DISPOSAL OF LAND BY ULTIMATE IVORY SDN BHD., A WHOLLY-OWNED SUBSIDIARY OF NEXTGREEN GLOBAL BERHAD ADDITIONAL INFORMATION

We refer to your Company’s announcement dated 30 July 2020 in respect of the aforesaid matter.

In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1. The net book value of the 10 acres of land to be disposed (“Land”) based on NGGB’s  latest audited financial statements.
2. Whether any valuation was carried out on the Land; if so, the name of the independent registered valuer, date and method of valuation and quantification of the market value.
3. The original cost of investment on the Land and the date of such investment.
4. The expected gains or losses to the NGGB group arising from the Land Disposal.
5. Any liabilities, including contingent liabilities, in relation to the Land Disposal which remain with NGGB, and justification for such arrangement.
6. Any guarantees given by NGGB to HSC.
7. The breakdown of intended application of the sale proceeds between working capital and part payment towards the construction costs in completing the Phase 1A of the pulp and paper mill in TP Pekan, including the timeframe for full utilisation of proceeds.

8.    Details of the working capital for which part of the proceeds will be used.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

Yours faithfully

LISTING

REGULATION

Cc : Market Surveillance Dept., Securities Commission (via fax)