Reference is made to the letter from Bursa Malaysia Securities Berhad (“Bursa Securities”) dated 10 August 2020 pertaining to the sharp rise in price and volume of the shares of Titijaya Land Berhad (“Titijaya” or “Company”) recently (“trading activity”).  

After having made due enquiry with the Board of Directors (“Board”), major shareholders of the Company and such other relevant persons, our reply to the query by Bursa Securities are as follows:-

1.     Further to our announcement dated 29 April 2020 in respect of the signing of a strategic collaboration agreement with Sinopharm Medical Equipment QuanZhou Co. Ltd, a foreign company incorporated in The People’s Republic of China as collaborative partners to develop business in the marketing and sales, trading and supply of medical and hospital equipment and products and medical industry related real estate, we are in the midst of tabling our business expansion / diversification proposal to our Board in regards of healthcare products, including but not limited to glove supply. We are also in the midst of discussion with a local producer for the aforesaid supply.

In addition, we have on 9 June 2020 announced the signing of Strategic Collaboration Agreement with China SINOMACH Heavy Industry Corporation, a foreign company incorporated in The People’s Republic of China as collaborative partners regarding equipment for medical producing line and the construction and technology support (“SINOMACH Agreement”).

As at the date of this announcement, there is no material development pertaining to the SINOMACH Agreement. 

2.     Other than the above, the Board is not aware of any rumour or report concerning the business and affairs of Titijaya Group that may account for the trading activity;

3.     Other than the above, the Board is not aware of any other possible explanation to account for the trading activity; and

4.     We are in compliance with the Main Market Listing Requirements of Bursa Securities, in particular Paragraph 9.03 of the Main Market Listing Requirements on immediate disclosure obligations. We further undertake to make immediate announcement once our board has deliberated on our new plans of our business which will be tabled to our board in due course.

This announcement is dated 11 August 2020.