Nexgram Land & Angkasa pursue other construction options, discontinued JDA with CACH. [18 Dec 2017]

18 December 2017 – Further to the announcement dated 6th December 2017, the Board of Directors of Nexgram Holdings Berhad wishes to further announce that its wholly-owned subsidiary Nexgram Land Sdn Bhd decided to discontinue with China Asian Capital Holdings Ltd (“CACH”), a company incorporated in Seychelles for the Joint Development Agreement (JDA) for the “ Angkasa Icon City”, the reasons are as follows:

1. The Agreement had lapsed on 18th August 2017.

2. Both parties had met 3 times to discuss on the project before deciding on the discontinuance. It is mainly due to not able to come to agreeable commercially viable terms.

This announcement dated 18th December 2017.