The Board of Directors of BHS Industries Berhad (“BHS” or the “Company”) is pleased to announce that the Company had on 10 March 2017 received from Pejabat Setiausaha Kerajaan Pahang (Pahang State Government) its approval via its letter dated 17 February 2017 granted the Company’s wholly-owned subsidiary, Ultimate Ivory Sdn. Bhd. the land approval for additional 35.41 acres of land in Kg. Paloh Hinai, Mukim Lepar, Daerak Pekan, Pahang Darul Makmur (“Additional Land”) for a purchase consideration of Ringgit Malaysia Eight Hundred Seventy Three Thousand Four Hundred Forty Six And Sixty Six Sen only (RM873,446.66) ("Acquisition").

Details of the Acquisition is set out in the file attached.