The Board of Directors of Sentoria is pleased to announce that on 31 December 2012, the Company has entered into the following agreements:

 

 

 

(A)            Joint Venture Agreement (“JVA”) with Seriemas Development Sdn. Berhad. (Company No. 122570-H) (“Seriemas”) to jointly undertake the development of 204 acres of land held under the Master Title No. HS(D) 30726 PT 1082, Mukim Morib, Daerah Kuala Langat, Selangor Darul Ehsan (“Development Land”) into a mixed development of commercial and residential units (“Proposed JV”); and

 

 

 

(B)            Development Rights Agreement (“DRA”) with Seriemas for the development by Sentoria of the remaining 150 acres of land held under the Master Title No. HS(D) 30726 PT 1082, Mukim Morib, Daerah Kuala Langat, Selangor Darul Ehsan (“Sale Land”) into a water theme park, resort and convention centre, boutique hotel and safari park (comprising of river and night safari) (collectively “Components” or “4 Components” and individually, each a “Component”) and thereafter the sale of each Component by Seriemas to Sentoria individually and separately under 4 different sale and purchase agreements (“DRA SPAs”) pursuant to the call option and put option granted under the DRA in respect of the 4 Components (“Proposed Development”),

 

 

 

(hereinafter collectively referred to as the “Proposals”).

 

 

 

The details of the announcement are set out in the attached file.

 

 

 

This announcement is dated 31 December 2012.