Document:

Exhibit 10.1

 

SALES
AND PURCHASE AGREEMENT

 

THIS AGREEMENT is made this 2nd
day of August in the year 2012

 

Between

 

CMY ASSETS SDN BHD (formerly known
as WATERFRONT ASSETS SDN BHD) (Company No. 224670-U), a company incorporated in Malaysia and having its address at 79, Jalan
Bangkung, Bukit Bandaraya, 59100 Kuala Lumpur (hereinafter called the “Vendor”) of the one part

 

And 

 

PGCG ASSETS HOLDINGS SDN BHD (Company
No. 983271-U), a company incorporated in Malaysia and having its address at No. 11-2, Jalan 26/70A, Desa Hartamas, 50480 Kuala
Lumpur (hereinafter called the “Purchaser”) of the other part.

 

WHEREAS: -

 

		A.	Property: The Vendor is the registered and beneficial proprietor of all that piece
of land held under Geran 10010, Lot 238 Section 43, Town and District of Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur
(hereinafter called the “Individual Title”) measuring in area of approximately 2,138 square metres together
with a fifteen (15) storey commercial office building and an annexe two storey podium block with a basement level car park and
bearing a postal address known as Menara CMY, No. 160, Jalan Ampang, 50450 Kuala Lumpur (hereinafter collectively called
the “Property”).
	 	 	 

		B.	Charge: The Property is at present subject to a charge vide Presentation No. 5759/2006
(hereinafter called the “Charge”) registered in favour of ALLIANCE ISLAMIC BANK MALAYSIA BERHAD (Company
No. 88103-W) of 3rd Floor, Menara Multi-Purpose, Capital Square, No. 8, Jalan Munshi Abdullah, 50100 Kuala Lumpur
(hereinafter called the “Chargee”).
	 	 	 

		C.	Loan: The Purchaser may apply to a financial institution (hereinafter called the
“Purchaser’s Financier”) for a loan on the security of a charge over the Property (hereinafter called
the “Purchasers’ Financier’s Charge”) to enable them to complete the purchase of the Property (hereinafter
called the “Loan”).
	 	 	 

		D.	Agreement: The Vendor has agreed to sell and the Purchaser has agreed to purchase
the Property which shall include the fixtures and fittings existing on the Property on an “as is where is” basis as
at the date of this Agreement free from all encumbrances and with vacant possession upon the terms and subject to the conditions
hereinafter appearing.
	 	 	 

		E.	Vendor’s Solicitors: The Vendor is represented by Messrs Teh & Lee of
A-3-3 & A-3-4, Northpoint Offices, Mid Valley City, No. 1, Medan Syed Putra Utara, 59200 Kuala Lumpur (hereinafter called the
“Vendor’s Solicitors”).
	 	 	 

		F.	Purchaser’s Solicitors: The Purchaser is represented by Messrs C.W. Chan
& Co of No. 6-3A, Jalan Pandan 2/5, Pandan Jaya, 55100 Kuala Lumpur (hereinafter called the “Purchaser’s
Solicitors”).
	 	 	 

 

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NOW THIS AGREEMENT WITNESSETH as follows:
-

 

	1.	CONSIDERATION

 

		1.1	Purchase Price: The Vendor hereby agrees to sell and the Purchaser hereby agrees
to purchase the Property which shall include the fixtures and fittings existing on the Property as on an “as is where is”
basis as at the date of this Agreement free from all claims, charges, liens and encumbrances whatsoever and with vacant possession
and the conditions and restrictions in interest (if any) affecting the Individual Title at the total purchase price of Ringgit
Malaysia Eighty One Million and Five Hundred Thousand (RM81,500,000.00) only (hereinafter called the “Purchase Price”).

 

	2.	SATISFACTION

 

		2.1	Time and Manner of Payment: The Purchaser shall pay the Purchase Price in the following
manner: -
	 	 	 

		2.1.1	a sum of Ringgit Malaysia One Million Six Hundred Thirty Thousand (RM1,630,000.00) only,
being earnest deposit and as part payment of the Purchase Price (hereinafter called the “Earnest Deposit”),
already paid by the Purchaser prior to execution of this Agreement herein to the Vendor (the receipt of which the Vendors hereby
acknowledge);
	 	 	 

		2.1.2	a further sum of Ringgit Malaysia Six Million Five Hundred Twenty Thousand (RM6,520,000.00)
only, being the balance of the deposit and as part payment of the Purchase Price (hereinafter called as the “Balance
Deposit”), shall be paid by the Purchaser to the Vendor upon execution of this Agreement. The Earnest Deposit and Balance
Deposit shall collectively be referred as the “Deposit”; and
	 	 	 

		2.1.3	the balance of the Purchase Price of Ringgit Malaysia Seventy Three Million Three Hundred Fifty
Thousand (RM73,350,000.00) only (hereinafter called the “Balance Purchase Price”) payable directly to the
Vendor shall be deposited with the Vendor’s Solicitors as stakeholders on or before the expiry of Four (4) months
from the date of this Agreement (hereinafter called the “Completion Period”) and shall be released to the Vendor
in accordance with the terms and conditions herein stated.
	 	 	 

