On behalf of the Board of Directors of Zelan, Malacca Securities Sdn Bhd wishes to announce that ZHSB had on 7 May 2026 entered into a debt settlement agreement with MMCE to settle the debts owing to MMCE amounting to RM5,219,415.21 via the transfer of the 2 units of office lot erected on all that piece of leasehold land held under the following strata title:
Pajakan Mukim 278/M1/24/386 (No. Bangunan M1, No. Tingkat 24, No. Petak. 386), Lot 52410, Tempat Bandar Baru Tun Razak, Mukim Kuala Lumpur, Daerah Kuala Lumpur, Negeri Wilayah Persekutuan Kuala Lumpur, bearing postal address of Suite 23-01, Level 23, Wisma Zelan, No.1, Jalan Tasik Permaisuri 2, Bandar Tun Razak, 56000 Wilayah Persekutuan, Kuala Lumpur; and
Pajakan Mukim 278/M1/24/387 (No. Bangunan M1, No. Tingkat 24, No. Petak. 387), Lot 52410, Tempat Bandar Baru Tun Razak, Mukim Kuala Lumpur, Daerah Kuala Lumpur, Negeri Wilayah Persekutuan Kuala Lumpur, bearing postal address of Suite 23-18, Level 23, Wisma Zelan, No.1, Jalan Tasik Permaisuri 2, Bandar Tun Razak, 56000 Wilayah Persekutuan, Kuala Lumpur,
(collectively, referred to as "Properties") by ZHSB to MMCE ("Debt Settlement Agreement"), subject to the terms of the Debt Settlement Agreement.
Pursuant to the Proposed Debt Settlement, ZHSB and MMCE had also on 7 May 2026 entered into a conditional sale and purchase agreement ("SPA") with MMCE for the disposal of the Properties by ZHSB to MMCE at the disposal consideration of RM5.00 million ("Disposal Consideration") ("Disposal of Properties"), subject to the terms and conditions of the SPA.
Further details in relation to the Proposed Debt Settlement are set out in the attachment below.
This announcement is dated 8 May 2026.