1. INTRODUCTION
The Board of Directors of EHB ("the Board") wishes to announce that EXSIM Concepto Sdn. Bhd. ("ECSB"), a wholly-owned subsidiary of the Company, had on 20 May 2026 accepted the letter of award dated 19 May 2026 ("LOA") awarded by Maybank Trustees Berhad, acting as trustee for AmFIRST Real Estate Investment Trust ("AmFIRST REIT") for the execution, construction, and completion works of 17-storey hotel with 3 basement levels known as Summit Hotel USJ ("Contract Works").
2. INFORMATION ON ECSB
ECSB was incorporated in Malaysia as a private company limited by shares having its registered address at No. D-09-02, Level 9, EXSIM Tower, Millerz Square @ Old Klang Road, Megan Legasi, No. 357, Jalan Kelang Lama, 58000 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur.
The nature of business of ECSB is principally involved in providing specialised fit-out services for hospitality property assets, general contracting business and centralised procurement business.
3. INFORMATION ON AMFIRST REIT
AmFIRST REIT is a real estate investment trust established in Malaysia and constituted under the Deed dated 28 September 2006 (Original Deed) (as amended by the First Supplemented, Revised and Restated Trust Deed dated 15 December 2006 (First Deed), the Second Restated Deed dated 13 September 2013 (Second Deed) and the Third Restated Deed dated 12 June 2020 (Third Deed) entered into between AmREIT Managers Sdn. Bhd. ("AmREIT" or "the Manager") and Maybank Trustees Berhad, as the trustee of AmFIRST REIT ("the Trustee").
The nature of business of AmFIRST REIT is to own and invest in a portfolio of commercial properties in major growth areas in Malaysia.
4. DETAILS OF THE LOA
(a) The contract sum for the Contract Works is RM45,000,000.00 (Ringgit Malaysia: Forty-Five Million) only ("the Contract Sum").
(b) The date of commencement shall be on 22 May 2026 and are scheduled to be completed in accordance with the following phases:-
(i) Phase 1A - Common area & architectural works shall be completed by 28 October 2026;
(ii) Phase 1B - 183 units of guest room (Level 7 - 14) works shall be completed by 28 October 2026; and
(iii) Phase 2 - 149 units of guest room (Level 15 - 21) shall be completed by 31 December 2026.
(c) The defects liability period shall be Twelve (12) months commencing from the date of Certificate of Practical Completion of completed works.
(d) ECSB shall carry out the Contract Works in accordance with the other supplementary terms and conditions set out in the LOA.
5. FINANCIAL EFFECTS
The acceptance of the LOA by ECSB to undertake the Contract Works is expected to contribute positively to the net assets per share, earnings per share and gearing of the Company throughout the duration of the Contract Works.
6. RISK FACTORS
The Company does not foresee any exceptional risk other than the normal operational risks associated with the LOA and/or the Contract Works. Nevertheless, the Company will take the necessary steps to mitigate the risks as and when they occur.
7. APPROVAL REQUIRED
The acceptance of the LOA is not subject to the approval from the Company's shareholders and/or any regulatory authorities.
8. DIRECTORS' AND MAJOR SHAREHOLDERS' AND/OR PERSONS CONNECTED WITH A DIRECTOR OR MAJOR SHAREHOLDER'S INTERESTS
None of the Directors and/or major shareholders of EHB or persons connected with them has any interests, direct or indirect, in the LOA and/or the Contract Works.
9. STATEMENT BY THE BOARD OF DIRECTORS
The Board, after having considered all aspects of the LOA and the Contract Works, is of the opinion that the LOA and the Contract Works are within the ordinary course of business of EHB and the acceptance of the LOA is in the best interest of the Company.
This announcement is dated 20 May 2026.