		2.2	Extended Completion Period: In the event the Purchaser fails to pay the Balance Purchase
Price within the Completion Period, the Completion Period shall be automatically extended for a further period of One (1) month
(hereinafter called the “Extended Completion Period”) PROVIDED ALWAYS that the Purchaser shall pay to
the Vendor a late payment interest of Eight per centum (8%) per annum on the outstanding balance of the Purchase Price to
be calculated on a daily basis for the actual number of days of extension and such interest shall not be construed as liquidated
damages.
	 	 	 

		2.3	Completion Date: It is hereby agreed that the completion of this Agreement shall
fall on the date of actual receipt of the Purchase Price and any late payment interest in full by the Vendor (hereinafter called
the “Completion Date”).
	 	 	 

 

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	3.	ADJUDICATION & PRESENTATION OF THE MEMORANDUM OF TRANSFER

     

		3.1	Transfer Documents: As soon as practicable after execution of this Agreement, the
Vendor or the Vendor’s Solicitors, as the case may be, shall deposit with the Purchaser’s Solicitors as stakeholders
the following documents: -
	 	 	 

		3.1.1	a copy of the Individual Title to the Property;
	 	 	 
	 	3.1.2	a
certified true copy each of the Vendor’s Memorandum and Articles of Association, Form 24, Form 44 and Form 49;
	 	 	 

		3.1.3	a certified true copy of the directors’ resolution from the Vendor, authorising the Vendor
to sell the Property to the Purchaser
	 	 	 

		3.1.4	a valid and registrable but unstamped memorandum of transfer (hereinafter called the “MOT”)
in Form 14A of the National Land Code or such other prescribed statutory form in respect of the Property, duly completed
and executed by the Vendor in favour of the Purchaser; and
	 	 	 

		3.1.5	a certified true copy of the current year quit rent receipt;
	 	 	 

		3.1.6	a certified true copy of the current period assessment receipt;
	 	 	 

		3.1.7	the plans, drawings and documents more particularly set out in Schedule A;
	 	 	 

		3.1.8	certified true copy each of the Vendor’s signatories identity card;
	 	 	 

		3.1.9	certified true copy of the Vendor’s Members Resolution authorizing the sale of the Property
to the Purchaser; and
	 	 	 

		3.1.10	Vendor’s corporate income tax file reference number.
	 	 	 

The above said documents set
out in sub-Clauses 3.1.2 to 3.1.6 together with the original Individual Title shall be referred to as the “Transfer
Documents”.

 

		3.2	Adjudication: The Purchaser’s Solicitors shall as soon as practicable from
the date of this Agreement submit the MOT to the relevant stamp duty authority for the adjudication of the stamp duty payable to
facilitate the registration of the MOT in favour of the Purchaser. The Purchaser shall on receipt of the notice of adjudication
of the MOT from the stamp office, forthwith pay the amount of stamp duty adjudicated.
	 	 	 

		3.3	Presentation of the MOT: The Purchaser’s Solicitors or the Purchaser’s
Financier’s Solicitors, as the case may be, shall within Three (3) Business Days of receipt of the Transfer Documents
(or if the MOT has not then been stamped, as soon as the MOT has been stamped), cause the MOT and the Purchaser’s Financier’s
Charge in favour of the Purchaser’s Financier to be presented at the relevant land registry for registration in favour of
the Purchaser and the Purchaser’s Financier and shall inform the Parties hereto of the date of such presentation.
	 	 	 

