain all necessary approvals for the complete conversion of the Land into the proper category of land use for the project including the subdivision of the Land to enable the execution of the project;
(b) It shall comply strictly with the conditions imposed by all appropriate authorities and shall indemnify and keep indemnified MAINS against all fines, penalties, loss and expense imposed or incurred by reason of any breach of any non-performance of the conditions set out in Clause 9.1(a) to (d) of the Agreement;
(c) It shall not suffer, permit, cause any trespass or nuisance to be committed to MAINS’ adjoining lands by Riverine Projects’ servants, agents, contractors or sub-contractors or any vehicle belonging to Riverine Projects, its servants, agents, contractors or sub-contractors and shall indemnify and keep MAINS indemnified against all claims, damages, compensation, costs, expenses and other incidental expenses of whatsoever nature arising out of any breach of this sub­clause.

 

(xi) If:
(a) either party is in breach of or fails to observe or perform any of its covenants and obligations hereunder and has failed to remedy such breach or failure within a reasonable time not exceeding 30 days after the receipt of notice by the other party to that effect;
(b) any representation or warranty made or deemed to be made by either party in or pursuant to this Agreement is incorrect in any material respect; or
(c) a petition is presented (unless otherwise disputed in good faith), an order is made, an effective resolution passed or legislation enacted for the winding up (other than voluntary winding up for the purpose of reconstruction or amalgamation) of either party or if a receiver and/or manager is appointed of the undertaking or part thereof of either party; or
(d) if distress or execution or other process of a court of competent jurisdiction be levied upon or issued against property of either party and such distress, execution or other process as the case may be is not satisfied or challenged bona fide by such party within 7 days from the date hereof; or

 

