The Board of Directors of Sarawak Consolidated Industries Berhad wishes to announce that its wholly-owned subsidiary, SCIB Concrete Manufacturing Sdn. Bhd ("SCM") had on 22 January 2019 entered into a Sale and Purchase Agreement with a related party, Zecon Land Sdn. Bhd. (“Zecon Land”) to purchase one (1) unit of the Four (4) Storey Shophouses described as Sublot 24 measuring approximately 459 square metres, more or less, in area (“the Shophouse”) in Vista Tunku (Phase One) together with the land on which the Shophouse is built for a purchase price of Ringgit Malaysia One Million Three Hundred Thousand (RM1,300,000) only at a discount of around 3% of the listed price to be satisfied by way of offsetting and settlement of outstanding amounts due and owing by Zecon Berhad to SCM ("Acquisition").

Further details pertaining to the Acquisition are set out in the file as attached.

This announcement is dated 22 January 2019.