	3A.	PURCHASER’ S DOCUMENTS

 

		3A.1	Purchaser’s Documents: As soon as practicable after execution of this Agreement,
the Purchaser or the Purchaser’s Solicitors, as the case may be, shall deposit with the Vendor’s Solicitors the following
documents: -
	 	 	 

		3A.1	a certified true copy of the Purchaser’s Memorandum and Articles of Association, Form 24,
Form 44 and Form 49;
	 	 	 
	 	3A.2	a
certified true copy of the directors’ resolution from the Purchaser, authorising the Purchaser to acquire the Property from
the Vendor;

 

 

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	 	3A.3	a
certified true copy of the Purchaser’s Members Resolution authorizing the acquisition of the Property by the Purchaser;
	 	 	 
		3A.4	certified true copy each of the Purchaser’s signatories’ identity card; and
	 	 	 

		3A.5	Purchaser’s corporate income tax file reference number

	 	 	 

	4.	PURCHASER’ S FINANCIER & REDEMPTION OF THE PROPERTY

     

		4.1	Purchaser’s Financier: In the event that the Purchaser requires financial assistance
in the completion of the purchase of the Property, the following shall apply: -
	 	 	 

		4.1.1	Release of Documents: the Vendor hereby agrees and authorizes the Purchaser’s
Solicitors to release the Transfer Documents to the Purchaser’s Financier or the Purchaser’s Financier’s solicitors
to enable the MOT and the Purchaser’s Financier ‘s Charge to be registered to facilitate the release of the Loan PROVIDED
ALWAYS that the difference between the Loan and the Balance Purchase Price (hereinafter called the “Differential Sum”)
shall be firstly paid to the Vendor’s Solicitors as stakeholders who shall only release the same to the Vendor together with
the Balance Purchase Price in accordance with Clause 5.1.2 of this Agreement AND the Purchaser’s Financier has deposited
with the Vendor’s Solicitors the Purchaser’s Financier’s Undertaking.
	 	 	 

		4.1.2	Undertaking to Refund: Upon the receipt of the Purchaser’s Financier’s
Undertaking, the Vendor shall within Fourteen (14) days thereof provide an undertaking to the Purchaser’s Financier
to refund the Loan in the event that the transfer in favour of the Purchaser cannot be registered for any reason whatsoever (hereinafter
called the “Vendor’s Undertaking”). Any period of delay from the said Fourteen (14) days to the
day the Purchaser’s Solicitors or the Purchaser’s Financier receipt of the said Vendor’s Undertaking shall not
be taken into account in the computation of the Completion Period or the Extended Completion Period and no late payment interest
pursuant to Clause 2.2 shall be payable Provided That the Differential Sum shall be firstly paid to the Vendor’s Solicitors
as stakeholders.
	 	 	 

		4.2	Purchaser’s Financier’s Undertaking: It is hereby agreed between the
Parties that the Purchaser shall as soon as practicable after the date of this Agreement procure the Purchaser’s Financier
to issue an irrevocable and unconditional undertaking in writing addressed to the Vendor whereby the Purchaser’s Financier
shall undertake to pay the Vendor the Loan towards the payment of the Balance Purchase Price upon presentation of the transfer
documents to relevant land authority/office for registration (hereinafter called the “Purchaser’s Financier’s
Undertaking”).
	 	 	 

		4.3	Redemption Statement: The Vendor shall cause the Chargee to forward to the Purchaser’s
Financier’ solicitors a redemption statement cum undertaking in favour of the Purchaser’s Financier (hereinafter called
the “Redemption Statement cum Undertaking”) within Fourteen (14) days from the date of receipt of the
original written request by the Vendor from the Purchaser’s Solicitors or the Purchaser’s Financier’s Solicitors,
as the case may be, requesting for the Redemption Statement cum Undertaking and notifying the loan sum and the name and address
of the branch of the Purchaser’s Financier PROVIDED ALWAYS that the Vendor shall have received the original
Purchaser’s Financier’s Undertaking and the Differential Sum. Any period of delay from the said Fourteen (14) days
to the day the Purchaser’s Solicitors or the Purchaser’s Financier Solicitors receipt of the said Redemption Statement
cum Undertaking shall not be taken into account in the computation of the Completion Period or the Extended Completion Period and
late payment interest shall not be chargeable for this period of delay.
	 	 	 

 

 

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		4.4	Security Documents: The Vendor’s Solicitors shall within Twenty One (21)
days of the Chargee or the Vendor’s Solicitors receipt of the redemption sum forward
the duly executed discharge of charge and duplicate charge (hereinafter called the “Security Documents”) and
the original Individual Title to the Property that are in the possession of the Chargee or the Vendor’s Solicitors to
the Purchaser’s Solicitors or the Purchaser’s Financier’s Solicitors PROVIDED that the Differential Sum has been
received by the Vendor or the Vendor’s Solicitors. Any period of delay from the said Twenty One (21) days to the day
of actual receipt by the Purchaser’s Solicitors or the Purchaser’s Financier Solicitors of the Security Documents shall
not be taken into account in the computation of the Completion Period or the Extended Completion Period and late payment interest
shall not be chargeable for this period of delay.