5. BUSINESS OVERVIEW (Cont’d) (e) at any time before the practical completion of the Development, the whole of the development is suspended by order of any of the appropriate authorities for a continuous period of 60 days;. then MAINS or Riverine Projects, whoever shall be the aggrieved party, shall be at liberty by notice in writing served on the other party hereto to terminate this Agreement and thereupon this Agreement shall, subject to the provisions of this Agreement and any pre-existing liability of either party hereto, determine. 5.21 REGULATORY REQUIREMENT AND ENVIRONMENTAL ISSUE As at the LPD, our Group has not experienced any regulatory requirement and environmental issue which may materially affect our Group’s operations and utilisation of assets. THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK 7. INFORMATION ON OUR GROUP 7.1 HISTORY AND BUSINESS Our Company was established as Brilliant Radical Sdn Bhd in Malaysia on 24 December 1996, as a private limited company under the Act. Subsequently on 13 January 2003, we changed our name to Matrix Concepts Holdings Sdn Bhd. On 22 November 2004, we were converted into a public limited company and assumed our present name. Our principal business is in the sales of land and property development. Our sales of land include large tracts of undeveloped land. Our property development currently includes residential, commercial, industrial and leisure properties. Our Group structure as at the LPD is set out below:
Our Group was founded by our Group Managing Director I Chief Executive Officer, Dato’ Lee Tian Hock who brings with him approximately 30 years of experience in the property development industry. He has been instrumental in the success, growth and development of our Group since we commenced operations. He is supported by Mr Ho Kong Soon, our Group Deputy Managing Director I Chief Operating Officer who brings with him more than 20 years of experience in the property development industry. The history of our Group can be traced back to 1997 when our subsidiary Matrix, commenced operations as a property development company. Our maiden property development project was in Taman Bahau, Negeri Sembilan, a mixed residential and commercial development comprising 581 units of terrace houses and 14 units of shop offices. This was a joint-venture project between Matrix and the landowner, Beg Development Sdn Bhd on a land with an area of approximately 50 acres. The total GDV for this project was approximately RM34.9 million. We completed this property development in 1999 with all units sold. In 1998, our other property development arm, Masuda Corporation acquired 21 acres of land in Kuala Pilah, Negeri Sembilan to develop a mixed residential and commercial property which commenced in 1999. This development was completed in 2000 with 98% of units sold. In 1999, through Masuda Corporation, we embarked on a joint-venture arrangement with MBI to develop a land area of approximately 39 acres. This was for the Taman Andalas (Phase 1 and 2) project. Phase 1 of Taman Andalas was a mixed residential and commercial development comprising 369 units of terrace houses, 4 units of single-storey semi-detached houses and 8 units of single-storey shop offices. We launched Phase 1 of Taman Andalas in the same year with 90% of units sold within 6 months and thereafter all units were sold. Phase 1 of Taman Andalas was completed in 2000. During the same year in 1999, we acquired 100% stake in 1 Sendayan Club, a property development company and 50% stake in Kris Benua, a plantation company. Kris Benua became a wholly-owned subsidiary in 2004. In 2006, Kris Benua disposed of its plantation land to focus on property development. Kris Benua had since been inactive until 2008 when it changed its business activity to project management which mainly involves project sales administrative work, such as assisting customers to liaise with lawyers and banks to facilitate the sale and to obtain bank loans. 212
7. INFORMATION ON OUR GROUP (Cont’d) In 2000, we acquired a 70% stake of Insani Utama, a property development company that has entered into a joint-venture arrangement with Yayasan Negeri Sembilan to develop Taman Gadong Jaya, a mixed residential and commercial development in Seremban. We commenced on the development of Phase 1 and 2 in 2001 of Taman Gadong Jaya and this was followed by Phase 3 and 4 in 2002 and 2003 respectively. The last phase of the development was completed in 2003 with 99% of units sold. Insani Utama became a wholly owned subsidiary in 2002. Since then, we have completed various property development projects In Negerl SembiIan between 2000 and 2002. These included the following: Taman Sri Telawi, a residential development in Seremban, and Taman Pedas Indah, a mixed residential and commercial development in Pedas. Both developments were undertaken by Matrix in 2000 and completed in 2000 with all units sold. Taman Pedas Indah was the result of a joint-venture arrangement between Matrix and the landowner, Omega Touch Sdn Bhd. Phase 1 of Taman Intan Perdana 1, 2 and 3 in Port Dickson, a mixed residential and commercial development under our subsidiaries, 1 Sendayan Club and Masuda Corporation which commenced in 2000 and completed in 2001 with all units sold. Phase 2 of Taman Andalas in Mantin, which was the result of a joint-venture between Masuda Corporation and MBI for the development of low cost flats. This development commenced in 2000 and completed in 2001 with all units sold. Intan Court in Port Dickson, a residential development of low cost flats under our subsidiary, 1 Sendayan Club. This development commenced in 2000 and completed in 2002 with all units sold. Taman Sri Anggerik in Rantau, a residential development under Matrix commenced in 2001 and completed in 2002 with all units sold. In 2002, through our property development subsidiary, Riverine Projects, we entered into a joint-venture agreement with Majlls Agama Islam Negeri SembiIan for the development of Kota Gadong Perdana on 295 acres of land which forms part of our future residential property project which we expect to commence development by early 2016. As the location of the development is next to Bandar Sri Sendayan, our Group had included the project in its larger plan for the development of Bandar Sri Sendayan. In the same year in 2002, Matrix acquired 109 acres of land in Port Dickson with the intention to develop Taman Politeknik, a mixed residential and commercial development. During the same year in 2002, we acquired a 100% stake in 1 Sendayan Education, a dormant company to undertake property development and a 100% stake in MCHB Natro’, a property development company. MCHB Natro’ changed its business activity to landscape management in 2007. Between 2002 and 2004, some of the other property development projects that we embarked on included the following: Taman Intan Perdana V(a) and (b), and Taman Bukit Perdana in Port Dickson, primarily residential developments under 1 Sendayan Club commenced in 2002 and completed in 2003 with all units sold. Taman Sendayan Indah in Seremban, which was the result of a joint-venture between Insani Utama and MBI for a mixed residential and commercial development which commenced in 2002 and completed in 2003 with all units sold. Arowana Impian in Seremban 2, a mixed residential and commercial development under Masuda Corporation commenced in 2003 and completed in 2004 with all units sold. 213 I
7. INFORMATION ON OUR GROUP (Cont’d) Matahari Height in Bandar Senawang, and Taman Politeknik in Port Dickson, both projects were mixed residential and commercial developments under Matrix. Both projects commenced in 2003 and completed in 2004 with all units soid. In 2003, Matrix acquired approximately 110 acres of land with the intention to deveiop Taman Desa PD in Port Dickson, Negeri Sembilan. As part of our Group’s expansion to other states, we acquired 100% stake of Seventech, a property development company in 2004. Through Seventech, which had a joint-venture arrangement with South East Johore Development Authority under the Ministry of Rurai Development, we developed our first project in Johor namely Taman Anggerik Tenggara in Bandar Tenggara on a land measuring approximately 200 acres. We commenced the development of Phase 1 in 2004. The development, which included Phase 1 and 2 were completed in 2009 with all units sold. During the same year in 2004, Masuda Corporation acquired 55 acres of land in Seremban with the intention to develop Taman Pulai Impian, a residential development. Some of the other developments that we embarked on during 2004 included Taman Bukit Perdana II in Port Dickson, a residential development and Taman Permai Impian in Seremban, a mixed development undertaken by subsidiaries, 1 Sendayan Club and Superb Approach respectively. Taman Permai Impian was the resuit of a joint-venture arrangement with Yayasan Negeri Sembilan. Both developments commenced in July 2004 and were completed in 2004 and 2005 respectively with all units sold. In 2005, Matrix entered into a joint-venture with KKTNJB to develop our first flagship township development in Taman Seri Impian in Kluang, Johor. In the same year in 2005, BSS Development entered into a joint-venture with MBI to deveiop our second flagship integrated deveiopment project in Bandar Sri Sendayan in Seremban. During the same year in 2005, our subsidiaries, Matrix and MCHB Management were accredited with ISO 9001 :2000 status for provision of project management and administrative management services in property development by BM TRADA Certification Ltd, a certification body accredited by United Kingdom Accreditation Service. In 2006, we launched the first two phases of the Taman Seri Impian township development, namely the launching of Taman Seri Impian 1 and Impiana Avenue 1 which comprised 487 units of terrace houses and 33 units of shop offices respectively. The developments were completed in 2008 and 2009 respectively. This was followed by the commencement of Taman Seri Impian 2 -Parcell and 2 in 2007, which were completed in 2009 and 2010 respectively. In 2009, we commenced on the development ofTaman Seri Impian 3 which was undertaken in different phases, as well as Impiana Avenue 2 and Impiana Villa 1 in 2010, all of which were completed in 2011 and 2012. In 2010, Matrix also began development of Taman Seri Impian 4 -Impiana Casa 1. The completed development of the phases until 2012 comprised 2,498 units of terrace houses and bungalows as well as 69 units of shop offices which 99.9% were sold. As at LPD, the township has an estimated total GDV of approximately RM490.0 million, including completed and on-going projects. Between 2005 and 2006, some of the other developments that we have undertaken in Negeri SembiIan were: Taman Pulai Impian, our first gated and guarded residential development in Seremban developed by Masuda Corporation in 2005 and completed in 2006; Taman Desa PD 1 in Port Dickson, a mixed development developed by Matrix in 2005 and completed in 2006; Matrix Point, a small commercial development in Seremban developed by Superb Approach in 2006 and completed in 2007; Taman Bukit Sendayan in Seremban, a residential development developed by Masuda Corporation in 2006 and completed in 2008; and 214
7. INFORMATION ON OUR GROUP (Cont’d) Arowana lndah, a residential and commercial development developed by Masuda Corporation in 2006 and completed In 2007. Between 2007 and 2008, some of the other developments that we have undertaken in Negerl Sembilan were: Matahari Indah, a residential development developed by Masuda Corporation in 2007 and completed In 2008; Matrix Court, a commercial development developed by Superb Approach in 2007 and completed in 2009; and Taman Sri Intan, a residential and commercial development undertaken by 1 Sendayan Club through a joint-venture arrangement with the Housing and Local Government Unit of Neger; Sembilan. The project commenced development in 2007 and was completed in 2008. In 2008, we launched the first two phases of developments in Bandar Sri Sendayan, a residential area namely Nusari Bayu 1 with 1,159 units of terrace houses and 18 lots of commercial plots at Sendayan Metropark. Nusari Bayu 1 as well as the infrastructure for the commercial plots at Sendayan Metropark was completed in 2010. In addition, we also completed and delivered 500 units of bungalows for Idaman Villa as part of the joint-venture agreement with MBI in 2008. The handover ceremony was officiated by the Chief Minister of Negeri Sembilan, YAB Dato’ Seri Utama Haji Mohamad bin Haji Hasan on 28 February 2008. In the same year of 2008, we also entered into a joint-venture with Reka Property Venture Sdn Bhd to develop a mixed development namely Taman Pulai Perdana in Seremban. This development commenced in 2008 and was completed in 2009 with all units sold. In 2009, we commenced on the next phase of our flagship integrated township development in Bandar Sri Sendayan, Seremban comprising 359 units of terrace houses namely Nusari Bayu 2A which were completed in 2011 with all units sold. During the same year, we also continued with the further residential development of Taman Desa PO II (Phase 1) in Port Dickson through Matrix. This was also completed in the 2011 with all units sold. During the same year in 2009, our subsidiaries, Matrix, MCHB Management and Juwasan Maju upgraded their Quality Management System from ISO 9001 :2000 to ISO 9001 :2008 for project management, provision of construction and administrative management services in property development from BM TRADA Certification Ltd. In 2010, BSS Development continued to develop seven different phases of Bandar Sri Sendayan which comprised 916 units of terrace houses, 74 units of semi-detached houses, 51 lots of industrial plots and 46 units of shop offices. In 2011, BSS Development continued the development of five new phases In Bandar Sri Sendayan. Of the developments commenced in 2010 and 2011, seven phases were completed between 2011 and February 2013 with all units sold. As at LPD, our Group has completed 2,653 units of terrace houses, 74 units of semi-detached houses, 71 units of shop offices and 18 lots of commercial plots in Bandar Sri Sendayan. As at LPD, this township has an estimated total GDV of RM1.7 billion, including completed and on-going projects. In 2011, we completed and delivered 320 units of single-storey bungalow in Taman lmpiana Kopketa as part of our fulfilment of the joint-venture agreement with the KKTNJB. In 2011, we acquired the remaining 25% stake in BSS Development and the company became a 100% SUbsidiary of our Group, with one share held by MBI. During the same year, we disposed a piece of land measuring 750 acres to 1MDB for the purpose of setting-up a new academia and training centre for the Royal Malaysian Air Force and the relocation of the Sungal Besi base to Bandar Sri Sendayan in Negeri Sembilan. 215 7. INFORMATION ON OUR GROUP (Cont’d) In 2012, together with MBI, we signed various sales and purchase agreements with the following companies for the sale of industrial lots at Sendayan Tech Valley 1 and 2: Akashi-Kikai Industry (M) Sdn Bhd for the sale of 6 industrial lots at Sendayan Tech Valley 1 measuring 113,016 square metres for the construction of an electronic automation transmission system plant; Messier-Bugalti-Dowty Malaysia Sdn Bhd for the sale of an of industrial plot at Sendayan TechValley 2 measuring 555,278 square feet for the construction of an aero brake disc plant; Hino Motors Manufacturing (Malaysia) Sdn Bhd for the sale of an industrial plot at Sendayan TechValley 2 measuring 171,397 square metres for the construction of a plant involved in manufacturing of trucks and buses; Keen Point (M) Sdn Bhd for the sales of 3 lots of industrial plots at Sendayan TechValley 2 measuring 481,911 square feet for the construction of an electroplating plant; Meditop Corporation (M) Sdn Bhd for the sales of 3 industrial plots at Sendayan TechValley 2 measuring 857,378 square feet for the construction of a medical equipment plant; . TMC Metal (Malaysia) Sdn Bhd for the sale of an industrial plot at Sendayan TechValley 1 measuring 17,778 square metres for the construction of a metal casting plant. In 2012, BSS Development began the development of six new phases in Bandar Sri Sendayan, which comprised 1,184 units of terrace houses, 10 units of semi-detached houses and a clubhouse. During the same year, Matrix also began development on Taman Seri Impian 4 -Impiana Casa 2 which comprised 288 units of terrace houses. In 2012, through Matrix, our Group also began the development of Taman Desa PD 3, a residential property project in Port Dickson, Negeri Sembilan. In January 2013, together with MBI, we signed a sales and purchase agreement with MBMR Properties Sdn Bhd for the sale of 4 lots of industrial plots at Sendayan TechValley 2 measuring 20.26 acres for the construction of an automotive plant. In February 2013, we signed a sales and purchase agreement with Resort & Leisure Homes Sdn Bhd for the purchase of a piece of vacant land of apprOXimately 5 acres in Port Dickson, Negeri Sembilan, which is to be used for a residential condominium building. Over the past 13 years, our Group had been involved in joint-venture with MBI for the development of the following projects: Taman Andalas in Mantin, Negeri Sembilan for the development of low cost flats in 2000; Taman Sendayan Indah in Seremban, Negeri Sembilan for a mixed residential and commercial development in 2002; our second flagship integrated development project, namely, Bandar Sri Sendayan, Seremban, Negeri Sembilan in 2005; and Third 9 Residence, Seremban, Negeri Sembilan for the development of residential properties in 2011. Our Non-Independent Non-Executive Chairman, Dato’ Haji Mohamad Haslah bin Mohamad Amin is also the Chief Executive Officer of MBI. He was appointed to the board of BSS Development in 2005 as one of the representatives of MBI pursuant to our joint-venture with MBI for the Bandar Sri Sendayan integrated development project. For the past four (4) FYE 31 December 2009 to 2012, we have sold 12 plots of undeveloped land amounting to RM350.2 million. As at LPD, we have sold 20,056 out of a total of 20,079 residential and commercial properties completed since the commencement of our Group. As at LPD, the total GDV of the properties completed since our Group’s commencement amounted to RM2.1 billion. 216 7. INFORMATION ON OUR GROUP (Cont’d) As at the LPD, based on our on-going projects, our Group has launched 3,128 units of residential, commercial and industrial properties, of which 93 lots are industrial plots, with an estimated total GDV of RM1.4 billion. Of these, 2,807 units of properties including 57 lots of industrial plots were sold, which represented 89.7% of the total number of properties launched by our Group under our on-going projects. As at the LPD, our Group has a land bank of approximately 1,568 acres located mainly in Seremban and Port Dickson, Negeri Sembilan and Kluang, Johor for future development, of which 1,457 acres of the land bank are owned by our joint-venture partners. All our land bank has been approved for development of residential, commercial, industrial, institutional and leisure properties. Since the commencement of our Group’s operations In 1997, we have established ourselves as a reputable property developer in Negeri Sembilan and Johor with revenues of RM456.1 million for the FYE 31 December 2012. 7.2 LISTING SCHEME In conjunction with and as an integral part of the listing of and quotation for the entire enlarged issued and paid-up share capital of our Company on the Main Market of Bursa Securities, we undertook the following exercises: 7.2.1 Bonus Issue Our Company implemented a bonus issue of 186,399,060 new Shares to our existing shareholders on the basis of approximately 3.65 new Shares for every 1 existing Share held by way of capitalisation of RM186,399,060 from our retained profits based on our audited financial statements for the FYE 31 December 2012. Upon completion of the Bonus Issue on 18 March 2013, the issued and paid-up share capital of our Company was increased from RM51,100,940 comprising 51,100,940 Shares to RM237,500,000 comprising 237,500,000 Shares. The new Shares issued pursuant to the Bonus Issue ranked pari passu in all respects with our then existing issued and fully paid-up ordinary shares, except that they will not be entitled to any dividend, rights, allotment or other distribution, the entitlement date of which is prior to the date of allotment of the said Shares. 7.2.2 IPO 7.2.2.1 Public Issue To facilitate the listing of and quotation for our Company’s entire enlarged issued and paid-Up share capital on the Main Market of Bursa Securities and to comply with the Listing Requirements with regard to shareholding spread, our Company shall undertake a Public Issue of 62,500,000 new Shares representing approximately 20.83% of our enlarged issued and paid-Up share capital at the Issue Price. Upon completion of the Public Issue, our Company’s issued and paid-up share capital will be further increased from RM237,SOO,000 comprising 237,500,000 Shares to RM300,000,000 comprising 300,000,000 Shares. Further details on the Public Issue are set out in Section 3.3.1 of this Prospectus. 7. INFORMATION ON OUR GROUP (Cont’d) 7.2.2.2 Offer for Sale The Offerors will collectively make an Offer for Sale of 37,500,000 Offer Shares, representing 12.50% of our enlarged issued and paid-up share capital at the Offer Price. The details of the Offerors are as follows: Name of Offerors No. of Offer Shares _______—‘-‘-~__c Ambang Kuasa 15,000,000 Magnitude Point 8,500,000 Target Venue 4,000,000 Data’ Lee Tian Hock 4,000,000 Meridian Effect 3,000,000 Fine Approach 2,000,000 . Datin Yang Chou Lian 1,000,000 Further details on the Offer for Sale are set out in Section 3.3.2 of this Prospectus. 7.2.3 ESOS In conjunction with the Listing, we are implementing an ESOS which entails the issuance of up to 10.0% of our issued and paid-up share capital (excluding treasury shares) at anyone time pursuant to the options to be granted under the ESOS to our Group’s eligible Directors and employees, in the manner set out in Section 3.3.4 of this Prospectus. Details of the ESOS are set out in the ESOS By-Laws in Section 15 of this Prospectus. 7.2.4 Listing Our Company will seek the listing of and quotation for our entire enlarged share capital of RM300,000,000 comprising 300,000,000 Shares on the Main Market of Bursa Securities. The board lot size for our enlarged issued and paid-up share capital upon listing wiil be standardised at 100 Shares per board lot THE REST OF THIS PAGE IS INTENTIONAllY LEFT BLANK 7. INFORMATION ON OUR GROUP (Cont’d) 7.3 SHARE CAPITAL Our Company’s present authorised share capital is RM2,000,000,000 comprising 2,000,000,000 Shares. As at the LPD, the issued and paid-up share capital of our Company is RM237,500,000 comprising 237,500,000 Shares. Cumulative  No. of  Par  issued and paid­ Date of allotment  shares  value  Consideration  up share capital  RM  RM
24 December 1996 4 March 1997 26 December 2002 25 August 2003 15 September 2003 23 December 2003 18 June 2004 9 December 2008 4 November 2011 9 November 2011 20 December 2011 18 March 2013 2 99,998 935,000 9,315,000 600,000 10,950,000 10,637,143 8,134,286 1 3,985,800 6,443,710 186,399,060 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 219 Cash (Subscribers’ Shares) Cash Other than cash (Acquisition of subsidiaries) Other than cash (Capitalisation of retained profits by way of special bonus issue) Cash Other than cash (Capitalisation of investment revaluation reserve by way of bonus issue) Other than cash (Capitalisation of investment revaluation reserve by way of bonus issue) Other than cash (Capitalisation of retained profits by way of special bonus issue) Cash Other than cash (Capitalisation of retained profits by way of special bonus issue) Other than cash (Acquisition of subsidiary) Other than cash (Capitalisation of retained profits by way of bonus issue) 100,000 1,035,000 10,350,000 10,950,000 21,900,000 32,537,143 40,671,429 40,671,430 44,657,230 51,100,940 237,500,000 I ICompany No.: 414615-U 7. INFORMATION ON OUR GROUP (Cont’d) 7.4 INFORMATION ON OUR SUBSIDIARIES 7.4.1 BSS Development (i) Incorporation and principal activities BSS Development was incorporated in Malaysia as a private limited company under the Act on 27 April 2005 under the name of Formasi Bestari Sdn Bhd. Subsequently, on 16 January 2006, it changed its name to BSS Development. BSS Development commenced operations on 1 June 2005. BSS Development is principally involved in property development and sales of land. (ii) Share capital The present authorised share capital of BSS Development is RM5,000,000 comprising 4,999,999 ordinary shares of RM1.00 each and 1 Redeemable Preference Share of RM1.oo each of which 2,500,000 ordinary shares of RM1.00 each and 1 Redeemable Preference Share of RM1.00 each have been issued and fUlly paid-up. Details of the changes in the issued and fully paid-up share capital of BSS Development since its incorporation are as follows: Cumulative Date of No. of Par issued and paid-allotment shares value Consideration up share capital RM RM 27 April 2005 2 1.00 Cash 2 (Subscribers’ Shares) 29 August 999,998 1.00 Cash 1,000,000 2005 29 August *1 1.00 Cash 1,000,001 2005 14 November 1,500,000 1.00 Other than cash 2,500,001 2012 (Capitalisation of the amount owing to holding company)
Note: * Redeemable Preference Share held by MBI. As at the LPD, there are no other outstanding warrants, options, convertible securities or uncalled capital in BSS Development. In addition, there are no discounts, special terms or instalment payment terms applicable to the payment of the consideration for the allotment. (iii) Subsidiaries and associated companies As at the LPD, BSS Development does not have any subsidiary and associated companies. (iv) Substantial shareholders BSS Development is a wholly-owned subsidiary of Matrix Concepts. 7. INFORMATION ON OUR GROUP (Cont’d) 7.4.2 Masuda Corporation (i) Incorporation and principal activities
Masuda Corporation was incorporated in Malaysia as a private limited company under the Act on 21 January 1997 under its present name. Masuda Corporation commenced operations since incorporation. Masuda Corporation is principally involved in property development and investment holding. The principal activities of its subsidiaries are set out in Sections 7.4.11 and 7.4.12 below.
(ii) Share capital

