1. Introduction

Pursuant to Paragraph 9.19(46) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors (“the Board”) of JHB wishes to announce that the Company had undertaken a revaluation exercise (“Revaluation”) on the Properties, Plant and Equipment (“PPE”) and Investment Properties (“IP”) held by the Company and its subsidiaries (“the Group”).

The Board has approved the incorporation of the revaluation loss arising from the Revaluation in the Group’s consolidated financial statements for the financial period ended 31 July 2023, as follows:

(The revaluation deficit, fair value loss and impairment loss were collectively referred to as “Revaluation Loss”)

Note:

# The reversal of impairment loss on building of RM0.477 million is pertaining to the revaluation reserve of leasehold land and building overtaken up on the last quarter.

2. Purpose of the Valuation

The Revaluation was carried out in accordance with the Group’s accounting policy to determine and ascertain the fair value of the Group’s PPE and IP pursuant to the Malaysian Financial Reporting Standard (“MFRS”) 116: Property, Plant and Equipment, MFRS 140: Investment Property and MFRS 136: Impairment of Assets.

3. Details of the Revaluation Loss and Properties

Please refer to the Appendix A as attached.

4. Effect on the Net Assets Per Share

The Revaluation Loss has resulted in a decrease of net asset per share of JHB by 1.13 sen to 18.14 sen as at 31 July 2023.

5. Documents Available for Inspection

The valuation reports of the PPE and IP are available for inspection at the Registered Office of the Company located at 11th Floor, Wisma E&C, No. 2, Lorong Dungun Kiri, Damansara Heights, 50490 Kuala Lumpur during normal office hours from Monday to Friday (except for Public Holidays) for a period of three (3) months from the date of this announcement.

This announcement is dated 29 September 2023.