 

	5.	UTILISATION & RELEASE OF THE BALANCE PURCHASE PRICE

 

		5.1	Utilisation and Release of the Balance Purchase Price: The
                     Vendor’s Solicitors are hereby authorized to utilise the Balance Purchase Price or parts thereof in
                     the following manner: -

 

		5.1.1	pay all outstanding applicable quit rent, assessment, rates, taxes and other outgoings payable
in respect of the Property; and
	 	 	 

		5.1.2	the Balance Purchase Price less such sums paid under Clause 5.1.1, shall be released by
the Vendor’s Solicitors to the Vendor on or after Three (3) Business days from the date the MOT has been presented
for registration.
	 	 	 

	6.	DELIVERY OF VACANT POSSESSION

 

		6.1	Delivery of Vacant Possession: Vacant possession of the Property shall be delivered
by the Vendor to the Purchaser within Five (5) Business Days from the Vendor’s receipt of the full Balance
Purchase Price together with the late payment interest (if any). In the event the Vendor delays delivery of vacant possession to
the Purchaser, the Vendor shall pay to the Purchaser interest at Eight per centum (8%) per annum on the full Purchase Price
calculated on a daily basis from the day vacant possession ought to be delivered to the date of actual delivery of vacant possession.
Provided Always That if delivery of vacant possession is delayed due to the Purchaser’s failure or delay to pay any late
payment interest and/or due to the failure of the Purchaser to accept vacant possession for any manner whatsoever (unless due to
the fault of the Vendor), then the Vendor’s Solicitors are authorised to release the Balance Purchase Price to the Vendor
upon the Vendor delivering the keys of the Property to the Vendor’s Solicitors as stakeholders with authority to the Vendor’s
Solicitors to release the keys to the Purchaser only upon full settlement by the Purchaser of any late payment interest. The actual
day on which vacant possession is delivered to the Purchaser shall be referred to as the “Date of Vacant Possession”.
	 	 	 

		6.2	Passing of Risks: Risk to the Property shall pass to the Purchaser only on the Date
of Vacant Possession. In the event the said Property is before delivery of vacant possession substantially destroyed or damaged
by fire which is beyond the control of the Vendor (except where such fire has been caused by the fault of the Purchaser and/or
its agents) so as to be totally unfit for use and the Vendor is unable to rectify or restore the damage within a period of sixty
(60) days from the date of destruction and/or damage, whereupon interest on late delivery of vacant possession pursuant to Clause
6.1 shall not apply, then the Purchaser may by notice in writing to the Vendor or the Vendor’s Solicitors terminate this
Agreement whereupon the Vendor shall within twenty one (21) days of the receipt of such notice refund to the Purchaser all monies
paid under this Agreement. In the event the Vendor fails to refund the said monies within the said twenty one (21) days, the Vendor
shall pay interest at the rate of 8% per annum calculated on a daily basis on the sums to be refunded from the day the refund ought
to be refunded to the actual day of refund.

 

 

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		6.3	Condition of Building and Systems: Prior to the execution of this Agreement the Purchaser
had carried out due diligence on the said Property including but not limited to a building inspection. The Vendor agrees to at
its own cost and expenses, carry out the necessary repairs to rectify those defects which are stated in Page 23 of the Building
Inspection Report as at July 2012 prepared by KPH Property Management Services Sdn Bhd which has been reproduce as Schedule B hereof.
The Vendor also agrees that the centralised air conditioning system water treatment system, low voltage intake system, fire prevention
and/or fighting system, lifts and closed circuit television system will be in working condition and
the water leak into podium first floor and roof top will be rectified upon the delivery of vacant
possession. The warranty on the waterproof membrane on the roof of the podium held by the Vendor shall be assigned in favour of
the Purchaser upon vacant possession provided it is valid, subsisting and capable of assignment.
	 	 	 

	7.	PURCHASER’S DEFAULT

 

