Acquisition of Land in Malacca, Malaysia for Construction of a Glass Production Plant

This announcement is made by the Board on a voluntary basis relating to the acquisition of the Land for the construction of a glass production plant.   

INTRODUCTION

On 28 November 2014, the Land Acquisition Agreement was entered into between Xinyi (Malaysia) and PKNM. Pursuant to the Land Acquisition Agreement, PKNM has agreed to sell, and Xinyi (Malaysia) has agreed to purchase, the Land and PKNM has agreed to construct the Land Infrastructure. The total purchase price under the Land Acquisition Agreement is MYR33.32 million (equivalent to HK$77.31 million). The Group plans to use the Land for the construction of a glass production plant in Malacca, Malaysia.