The Board of Directors of Maxim Global Berhad announced that its 70% owned subsidiary company, Blue Ocean Maxim Sdn Bhd (hereinafter referred to as “Blue Ocean” or “the Purchaser”), had on 29 January 2021 entered into Sale and Purchase Agreements (“SPA”) with Reka Jendela Development Sdn Bhd (“the Vendor”) to acquire a piece of leasehold land, measuring 24,530 sq meter (or 6.06 acres) in total area held under title PN 53663 Lot 481622, Mukim Kuala Lumpur, District of Kuala Lumpur in the State of Wilayah Persekutuan Kuala Lumpur (hereinafter referred to as “the Land”) on an “as is where is” basis, free from all and any encumbrances with vacant possession for a total purchase consideration of MYR 50,000,000.00 (“Purchase Consideration”) (“Proposed Land Acquisition”). Land tenure is 99 years lease expiring on 25 November 2117. Express condition is mixed development of commercial and residential only. Restrictions in interest is the land shall not be transferred, leased or charged without the approval of the "Jawatankuasa Kerja Tanah WP Kuala Lumpur".