Attachment to Bursa

Announcement dated
16 February 2016

ATTA GLOBAL GROUP BERHAD (“ATTA” or “THE COMPANY”)

- PROPOSED ACQUISITION OF 55% EQUITY INTEREST IN TETAP GEMBIRA
DEVELOPMENT SDN. BHD. BY ATTA (“PROPOSED ACQUISITION”)

1. INTRODUCTION

The Board of Directors of the Company wishes to announce that on 16 February 2017,
the Company has entered into an Undertaking to subscribe for 1,237,500 ordinary
shares representing 55% equity interest in TETAP GEMBIRA DEVELOPMENT
SDN.BHD.(1038417-P) (“TG”) for a total consideration of RM6,187,500, resulting in TG
becoming a 55% owned subsidiary of ATTA .

(herein referred to as "Proposed Acquisition")

2. INFORMATION ON TETAP GEMBIRA DEVELOPMENT SDN. BHD. (“TG”)

Tetap Gembira Development Sdn. Bhd . (Company No.: 1038417-P) (“TG”), a company
incorporated in Malaysia with its registered office at No. 17-2-26, Bayan Point, Medan
Kampung Relau, 11900 Bayan Lepas and having a total paid up capital of RM1,000,000
consist of 1,000,000 fully paid ordinary shares. The principal activities of TG are that of
property development.

The Directors and the Shareholders of TG are as follows:

Name Director/Shareholder Ordinary Shares

Leong Ka Hon Director and Shareholder 500,000

Law Bee Jing Director and Shareholder 460,000
Andrew Elvis Simon Shareholder 40,000
Total Shareholding 1,000,000

Based on the latest Audited Financial Statement of TG as at 31 December 2015, the net
assets of TG is RM7,014,905.

TG is the legal owner of the land held under Title Nos. No. Lot 71113, Mukim 12, Daerah
Barat Daya, Penang held under Geran Mukim No.Hakmilik 3416 (“the said Property”).

The Vendor is the beneficial owner of the Property. Further information on the Property
are as follows:

Land area : 2,918 square metres

Restriction-in-interest : Nil
Existing use : Vacant Land
Tenure : Freehold
Value of the Land (Independent Valuer, RM11,000,000
Azmi & Co letter dated 22.11.2016)
Net book value as at 31 December 2015 : RM10,118,542
Encumbrances : vacant and charged to Malayan
Banking Berhad
 Attachment to Bursa
Announcement dated
16 February 2016

3. DETAILS OF THE PROPOSED ACQUISITION

a) Basis for arriving on the Purchase Considertaion

The total consideration of the Proposed Acquisition is RM RM6,187,500 (“Purchase

Price”) and was arrived at on a willing buyer willing seller basis and after taking into
consideration that the Property has been approved by Planning Department, Majlis
Bandaraya Pulau Pinang via their letter dated 22 September 2016 for proposed
development of a 23 storey building consists of combination of condominium and
office lot with public facilities and podium and the net assets of TG of approximately
RM687,501 based on its latest management accounts as at 31 December 2016.

b) Source of funds for Proposed Acquisition

The Purchase Price is to be satisfied by internally generated funds and or financing.

c) Liability

There is no liability to be assumed by the Company, including contingent and

guarantees arising from the Proposed Acquisition.

4. RATIONALE OF THE PROPOSED ACQUISITION

ATTA intends to venture into investment and development of properties and the
Proposed Acquisition will provide a platform to diversify into property development.

5. PROSPECTS OF THE PROPOSED ACQUISITION AND RISKS FACTOR

Prospects
ATTA is planning for a mixed development which consists of residential and
commercial on the said Land. The Board of Directors of ATTA believes that this is an
opportunity to enjoy the project potential yields, when it is launched and successfully
implemented.

At this juncture, the details of the development, including its feasibility report, name of
the project, type of development, total development value and cost, expected
commencement/completion dates, estimated additional financial commitment and
estimated profits to be derived, have yet to be finalized.

Risk Factor
The Proposed Acquisition is subject to risks inherent in the property development
business. Such risks may include competition from other property developers,
changes in economic and political conditions and any changes in the construction
costs.

Any changes in these conditions may have an effect on ATTA, which may in turn
affect the ATTA Group.
 Attachment to Bursa
Announcement dated
16 February 2016

6. THE FINANCIAL EFFECTS OF THE PROPOSED ACQUISITION

a) Share Capital and Substantial Shareholders’ Shareholdings

There is no effect on the issued and paid-up share capital of the Company and
the shareholdings of the substantial shareholders of the Company as the
Proposed Acquisition does not involve issuance of new ATTA shares.

b) Earnings per share

The Proposed Acquisition is not expected to have any material effect on ATTA's
consolidated earnings per share for the financial year ending 31 March 2017. The
Proposed Acquisition is expected to have positive effect on the future earnings of
the Group.

c) Net Assets per share

The Proposed Acquisition will not have any material effect on the consolidated
net assets of ATTA.

d) Gearing

The Proposed Acquisition will not have any material effect on the consolidated
gearing of ATTA.

7. APPROVAL REQUIRED

The Proposed Acquisition is not subject to the approval of shareholders of the

Company and other relevant governmental authorities.

8. DIRECTORS AND MAJOR SHAREHOLDERS’ INTEREST

None of the Directors, major shareholders and/or persons connected to them has
any interest, direct or indirect, in the Proposed Acquisition.

9. DIRECTORS’ STATEMENT

The Board of Directors of the Company, having considered all relevant aspects of the
Proposed Acquisition, is of the opinion that the Proposed Acquisition is in the best
interests of the Company and the Group.

10. ESTIMATED TIMEFRAME FOR COMPLETION

The Proposed Acquisition is estimated to be completed by end June 2017.

 Attachment to Bursa
Announcement dated
16 February 2016

11. HIGHEST PERCENTAGE RATIO APPLICABLE

The highest percentage ratio applicable to the Proposed Acquisition pursuant to

Paragraph 10.02(g) of the Main Market Listing Requirements of Bursa Malaysia
Securities Berhad is 13.87.

12. DOCUMENTS FOR INSPECTION

The UL is available for inspection at the registered office of ATTA at 55A Medan Ipoh
1A, Medan Ipoh Bistari, 31400 Ipoh, Perak during normal office hours from Mondays
to Fridays (except public holidays) for a period of 3 months from the date of this
announcement.

This announcement is dated 16 February 2017.