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SBC COPRPORATION BERHAD INCORPORATION OF NEW SUBSIDIARIES 1.

INTRODUCTION The Board of Directors of SBC Corporation Berhad (SBC) wishes to announce that SBC, as a subscriber, had on 1st March, 2012 procured the incorporation of the following three companies by subscribing 7,000 ordinary shares of RM1.00 each at par for a total cash consideration of RM7,000 in each of the companies (a) (b) (c) PJX Car Parks Sdn. Bhd. (PJXCP); PJX Retail Sdn. Bhd. (PJXR); and PJX Commercial Sdn. Bhd. (PJXC)

(hereinafter, collectively referred to as the Subscriptions) As the result of the Subscriptions, PJXCP, PJXR and PJXC are now 70% owned subsidiaries of SBC. 2. INFORMATION ON NEW SUBSIDIARIES 2.1 PJXCP is a private limited company incorporated in Malaysia under Companies Act, 1965 on 1st March, 2012. It has an authorised capital of RM100,000 divided into 100,000 ordinary shares of RM1.00 each, of which 10,000 shares has been issued and fully paid-up. The intended principal activities of PJXCP are property investment and property management. The shareholding structure of the PJXCP is as follows Name of shareholders SBC H. M. Shahs Realty (Sdn) Berhad (HMSR) Total No. of shares held 7,000 3,000 10,000 Percentage shareholding (%) 70 30 100

The board of directors of PJXCP consists of 2 persons, namely (a) (b) 2.2 Sia Teong Heng, representing SBC; and Shahrum Ali Bin H.M. Shah, representing HMSR. PJXR is a private limited company incorporated in Malaysia under Companies Act, 1965 on 1st March, 2012. It has an authorised capital of RM100,000 divided into 100,000 ordinary shares of RM1.00 each, of which 10,000 shares has been issued and fully paid-up. The intended principal activities of PJXR are property investment and property management. -1-

The shareholding structure of PJXR is as follows Name of shareholders SBC HMSR Total No. of shares held 7,000 3,000 10,000 Percentage shareholding (%) 70 30 100

The board of directors of PJXR consists of 2 persons, namely (a) (b) 2.3 Sia Teong Heng, representing SBC; and Shahrum Ali Bin H.M. Shah, representing HMSR. PJXC is a private limited company incorporated in Malaysia under Companies Act, 1965 on 1st March, 2012. It has an authorised capital of RM100,000 divided into 100,000 ordinary shares of RM1.00 each, of which 10,000 shares has been issued and fully paid-up. The intended principal activity of PJXC is property management. The shareholding structure of PJXC is as follows Name of shareholders SBC HMSR Total No. of shares held 7,000 3,000 10,000 Percentage shareholding (%) 70 30 100

The board of directors of PJXC consists of 2 persons, namely (a) (b) 3. Sia Teong Heng, representing SBC; and Shahrum Ali Bin H.M. Shah, representing HMSR.

INFORMATION ON HMSR HMSR is a private limited company incorporated in Malaysia under the Companies Act, 1965 on 6th June, 1974. It has an authorised capital of RM3,000,000 divided into 3,000,000 ordinary shares of RM1.00 each, of which 1,200,000 shares have been issued and fully paid-up. The principal activities of HMSR are investment properties and investment holding.

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The directors of HMSR are Dato H.M. Shah, Shahrum Ali bin H.M. Shah, Dr. Kamal Ariffin bin Habib, Soraya bt Habib Shah @ Suraiya bt Habib and Omar Din bin Habib Shah. HMSR is a wholly-owned subsidiary of H.M. Shah Capital Sdn. Bhd. 4. SOURCE OF FUNDS The Subscriptions were financed via internal funds of the SBC Group. 5. RATIONALE FOR SUBSCRIPTIONS The Subscriptions are in line with the ordinary course of business of SBC Group which is in the property development and property management. 6. FINANCIAL EFFECTS (a) Share capital and substantial shareholders The Subscriptions will not have any effect on the share capital of SBC or its substantial shareholders. (b) On earnings, net assets and gearing The Subscriptions will not have any material effect on the earnings, net assets and gearing of SBC Group for the financial year ending 31st March, 2012. 7. APPROVAL The Subscriptions are not subject to SBC shareholders approval. 8. DIRECTORS AND MAJOR SHAREHOLDERS INTEREST None of the directors and major shareholders of SBC and its subsidiaries or persons connected to them, have any interest, direct or indirect, in the Subscriptions. 9. DIRECTORS OPINION The Board of Directors of SBC is of the opinion that the Subscriptions are in the long term interest of the SBC Group. 10. CERTIFICATE OF INCORPORATION OF PRIVATE COMPANY (FORM 9) The Forms 9 of PJXCP, PJXR and PJXC were collected from the Companies Commission of Malaysia on 2nd March, 2012. This announcement is dated 5th March, 2012 -3-