Memorandum of Understanding to Develop a Condominium and Hotel in Kota Kinabalu

Further to our announcement on 29 January 2008 on the execution of the Memorandum of Understanding between IJM Properties Sdn Bhd and Suria Capital Holdings Berhad, we wish to announce that negotiations on the terms of the joint venture for the development of a 16-storey condominium and 11-storey boutique hotel in Kota Kinabalu, Sabah are still in progress.