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 25 May 2026 awarded the letter of award dated 25 May 2026 ("LOA") to Sunthesis Sdn. Bhd. ("SSB") for the supply, fabrication, delivery and installation of interior fit-out works and window treatment to apartment units in Lot 53, 55 and 56, Seksyen 43, Jalan Liew Weng Chee, Bandar Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur ("Sub-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 SSB
SSB was incorporated in Malaysia as a private company limited by shares and having its business address at No. 66-2, Jalan Seri Utara 1, Sri Utara, Off Jalan Ipoh, 68100 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur.
The nature of business of SSB is principally engaged in building construction contractor, builders, carpenter, general decorator, and building renovation and civil, electrical and mechanical engineering.
4. DETAILS OF THE LOA
(a) The sub-contract sum for the Sub-Contract Works is RM4,379,391.00 (Ringgit Malaysia: Four Million Three Hundred Seventy-Nine Thousand and Three Hundred Ninety-One) only ("the Sub-Contract Sum").
(b) The date of commencement shall be on 25 May 2026 and is scheduled for completion on 15 September 2026, with a duration of four (4) months.
(c) The defects liability period shall be twenty-seven (27) months commencing from the date of Certificate of Practical Completion of completed works.
(d) SSB shall carry out the Sub-Contract Works in accordance with the other supplementary terms and conditions set out in the LOA.
5. FINANCIAL EFFECTS
The award of the LOA by ECSB to SSB for the Sub-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 Sub-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 Sub-Contract Works. Nevertheless, the Company will take the necessary steps to mitigate the risks as and when they occur.
7. APPROVAL REQUIRED
The award and issuance of the LOA by ECSB to SSB 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
The award and issuance of the LOA by ECSB to SSB is regarded as recurrent related party transactions of a revenue or trading nature ("RRPT") pursuant to Main Market Listing Requirements of Bursa Malaysia Securities Berhad of which mandate to enter into such RRPT had been obtained from its shareholders at the Extraordinary General Meeting of the Company dated 13 April 2026.
Mr. Lim Aik Hoe, Mr. Lim Aik Kiat and Mr. Lim Aik Fu (collectively, the "Interested Major Shareholders") holds 72.56% indirect interest in EHB through their direct shareholding in EXSIM Hospitality Holdings Sdn. Bhd., pursuant to Section 8 of the Act.
The Interested Major Shareholders also hold 15% indirect interest in SSB via their direct shareholding in EXSIM Holdings Sdn. Bhd., pursuant to Section 8 of the Act.
Save as disclosed above, none of the Directors, major shareholders of the Company, and/or persons connected to them has any interest, direct or indirect, in the Sub-Contract Works.
9. STATEMENT BY THE BOARD OF DIRECTORS
The Board, after having considered all aspects of the LOA and the Sub-Contract Works, is of the opinion that the LOA and the Sub-Contract Works are within the ordinary course of business of EHB and the issuance of the LOA is in the best interest of the Company.
This announcement is dated 25 May 2026.