The terms used herein, unless context otherwise states, shall bear the same meaning as those defined in the Announcement dated 4 June 2021 and 14 June 2021.

We refer to the earlier announcements in relation to the Proposed Acquisition (as defined) issued by SOPB dated 4 June 2021 and 14 June 2021.

On behalf of the Board, we wish to announce that the Proposed Acquisition has been duly completed on 13 September 2021 (“Completion Date”).

This announcement is dated 13 September 2021.

LOADED WITH CASH - SOP HAS PAID FOR PRIME LANDS WITH RM14 MILLIONS IN CASH

The proposed purchase was mooted on June 4th 2021

The Board of Directors of Sarawak Oil Palms Berhad (“Board” or “SOPB”) wishes to announce that Wawasan Asiamaju Sdn Bhd (“Wawasan” or “Purchaser”), a subsidiary of the Company had on 4 June 2021 entered into a Sale and Purchase Agreement (“SPA”) with Shin Yang Construction Sdn Bhd (“SYCSB” or “Vendor”) to acquire four (4) parcels of land described as Lots 172, 919, 920 and 921 all of Block 233, Kuching North Land District and measuring approximately 9.5827 hectares more or less (“Lands”) in total, for a total cash consideration of RM14,000,000.00 (“Purchase Price”) (“Proposed Land Acquisition”). In consideration of Wawasan entering into the Proposed Land Acquisition with SYCSB, SYCSB has agreed to transfer all its 539,000 ordinary shares in Wawasan to SOP Properties Sdn Bhd (“SOP Properties”) for a consideration of RM449,750.00 in accordance to the SPA (“Proposed Share Acquisition”).