Pursuant to paragraph 9.19(24) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Titijaya wishes to announce that the Company had, on 22 December 2016, disposed of 175,000 ordinary shares of RM1.00 each, representing 70% of the issued and paid-up share capital of Premsdale Development Sdn. Bhd. (Company No. 1121985-U) ("Premsdale Development") (“Sale Shares”) to Y.A.D. Tan Sri Syed Mohd Yusof Bin Tun Syed Nasir (“Tan Sri Syed”), the Director of the Company, at a total consideration of RM175,000 only (“Disposal”).

Following the above Disposal, Premsdale Development ceased to be a wholly-owned subsidiary of Titijaya.

Please refer to the attachment for additional information.

This announcement is dated 22 December 2016.