GRP LIMITED

(Company Registration No: 197701449C)

(Incorporated in the Republic of Singapore)

INCREASE IN SHAREHOLDING IN RUMAH KAMI SDN BHD

The Board of Directors (the "Board") of GRP Limited (the "Company" and together with its subsidiaries, the "Group") refers to the Company's announcements in relation to its investment in Rumah Kami Sdn Bhd ("Rumah Kami") dated 6 December 2019, 23 January 2020 and 4 December 2020 (collectively, the "Announcements"). The Company wishes to announce that the Company's indirect wholly-owned subsidiary, GRP Project Management Sdn Bhd ("GRP Project") has contributed an additional share capital of RM1,749,998 (approximately S$0.57 million) into Rumah Kami.

With this additional capital contribution, GRP Project holds 1,750,000 shares of RM1 per share and its equity interest in Rumah Kami has increased from 30% to 70%. This additional capital contribution is in accordance with the Addendum to the Shareholders Agreement dated 21 December 2020 entered into between GRP Project, Poly Radius Sdn Bhd, Greenery Majestic Sdn Bhd and Ecogale Sdn Bhd (the "Addendum"). As per the Addendum, the equity interests of Poly Radius Sdn Bhd, Greenery Majestic Sdn Bhd and Ecogale Sdn Bhd in Rumah Kami are 12.857%, 12.857% and 4.286% respectively.

Rumah Kami is an investment holding and real estate development company, and its wholly owned subsidiary, Ratus Nautika Sdn Bhd, had entered into a Joint Venture Development Agreement with Lembaga Perumahan Dan Hartanah to develop an affordable housing project, known as "Proposed Joint Venture Development in Special Program of Perwira Housing of Perak State" as announced by the Company on 4 December 2020.

The capital contribution is fully funded by internal resources and is not expected to have any material impact on the consolidated net tangible assets and earnings per share of the Company and the Group for the financial year ending 30 June 2022.

BY ORDER OF THE BOARD

Kwan Chee Seng

Executive Director

16 July 2021

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GRP Limited published this content on 16 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 July 2021 10:25:06 UTC.