The present authorised share capital of Masuda Corporation is RM500,000 comprising 500,000 ordinary shares of RM1.00 each of which 300,000 ordinary shares of RM1.00 each have been issued and fully paid-up. Details of the changes in the issued and fUlly paid-up share capital of Masuda Corporation since its incorporation are as follows: Cumulative Date of No. of Par issued and paid-allotment shares value Consideration up share capital RM RM 21 January 2 1.00 Cash 2 1997 (Subscribers’ Shares) 15 September 299,998 1.00 Cash 300,000 1997 As at the LPD, there are no other outstanding warrants, options, convertible securities or uncalled capital in Masuda Corporation. In addition, there are no discounts, special terms or instalment payment terms applicable to the payment of the consideration for the allotment. (iii) Subsidiary and associated companies Masuda Corporation is the holding company of a 70%-owned and a wholly­owned sUbsidiary, being Insani Utama and MCHB Management respectively, further details of which are set out in Sections 7.4.11 and 7.4.12 below. (iv) Substantial shareholders Masuda Corporation is a wholly-owned sUbsidiary of Matrix Concepts. THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK I Company No.: 414615-U I 7. INFORMATION ON OUR GROUP (Cont’d) 7.4.3  Matrix  (i)  Incorporation and principal activities  Matrix was incorporated in Malaysia as a private limited company under the  Act on 15 April 1994 under its present name. Matrix commenced operations  in  year  1997.  Matrix  is  principally  invoived  in  property development and  investment holding. The principal activities of its subsidiaries are set out in  Sections 7.4.13 and 7.4.14 below.  (ii)  Share capital  The present authorised share capital of Matrix is RM5,000,000 comprising  5,000,000 ordinary  shares  of RM1.00  each  of which  2,000,000 ordinary  shares of RM1.00 each have been issued and fully paid-up.  Details of the changes in the issued and fully paid-up share capital of Matrix  since its incorporation are as foliows:
Cumulative issued and Date of No. of Par paid-up share allotment shares value Consideration capital RM RM 15 April 1994 2 1.00 Cash 2 (Subscribers’ Shares) 7 April 1997 249,998 1.00 Cash 250,000 15 September 500,000 1.00 Cash 750,000 1997 1 November 1,250,000 1.00 Other than cash 2,000,000 2006 (Capitalisation of amount owing to holding company) As at the LPD, there are no other outstanding warrants, options, convertible securities or uncalled capital in Matrix. In addition, there are no discounts, special terms or instalment payment terms applicable to the payment of the consideration for the allotment. (iii) Subsidiary and associated companies Matrix is the holding company of two wholly-owned subsidiaries, being 1 Sendayan Ciub and Kris Benua, further details of which are set out in Sections 7.4.13 and 7.4.14 below. (iv) Substantial shareholders Matrix is a wholly-owned subsidiary of Matrix Concepts. I Company No.: 414615-U I 7. INFORMATION ON OUR GROUP (Cont’d) 7.4.4 MCHB Natro’ (i) Incorporation and principal activities
MCHB Natra’ was incorporated in Malaysia as a private limited company under the Act on 19 December 1996 under the name of Demi Sejati Sdn Bhd. Subsequently, on 28 December 2007, it changed its name to MCHB Natro’. MCHB Natro’ commenced operations since incorporation. MCHB Natro’ is principally involved in landscape management. MCHB Natra’ was previously involved in property development.
(ii) Share capital