		7.1	Purchaser’s Default: If the Purchaser shall fail to pay the Purchase Price
as provided in Clause 2 or fail to perform any of its undertakings covenants and warranties on its part herein to be performed,
the Vendor shall be entitled to take action for specific performance of this Agreement at the cost and expense of the Purchaser
and/or at the Vendor’s sole discretion to terminate this Agreement at any time thereafter. Upon such termination, the Vendor
shall forfeit the Deposit together with any accrued interest as agreed liquidated damages and refund all other sums (if any) paid
by the Purchaser towards the Purchase Price free of interest within Fourteen (14) days of such termination. The Purchaser
shall at its own costs and expenses (i) to re-deliver vacant possession of the Property in original condition to the Vendor (if
the same has been delivered to the Purchaser); (ii) to withdraw all caveats lodged by or on behalf of the Purchaser and/or the
Purchaser’s Financier and to forward proof of the withdrawal to the Vendor’s Solicitors, failing which the Purchaser
shall indemnify the Vendor for damages, loss and expenses incurred by the Vendor for the removal of these caveats; and (iii) to
return the Transfer Documents and the Security Documents to the Vendor with the Vendor’s interest intact (Provided Always
that if the MOT has already been adjudicated and stamped then the Purchaser’s Solicitors shall surrender the MOT to the stamp
office for cancellation and refund of the stamp duty paid by the Purchaser and thereafter returned the MOT duly cancelled by the
stamp office to the Vendor’s Solicitors) whereupon this Agreement shall terminate and be of no further effect and neither
parties hereto shall have any claim against the other except for any antecedent breach and thereafter the Vendor shall be at liberty
to deal with the Property in such manner as the Vendor shall think fit.
	 	 	 

	8.	VENDOR’S DEFAULT

 

		8.1	Vendor’s Default: In the event the Vendor fails to complete the sale as set
out herein, the Purchaser shall be entitled to terminate this Agreement and to claim an amount equivalent to the Deposit as agreed
liquidated damages from the Vendor. In respect of the termination, the following provisions shall further apply:-
	 	 	 

	 	8.11	the Vendor shall refund to the Purchaser the Purchase Price or any part thereof which has been paid to the Vendor or
the Vendor’s Solicitors free of interest within Twenty One (21) days after receipt of a notice terminating this Agreement.
In the event of any delay in the refund as stated herein, the Vendor shall pay interest at the rate of Eight per centum (8%)
per annum on the amount to be refunded calculated on a daily basis from the day this refund ought to be made to the day of
actual refund; and
	 	 	 
	 	8.12	in
exchange for such refund, the Purchaser shall at its own costs and expenses (i) to re-deliver vacant possession of the Property
in original condition to the Vendor (if the same has been delivered to the Purchaser); (ii) to withdraw all caveats lodged by or
on behalf of the Purchaser and/or the Purchaser’s Financier and to forward proof of the withdrawal to the Vendor’s
Solicitors, failing which the Purchaser shall indemnify the Vendor for damages, loss and expenses incurred by the Vendor for the
removal of these caveats; and (iii) to return the Transfer Documents and the Security Documents to the Vendor with the Vendor’s
interest intact (Provided Always that if the MOT has already been adjudicated and stamped then the Purchaser’s Solicitors
shall surrender the MOT to the stamp office for cancellation and refund of the stamp duty paid by the Purchaser and thereafter
returned the MOT duly cancelled by the stamp office to the Vendor’s Solicitors) whereupon this Agreement shall terminate
and be of no further effect and neither parties hereto shall have any claim against the other and thereafter the Vendor shall be
at liberty to deal the Property in such manner as the Vendor shall think fit.

 

 

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		8.2	In the alternative, the Purchaser shall be entitled to sue for specific performance of this Agreement
and the cost thereof shall be borne by the Vendor.
	 	 	 

	9.	REAL PROPERTY GAINS TAX 

     

		9.1	Submission of RPGT: The Vendor and the Purchaser hereby expressly agree, covenant
and undertake with one another that each of them shall severally cause to be submitted to the Director-General of Inland Revenue
Board within Sixty (60) days from the date of this Agreement, all documents or instruments or returns in the prescribed
form and furnish and supply all information as may be necessary under the provisions of the Real Property Gains Tax Act, 1976 (as
amended) (hereinafter called the “RPGT Act”) in order to procure, obtain or secure the relevant certificate
of clearance/exemption from the proper authority in connection with the sale and purchase herein.
	 	 	 

		9.2	Undertaking to Pay RPGT: The Vendor hereby undertakes to pay real property gains
tax in respect of the disposal of the Property (if any) as may be required under the Act and undertakes to indemnify the Purchaser
for any losses and damages suffered by the Purchaser from the Vendor’s failure to do so.
	 	 	 

	10.	APPORTIONMENT OF OUTGOINGS

 

		10.1	Apportionment: All quit rents, rates, taxes, assessments and other outgoings (if
any) payable in respect of the Property shall be apportioned between the parties hereto as at the Date of Vacant Possession.
	 	 	 

