We refer to the news article entitled “Titijaya may buy Penang land for RM126m”, which was featured in The Edge Financial Daily on 6 May 2014.

The Board of Directors of Titijaya wishes to confirm that the Company is exploring the possibility of acquiring a piece of land in Penang. The Company is in the midst of evaluating among others the development potential on the said land and the benefits which may be accrued to the Company as well as performing the necessary due diligence on the said land. If the development potential is positive and upon finalisation of the required documentations, more details in the form of a public announcement will be released by the Company in compliance with the disclosure requirements of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, in due course.

This announcement is dated 6 May 2014.