The present authorised share capital of MCHB Natro’ is RM500,000 comprising 500,000 ordinary shares of RM1.00 each of which 300,000 ordinary shares of RM1.00 each have been issued and fully paid-up. Details of the changes in the issued and fully paid-up share capital of MCHB Natra’ since its incorporation are as follows: Cumulative Date of No. of Par issued and paid-allotment shares value Consideration up share capital RM RM 19 December 2 1.00 Cash 2 1996 (Subscribers’ Shares) 7 April 1997 299,998 1.00 Cash 300,000 As at the LPD, there are no other outstanding warrants, options, convertible securities or uncalled capital in MCHB Natro’. In addition, there are no discounts, special terms or instalment payment terms applicable to the payment of the consideration for the allotment. (iii) Subsidiary and associated companies As at the LPD, MCHB Natro’ does not have any sUbsidiary and associated companies. (iv) Substantial shareholders MCHB Natra’ is a wholly-owned subsidiary of Matrix Concepts. THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK I 7. INFORMATION ON OUR GROUP (Cont’d) 7.4.5 1 Sendayan Education (i) Incorporation and principal activities
1 Sendayan Education was incorporated in Malaysia as a private limited company under the Act on 21 June 1996 under the name of Omega Ciptaan Sdn Bhd. Subsequently, on 12 October 2011, it changed its name to 1 Sendayan Education. 1 Sendayan Education commenced operations in June 2002. 1 Sendayan Education’s intended principal activity is in the provision of education services. The company was previously involved in property development.
(ii) Share capital

