The Company is pleased to announce that its wholly-owned subsidiary, Trans Resources Corporation Sdn Bhd ("TRC") had on 18 May 2012 received the Letter of Acceptance from Mass Rapid Transit Corporation Sdn Bhd, in relation to the contract known "Package DPT1 : Construction and Completion of Sungai Buloh Maintenance Depot, Administration Building, External Works and Other Associated Works for Projek Mass Rapid Transit Lembah Kelang : Jajaran Sungai Buloh - Kajang (Contract No. : MRTCORP/KVMRT-SBK/ELE/DPT1/130)" for a contract sum of RM 458,980,000.00 ("the Project").

The Project will not have any effect on the issued and paid-up share capital, substantial shareholders' shareholdings, net assets per share and gearing of the Company and its subsidiaries ("TRC Group").

Barring unforeseen circumstances, the Board is of the opinion that the Project will contribute positively to the earnings and earnings per share of the TRC Group in the future.

None of the Directors of the Company, its substantial shareholders or person connected with Directors and substantial shareholders have any interest in the Project.

The Board, after having considered all aspects of the Letter of Acceptance is of the opinion that the Project is in the best interest of the TRC Group.

The Letter of Acceptance is available for inspection at the registered office of the Company during office hours from Monday to Friday at TRC Business Centre, Jalan Andaman Utama, 68000 Ampang, Selangor Darul Ehsan, Malaysia for a period of three (3) months from the date of this announcement.

This announcement is dated 18 May 2012.