TWL Holdings Berhad (KLSE:TWL) entered into a Memorandum of Agreement to acquire 60% stake in Urban Masterpiece (KMN) Sdn Bhd and Dunia Sejahtera Sdn Bhd from MOHAMAD SHOHOR BIN MAHAMUD and WAN ABD HALIM BIN ABD MAJID on May 9, 2023. The Shares Sale Agreement to be negotiated. The transaction is subject to Condition precedent: Upon the execution of Memorandum of Agreement TWL shall pay MYR 0.05 million to MOHAMAD SHOHOR as refundable earnest deposit, MOHAMAD SHOHOR and WAN ABD HALIM BIN ABD shall forthwith procure the obtainment of the extension of time from LTAWNT in writing for the first instalment payment to be extended and be paid in December 2023, TWL Holdings and MOHAMAD SHOHOR and WAN ABD HALIM BIN ABD shall enter into a Shares Sale Agreement to acquire 60% stake in Urban Masterpiece (KMN) and Dunia Sejahtera, the earnest deposit sum of MYR 0.05 million shall be refunded forthwith to TWL in the event the parties could not enter into the Shares Sale Agreement within thirty days from the date of memorandum of agreement and TWL Holdings and MOHAMAD SHOHOR and WAN ABD HALIM BIN ABD shall further negotiate on the terms and conditions to enter into a Sale and Purchase agreement to sell the hospital building and all other terms and conditions as may be agreed and acceptable to the parties from time to time.

The memorandum of agreement is not subject to the approval of the shareholders of TWL or any relevant authorities.