The present authorised share capital of 1 Sendayan Education is RM100,OOO comprising 100,000 ordinary shares of RM1.00 each 6f which 100,000 ordinary shares of RM1.00 each .have been issued and fuliy paid-up. Details of the changes in the issued and fUily paid-up share capitai of 1 Sendayan Education since its incorporation are as foilows: Cumulative Date of No. of Par issued and paid-allotment shares value Consideration up share capital RM RM 21 June 1996 2 1.00 Cash 2 (Subscribers’ Shares) 13 February 18 1.00 Cash 20 1998 30 October 80 100 Cash 100 2000 2 March 2012 99,900 1.00 Cash 100,000 As at the LPD, there are no other outstanding warrants, options, convertible securities or uncailed capital in 1 Sendayan Education. In addition, there are no discounts, special terms or instalment payment terms applicable to the payment of the consideration for the allotment. (iii) Subsidiary and associated companies As at the LPD, 1 Sendayan Education does not have any subsidiary and associated companies. (iv) Substantial shareholders 1 Sendayan Education is a whoily-owned subsidiary of Matrix Concepts. 7. INFORMATION ON OUR GROUP (Cont’d) 7.4.6 Riverine Projects (i) Incorporation and principal activities
Riverine Projects was incorporated in Malaysia as a private limited company under the Act on 16 August 2002 under its present name. Riverine Projects commenced operations since incorporation. Riverine Projects is principally involved in property development.
(ii) Share capital