		10.2	Change of Name: The Purchaser shall as soon as possible and in any event not later
than Thirty (30) days from the Date of Vacant Possession attend to matters relating to the transfer of any supplies such
as water and electricity provided or any taxes or assessments to the Property to the Purchaser’s name. Should the Purchaser
not attend to the change of name, the Vendor shall be indemnified against all charges or default of payment in respect of all quit
rent, assessment rates, taxes, water, electricity, sewerage and all other outgoings as herein stated from the Date of Vacant Possession.
In the event the Vendor assisted the Purchaser in name transferring as stated herein, any cost incurred shall be borne by the Purchaser.
The parties hereby confirm that the respective solicitors shall hold no responsibility for the compliance of such arrangement.
	 	 	 

	11.	COMPULSORY ACQUISITION

 

		11.1	Compulsory Acquisition: In the event the Vendor shall receive any notice of any intended
compulsory acquisition of the whole or part of the Property by the Government or other Competent Authority prior to the Completion
Date, the Vendor shall forthwith notify the Purchaser in writing of such intended acquisition whereupon, the Purchaser shall within
Ten (10) days from the Vendor’s notification of the same, have the right to elect either to complete the purchase
of the Property or to terminate this Agreement, whereby: -
	 	 	 

		11.1.1	Election to Terminate: in the event that the Purchaser shall elect to terminate this
Agreement, the Purchaser shall notify the Vendor by a written notice to the Vendor whereupon the provisions of Clause 16
shall apply mutatis mutandis;

 

 

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		11.1.2	Election to Complete: in the event that the Purchaser shall elect to complete the
purchase of the Property notwithstanding any acquisition of any part thereof this sale and purchase transaction shall be completed
in accordance with the provisions hereof and the Vendor shall render all reasonable assistance and produce such relevant documents
at any enquiries reasonably held by acquiring authorities to enable the Purchaser to obtain maximum compensation. In the event
any compensation sum is paid to the Vendor, the same shall forthwith be forwarded to the Purchaser.
	 	 	 

	12.	WARRANTIES

 

		12.1	Vendor’s Warranties:
                                                            The Vendor hereby warrants to the Purchaser that: -

 

		(a)	all quit rent, rates, assessments, taxes, sewage bills and other outgoings, if any, payable in
respect of the Property shall be paid and kept up to date upon the completion of this Agreement;
	 	 	 

		(b)	a certificate of fitness of occupation has been issued by the relevant authorities for the building
erected on the Property;
	 	 	 

		(c)	that as at the date hereof, the Vendor has not been served with any notice of acquisition of the
whole or part of the Property by the Government or other Competent Authority;
	 	 	 

		(d)	the Vendor has the legal capacity to enter into this Agreement;
	 	 	 

		(e)	the statements contained in the recitals hereto are true and correct;
	 	 	 

		(f)	that the Property is insured against fire damage up to an insured amount of RM36,500,000.00 only
throughout the duration of this Agreement and that in the event of fire outbreak, and the Purchaser elects to continue with this
Agreement without any adjustment on the Purchase Price, the compensation paid out by the insurance company shall inure in the favour
of the Purchaser;
	 	 	 

		(g)	that it shall not during the duration of this Agreement enter into any other tenancy agreements
in respect of the Property or any part thereof without prior consent of the Purchaser;
	 	 	 

		(h)	it is not aware of any outstanding notices of any relevant government authority adversely affecting
the Property or road access to the Property up to the date of this Agreement; and
	 	 	 

		(i)	there are no other encumbrances or any third party interests to the Property apart from that as
stated in Recital B.

 

		12.2	Purchaser’s Warranties: The Purchaser hereby represents and warrants and undertakes
to the Vendor as follows: -

 

		(a)	that the Purchaser is not aware of any litigation, arbitration or administration proceedings presently
current, pending or threatened against the Purchaser as the case may be, which may affect in any way the Purchaser’s ability
to perform its obligations under this Agreement or frustrate the completion of the transaction hereunder;
	 	 	 

		(b)	that there is no winding up proceeding been initiated or pending against the Purchaser;
	 	 	 

		(c)	the Purchaser has the legal and beneficial right and full power to execute, deliver and perform
the terms and conditions of this Agreement;
	 	 	 

		(d)	the statements contained in the recitals hereto are true and correct and form the basis of this
Agreement;

 

 

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		(e)	that the Purchaser shall indemnify the Vendor and its successors-in-title and assigns for any loss
or damage, including, without limitation, attorney’s fees reasonably incurred arising out of any misrepresentation, breach
or non-fulfilment of any obligation of the Purchaser under this Agreement;
	 	 	 

		(f)	the Purchaser hereby irrevocably agrees to indemnify and shall keep the Vendor indemnified against
all loss, damage, fines, penalties arising from the Purchaser’s failure and/or late payment of the outgoings after the Date
of Vacant Possession; and
	 	 	 

		(g)	that this Agreement constitutes legal, valid and binding obligations of the Purchaser and are enforceable
in accordance with their respective terms.
	 	 	 

