Further to the announcement made on 20 January 2025, the Board of Directors of FBG Holdings Berhad ("FBG") wishes to announce that its wholly-owned subsidiary, FBG Land Sdn. Bhd. ("FBL"), has on 21 August 2026 written to Penang Development Corporation ("PDC") in relation to the Master Purchase and Development Agreement ("PDA") entered into between FBG, FBL and PDC for the proposed joint development project known as MediCity in Batu Kawan, Penang, to cease proceeding with the collaboration. FBG is proposing that the parties discuss an orderly conclusion of the existing collaboration under the PDA.
 

The discussions between FBL and PDC on the cessation are currently ongoing. The Company will make further announcement(s) as and when there is/are any material developments or upon the parties reaching agreement on the terms and conditions of the cessation.
 

This announcement is dated 21 August 2026