The present authorised share capital of Riverine Projects is RM100,000 comprising 100,000 ordinary shares of RM1.00 each of which 2 ordinary shares of RM1.00 each have been issued and fully paid·up. Details of the changes in the issued and fully paid-up share. capital of Riverine Projects since its incorporation are as follows: Cumulative Date of No. of Par issued and paid-allotment shares value Consideration up share capital RM RM 16 August 2 1.00 Cash 2 2002 (Subscribers’ Shares) As at the LPD, there are .no other outstanding warrants, options, convertible securities or uncalled capital in Riverine Projects. In addition, there are no discounts, special terms or instalment payment terms applicable to the payment of the consideration for the allotment. (iii) Subsidiary and associated companies As at the LPD, Riverine Projects does not have any subsidiary and associated companies. (iv) Substantial shareholders Riverine Projects is a wholly-owned subsidiary of Matrix Concepts. THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK 7. INFORMATION ON OUR GROUP (Cont’d) 7.4.7 Superb Approach (i) Incorporation and principal activities
Superb Approach was incorporated in Malaysia as a private limited company under the Act on 2 October 1996 under its present name. Superb Approach commenced operations on 15 September 1997. Superb Approach is principally involved in property development and investment holding.
(ii) Share capital

The present authorised share capital of Superb Approach is RM500,000 comprising 500,000 ordinary shares of RM1.00 each of which 250,000 ordinary shares of RM1.00 each have been issued and fully paid-up. Details of the changes in the issued and fully paid-up share capital of Superb Approach since its incorporation are as follows: Cumulative Date of No. of Par issued and paid-allotment shares value Consideration up share capital RM RM 2 October 2 1.00 Cash 2 1996 (Subscribers’ Shares) 27 September 99,998 1.00 Cash 100,000 1997 11 June 2004 150,000 1.00 Cash 250,000 As at the LPD, there are no other outstanding warrants, options, convertible securities or uncalled capital in Superb Approach. In addition, there are no discounts, special terms or instalment payment terms applicable to the payment of the consideration for the allotment. (iii) . SUbsidiary and associated companies As at the LPD, Superb Approach does not have any sUbsidiary and associated companies. (iv) Substantial shareholders Superb Approach is a wholly-owned subsidiary of Matrix Concepts. THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK 7. INFORMATION ON OUR GROUP (Cont’d) 7.4.6 Seventech (i) Incorporation and principal activities
Seventech was incorporated in Malaysia as a private limited company under the Act on 29 April 1994 under its present name. Seventech commenced operations in December 2003. Seventech is principally involved in property development.
(ii) Share capital

The present authorised share capital of Seventech is RMSOO,OOO comprising 500,000 ordinary shares of RM1.00 each of which 250,000 ordinary shares of RM1.00 each have been issued and fully paid-up. Details of the changes in the issued and fully paid-up share capital of Seventech since its incorporation are as follows: Cumulative  Date of  No. of  Par  issued and paid- allotment  shares  value  Consideration  up share capital  RM  RM
29 April 1994 2 1.00 Cash 2 (Subscribers’ Shares) 18 January 99,998 1.00 Cash 100,000 1996 9 September 150,000 1.00 Cash 250,000 2004 As at the LPD, there are no other outstanding warrants, options, convertible securities or uncalled capital in Seventech. In addition, there are no discounts, special terms or instalment payment terms applicable to the payment of the consideration for the allotment. (iii) SUbsidiary and associated companies As at the LPD, Seventech does not have any subsidiary and associated companies. (iv) Substantial shareholders Seventech is a wholly-owned subsidiary of Matrix Concepts. THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK 7. INFORMATION ON OUR GROUP (Cont’d) 7.4.9 Pembinaan Juwasan (i) Incorporation and principal activities
Pembinaan Juwasan was incorporated in Malaysia as a private limited company under the Act on 30 December 1996 under its present name. Pembinaan Juwasan commenced operations since incorporation. Pembinaan Juwasan is principally involved in project managemenL The principal activities of its subsidiaries are set out in Sections 7.4.15 and 7.4.16 below.
(ii) Share capital