		12.2	Remedy: It is hereby agreed that in the event there is a breach of warranty by either
Party hereof, the defaulting Party shall rectify such breach, within Thirty (30) days of notification of the same failing
which the innocent Party shall be entitled to terminate this Agreement and upon such termination the provisions of Clause 7
or 8 hereof shall be applicable.
	 	 	 
	 	12.3	Subsistence: Notwithstanding the completion of this
                            Agreement, the warranties, undertakings and agreements herein contained shall continue to subsist
                            for as long as the same are applicable up to a maximum of one (1) year from Completion Date.

 

	13.	ACCESS AND INFORMATION

 

		13.1	Access and Information: The Vendor hereby agrees and warrants that it shall give
to the Purchaser or its duly authorised agents, representatives or professional advisor full access during normal business hours
to inspect the Property and all such information and documents relating to the Property as the Purchaser may reasonably request.
In the event that this Agreement is terminated, the Purchaser will keep and cause its agents, representatives, or professional
advisor to keep confidential any information (unless readily ascertainable from public information or sources or otherwise required
by laws to be disclosed) obtained from the Vendor in connection with this Agreement and will promptly return to the Vendor all
documents and other written materials so obtained.
	 	 	 

	14.	ENTRY OF PRIVATE CAVEAT

 

		14.1	Entry of Private Caveat: The Purchaser shall be entitled to lodge a private caveat
on the Property PROVIDED ALWAYS that the Purchaser shall forthwith immediately withdraw such private caveat and render a
receipt of such withdrawal to the Vendor’s Solicitors at its own cost and expense in the event this Agreement is lawfully
terminated as provided herein. The Purchaser shall indemnify and keep indemnified the Vendor against all cost and expenses incurred
in the removal such private caveat.
	 	 	 

	15.	DEFAULT INTEREST

 

		15.1	Default Interest: Without prejudice to any other right and/or remedy exercisable
by either party hereto for the default of the other party, if any party hereto fails to pay any sum herein agreed to be paid within
the time period stipulated in this Agreement, the agreed interest at the rate of Eight per centum (8%) per annum (hereinafter
called the “Default Rate”) on daily rests will be payable by the defaulting party on such sum from the date
of expiry of such stipulated period until the date of payment of such sum.
	 	 	 

 

 

 

    	9

    	 	

    
 

	16.	TRANSFER NOT REGISTRABLE 

 

		16.1	Non registration: In the event that the MOT in respect of the Property cannot be
registered in the name of the Purchaser free from all encumbrances for any reason whatsoever not due to fault on the part of the
Parties which may be rectified by the Vendor and/or the Purchaser, the Purchaser shall be entitled to terminate this Agreement
by giving a written notice of termination to the Vendor or the Vendor’s Solicitors and: -
	 	 	 

		(a)	thereupon the Vendor shall within Twenty One (21) days from the date of the aforesaid notice
of termination refund the Deposit and all monies (if any) paid towards the Purchase Price free from interest paid by the Purchaser
under this Agreement. In the event the Vendor fails to make refund of the abovesaid monies to the Purchaser within the said Twenty
One (21) days, the Vendor shall pay interest at the rate of Eight per centum (8%) per annum on the said sums from the
expiry of the said Twenty One (21) days to the day of actual refund is made to the Purchaser;
	 	 	 

		(b)	in exchange for such refund, the Purchaser shall at its own costs and expenses (i) to re-deliver
vacant possession of the Property in original condition to the Vendor (if the same has been delivered to the Purchaser); (ii) to
withdraw all caveats lodged by or on behalf of the Purchaser and/or the Purchaser’s Financier and to forward proof of the
withdrawal to the Vendor’s Solicitors, failing which the Purchaser shall indemnify the Vendor for damages, loss and expenses
incurred by the Vendor for the removal of these caveats; and (iii) to return the Transfer Documents and the Security Documents
to the Vendor with the Vendor’s interest intact (Provided Always that if the MOT has already been adjudicated and stamped
then the Purchaser’s Solicitors shall surrender the MOT to the stamp office for cancellation and refund of the stamp duty
paid by the Purchaser and thereafter returned the MOT duly cancelled by the stamp office to the Vendor’s Solicitors;
	 	 	 

		(c)	this Agreement shall be null and void and shall be of no legal effect and neither party hereto
shall have any claims against the other except for any antecedent breach and thereafter the Vendor shall be at liberty to deal
with the Property in such manner as the Vendor shall think fit.
	 	 	 

