Pursuant to Paragraph 9.04(a) of the Bursa Malaysia Securities Berhad Main Market Listing Requirements, the Board of Directors of BHS Industries Berhad wishes to announce that its wholly-owned subsidiary company, BHS Palau Incorporated, has on 26 May 2017 entered into a Ngiwal Township Development Agreement with National Government of the Republic of Palau, Ngiwal State Government and Ngiwal State Public Land Authority to form a joint venture for the development and sale (or lease) of the residential and commercial units on the lands within the Republic of Palau which such proposed development shall be named New Ngiwal Green City or such other name to be mutually agreed to in writing by the Developer and the State Government (“Joint Venture”). 

Details of the Joint Venture is set out in the file attached.