The present authorised share capital of Pembinaan Juwasan is RM500,000 comprising 500,000 ordinary shares of RM1.00 each of which 300,000 ordinary shares of RM1.00 each have been issued and fully paid-up. Details of the changes in the issued and fully paid-up share capital of Pembinaan Juwasan since its incorporation are as follows: Cumulative Date of No. of Par issued and paid-allotment shares value Consideration up share capital RM RM 30 December 2 1.00 Cash 2 1996 (Subscribers’ Shares) 25 February 49,998 1.00 Cash 50,000 1997 18 September 250,000 1.00 Cash 300,000 1999 As at the LPD, there are no other outstanding warrants, options, convertible securities or uncalled capital in Pembinaan Juwasan. In addition, there are no discounts, special terms or instalment payment terms applicable to the payment ofthe consideration for the aliotmenL (iii) Subsidiary and associated companies Pembinaan Juwasan is the holding company of two wholly-owned subsidiaries, being Juwasan Maju and Juwasan Trading, further details of which are set out in Sections 7.4.15 and 7.4.16 below. (iv) Substantial shareholders Pembinaan Juwasan is a wholly-owned subsidiary of Matrix Concepts. THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK [c;ompany No.: 414615-U 7. INFORMATION ON OUR GROUP (Cont’d) 7.4.10 MCHB Properties (i) Incorporation and principal activities
MCHB Properties was incorporated in Malaysia as a private limited company under the Act on 19 December 2011 under its present name. MCHB Properties is presently dormant. MCHB Properties’ intended principal activity is that of property investment and rental of properties.
(ii) Share capital

The present authorised share capital of MCHB Properties is RM100,000 comprising 100,000 ordinary shares of RM1.00 each of which 2 ordinary shares of RM1.00 each have been issued and fully paid-up. Details of the changes in the issued and fully paid-up share capital of MCHB Properties since its incorporation are as follows: Cumulative Date of No. of Par issued and paid-allotment shares value Consideration up share capital RM RM 19 December 2 1.00 Cash 2.00 2011 (Subscribers’ Shares) As at the LPD, there are no other outstanding warrants, options, convertible securities or uncalled capital in MCHB Properties. In addition, there are no discounts, special terms or instalment payment terms applicable to the payment of the consideration for the allotment. (iii) Subsidiary and associated companies As at the LPD, MCHB Properties does not have any subsidiary and associated companies. (iv) Substantial shareholders MCHB Properties is a wholly-owned subsidiary of Matrix Concepts. THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK 7. INFORMATION ON OUR GROUP (Cont’d) 7.4.11 Insani Utama (i) Incorporation and principal activities
Insani Utama was incorporated in Malaysia as a private limited company under the Act on 21 September 1990 under its present name. Insanl Utama commenced operations on 18 June 1992. Insani Utama is principally involved in property development.
(ii) Share capital

The present authorised share capital of Insani Utama is RM500,000 comprising 500,000 ordinary shares of RM1.00 each of which 250,000 ordinary shares of RM1.00 each have been issued and fUlly paid-up. Details of the changes in the issued and fully paid-up share capital of Insani Utama since its incorporatiDn are as fDllows: Cumulative Date of No. of Par issued and paid-allotment shares value Consideration up share capital RM RM 21 September 2 1.00 Cash 2 1990 (Subscribers’ Shares) 20 March 1 1.00 Cash 3 1992 20 April 1993 249,997 1.00 Cash 250,000 As at the LPD, there are nD Dther outstanding warrants, Dptions, convertible securities or uncalled capital in Insani Utama. In addition, there are nD discounts, special terms Dr instalment payment terms applicable to the payment of the consideration fDr the allotment. (iii) Subsidiary and associated companies As at the LPD, Insani Utama dDes nDt have any subsidiary and associated companies. (iv) Substantial shareholders Insani Utama is a 70%-Dwned subsidiary Df Masuda Corporation. The remaining thirty percent (30%) equity interest of Insani Utama is held by Matrix Concepts. THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK 7. INFORMATION ON OUR GROUP (Cont’d) 7.4.12 MCHB Management (i) Incorporation and principal activity
MCHB Management was incorporated in Malaysia as a private limited company under the Act on 26 September 1997 under the name of Masuda Property Services Sdn Bhd. Subsequently, on 28 December 2007, it changed its name to MCHB Management. MCHB Management commenced operations since incorporation. MCHB Management is principally involved in the provision of management and administrative services.
(ii) Share capital

The present authorised share capital of MCHB Management is RM100,000 comprising 100,000 ordinary shares of RM1.00 each of which 10,000 ordinary shares of RM1.00 each have been issued and fully paid-up. Details of the changes in the issued and fully paid-up share capital of MCHB Management since its incorporation are as follows: Cumulative Date of No. of Par issued and paid-allotment shares value Consideration up share capital RM RM 29 September 2 1.00 Cash 2 1997 (Subscribers’ Shares) 2 March 1998 9,998 1.00 Cash 10,000 As at the LPD, there are no other outstanding warrants, options, convertible securities or uncalled capital in MCHB Management. In addition, there are no discounts, special terms or instalment payment terms applicable to the payment of the consideration for the allotment. (iii) Subsidiary and associated companies As at the LPD, MCHB Management does not have any subsidiary and associated companies. (iv) Substantial shareholders MCHB Management is a wholly-owned subsidiary of Masuda Corporation. THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK 7. INFORMATION ON OUR GROUP (Cont’d) 7.4.13 1 Sendayan Club (i) Incorporation and principal activities
1 Sendayan Club was incorporated in Malaysia as a private limited company under the Act on 20 November 1998 under the name of Sepadu Intan Sdn Bhd. Subsequently, on 28 October 2011, it changed its name to 1 Sendayan Club. 1 Sendayan Club commenced operations since incorporation. 1 Sendayan Club’s intended activity is principally involved in clubhouse operations. The company was previously involved in property development.
(ii) Share capital

