The Board of Oriental Explorer Holdings Limited announced that on 8 March 2024, Rich Return (an indirect wholly-owned subsidiary of the Company) entered into the Agreement with Securidon, Temokin and the JV Company in respect of the Joint Venture for engaging in the acquisition and development of the Land. The total maximum capital commitment of Rich Return in the JV Company is MYR 65,000,000 (equivalent to approximately HKD 106,022,000). Pursuant to the Agreement, the JV Company will be owned as to 49% by Rich Return, 30% by Securidon and 21% by Temokin respectively.

The JV Company will not be a subsidiary of the Company, and its financial results will not be consolidated into the consolidated financial statements of the Company. The Board announced that on 8 March 2024, Rich Return (an indirect wholly-owned subsidiary of the Company) entered into the Agreement with Securidon, Temokin and the JV Company in respect of the Joint Venture for engaging in the acquisition and development of the Land. The total maximum capital commitment of Rich Return in the JV Company is MYR 65,000,000 (equivalent to approximately HKD 106,022,000).

Pursuant to the Agreement, the JV Company will be owned as to 49% by Rich Return, 30% by Securidon and 21% by Temokin respectively. The JV Company will not be a subsidiary of the Company, and its financial results will not be consolidated into the consolidated financial statements of the Company.