The present authorised share capital of 1 Sendayan Club is RM500,000 comprising 500,000 ordinary shares of RM1.00 each of which 300,000 ordinary shares of RM1.00 each have been issued and fUlly paid-up. . Details of the changes in the issued and fully paid-up share capital of 1 Sendayan Club since its incorporation are as follows: Cumulative Date of No. of Par issued and paid-allotment shares value Consideration up share capital RM RM 20 November 2 1.00 Cash 2 1998 (SUbscribers’ Shares) 16 August 299,998 1.00 Cash 300,000 1999 As at the LPD, there are no other outstanding warrants, options, convertible securities or uncalled capital in 1 Sendayan Club. In addition, there are no discounts, special terms or instalment payment terms applicable to the payment of the consideration for the allotment. (iii) SUbsidiary and associated companies As at the LPD, 1 Sendayan Club does not have any subsidiary and associated companies. (iv) Substantial shareholders 1 Sendayan Club is a wholly-owned SUbsidiary of Matrix. THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK 7. INFORMATION ON OUR GROUP (Cont’d) 7.4.14 Kris Benua (i) Incorporation and principal activities
Kris Benua was incorporated in Malaysia as a private limited company under the Act on 19 September 1992 under its present name. Kris Benua commenced operations in year 1994. Kris Benua is principally involved in project management. Kris Benua was previousiy involved in plantation.
(ii) Share capital

The present authorised share capital of Kris Benua is RM500,000 comprising 500,000 ordinary shares of RM1.00 each of which 500,000 ordinary shares of RM1.00 each have been issued and fully paid-up. Details of the changes in the issued and fully paid-up share capital of Kris Benua since its incorporation are as follows: Cumulative Date of No. of Par issued and paid-allotment shares value Consideration up share capital RM RM 19 September 2 1.00 Cash 2 1992 (Subscribers’ Shares) 22 October 998 1.00 Cash 1,000 1992 20 October 499,000 1.00 Cash 500,000 1998 As at the LPD, there are no other outstanding warrants, options, convertible securities or uncalled capital in Kris Benua. In addition, there are no discounts, special terms or instalment payment terms applicable to the payment of the consideration for the allotment. (iii) Subsidiary and associated companies As at the LPD, Kris Benua does not have any subsidiary and associated companies. (iv) Substantial shareholders Kris Benua is a wholly-owned subsidiary of Matrix. THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK 7. INFORMATION ON OUR GROUP (Cont’d) 7.4.15 Juwasan Maju (i) Incorporation and principal activities
Juwasan Maju was incorporated in Malaysia as a private limited company under the Act on 28 June 1993 under the name of Dermawan Tetap Sdn Bhd. SUbsequently, on 26 May 2001, it changed its name to Juwasan Maju. Juwasan Maju commenced operations on 10 July 1993. Juwasan Maju is principally involved in project management and procurement of building materials.
(ii) Share capital

The present authorised share capital of Juwasan Maju is RM1,000,000 comprising 1,000,000 ordinary shares of RM1.00 each of which 750,000 ordinary shares of RM1.00 each have been issued and fully paid-up. Details of the changes in the issued and fUlly paid-up share capital of Juwasan Maju since its incorporation are as follows: Cumulative Date of No. of Par issued and paid-allotment shares value Consideration up share capital RM RM 28 June 1993 2 1.00 Cash 2 (Subscriber shares) 25 October 24,998 1.00 Cash 25,000 1993 31 March 30,000 1.00 Cash 55,000 1994 21 December 245,000 1.00 Cash 300,000 2000 7 November 450,000 100 Cash 750,000 2003 As at the LPD, there are no other outstanding warrants, options, convertible securities or uncalled capital in Juwasan Maju. In addition, there are no discounts, special terms or instalment payment terms applicable to the payment of the consideration for the allotment. (iii) Subsidiary and associated companies As at the LPD, Juwasan Maju does not have any subsidiary and associated companies. (iv) Substantial shareholders Juwasan Maju is a wholly-owned subsidiary of Pembinaan Juwasan. 7. INFORMATION ON OUR GROUP (Cont’d) 7.4.16 Juwasan Trading (i) Incorporation and principal activities
Juwasan Trading was incorporated in Malaysia as a private limited company under the Act on 27 March 2001 under its present name. Juwasan Trading commenced operations since incorporation. Juwasan Trading is principally involved in procurement of building materials.
(ii) Share capital

The present authorised share capital of Juwasan Trading is RM100,000 comprising 100,000 ordinary shares of RM1.00 each of which 50,000 ordinary shares of RM1.00 each have been issued and fully paid-up. Details of the changes in the issued and fully paid-up share capital of Juwasan Trading since its incorporation are as follows: Cumulative Date of No. of Par issued and paid-allotment shares value Consideration up share capital RM RM 27 March 3 1.00 Cash 3 2001 (Subscribers’ Shares) 3D April 2001 49,997 1.00 Cash 50,000 As at the LPD, there are no other outstanding warrants, options, convertible securities or uncalled capital in Juwasan Trading. In addition, there are no discounts, special terms or instalment payment terms applicable to the payment of the consideration for the allotment. (iii) Subsidiary and associated companies As at the LPD, Juwasan Trading does not have any subsidiary and associated companies. (iv) Substantial shareholders Juwasan Trading is a wholly-owned subsidiary of Pembinaan Juwasan. THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK

 

 

 

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