	17.	TIME OF THE ESSENCE

 

		17.1	Time: Time wherever mentioned herein shall be of the essence of this agreement.

 

	18.	COSTS

 

		18.1	Costs: Each party hereto shall bear and pay for his own solicitors’ costs of
and incidental to the preparation and execution of this Agreement. The MOT, the adjudication fee, stamp duty and registration fees
in respect thereof shall be borne and paid by the Purchaser. All costs and fees pertaining to the discharge of charge, if any,
shall be paid by the Vendor.
	 	 	 

		18.2	Default Costs: If this Agreement shall be required to be enforced through any process
of law, the party in default shall pay the other party’s solicitors’ fees (on a solicitor and client basis) and any
other fees and expenses incurred in respect of such legal proceedings.
	 	 	 

	19.	NOTICE

 

		19.1	Notices: Any notice, request or demand required to be served by either party hereto
on the other under any of the provisions hereof shall be in writing and shall be deemed to be sufficiently served or made as follows:
	 	 	 

		(a)	if sent by facsimile or electronic mail when it ought in the ordinary course to have been received
by the party to whom it is intended;

 

 

    	10

    	 	

    
 

	 	 	 

		(b)	if sent by post Four (4) days after it is posted; and
	 	 	 

		(c)	if delivered by hand to the party to be served or its solicitors when receipt of the same is acknowledged
by the party to be served or its solicitors on the duplicate of the same.
	 	 	 

		19.2	Addresses: Any notice, request, consent, demand or other communication to be given
to either party shall, if the same is to be posted, be addressed to the party to be served at its address mentioned herein or its
solicitors unless any party hereof shall have previously notified the others in writing of any other postal address to which notices,
requests, consents, demand or other communication are to be sent in which case the same shall be sent to that address. If the same
be sent by fax, telex or cable, it shall be sent to the fax, telex or cable address of the party to whom it is intended.

 

	20.	LAWS

 

		20.1	Governing Laws: This Agreement shall be governed by the laws of Malaysia.

 

	21.	INTERPRETATION

 

In this Agreement unless there
is something in the subject or context inconsistent with such construction or unless it is otherwise expressly provided: -

 

		(a)	words importing the masculine gender shall be deemed to include the feminine and neuter gender;
	 	 	 

		(b)	words importing the singular number shall include the plural and vice versa;
	 	 	 

		(c)	words applicable to natural persons only shall include any body or persons firm or partnership
corporate or unincorporated;
	 	 	 

		(d)	where there are two or more persons or parties included or comprised in the expression the “Vendor”
or the “Purchaser” the agreements covenants terms and undertakings expressed to be made by or binding upon such persons
or parties shall be deemed to be made by or binding upon such persons or parties jointly and severally;
	 	 	 

		(e)	the headings are inserted for convenience of reference only and shall not affect the construction
or interpretation of this Agreement;
	 	 	 

		(f)	the words “hereof”, “herein”, “hereon”, “hereinafter”
and “hereunder”, and words of similar import, when used in this Agreement, shall, where the context requires or allows,
refer to this Agreement as a whole and not to any particular provision of this Agreement;
	 	 	 

		(g)	where an act is required to be done within a specified number of days after or from a specified
date, the period is inclusive of and begins to run from the date so specified;
	 	 	 

		(h)	a period of a month from the happening of an event or the doing of an act or thing shall be deemed
to be inclusive of the day on which the event happens or the act or thing is or is required to be done;
	 	 	 

		(i)	Any reference to the word “day” in this Agreement shall mean calendar days including
Saturday, Sunday and public holidays within the Peninsula of Malaysia;
	 	 	 

		(j)	Any reference to the words “Business Day” in this Agreement shall mean a day
(other than Saturday, Sunday and a public holiday) on which financial institutions licensed under the Banking and Financial Institutions
Act, 1989 are opened for business in Kuala Lumpur

 

 

    	11

    	 	

    
 

	 	 	 

		(k)	any reference to “pay”, “receive” or cognate expressions,
includes payments made in cash, cheque or by way of bank draft (drawn on a bank licensed to carry on banking business under the
provisions of the Banking and Financial Institution Act 1989) or effected through inter-bank transfers to the account of the payee,
giving the payee access to immediately available, freely transferable and cleared funds;
	 	 	 

		(l)	any reference to statutes and rules made thereunder include all amendments which may be enacted
from time to time.
	 	 	 

	22.	SUCCESSORS BOUND

 

		22.1	Binding Effect: This agreement shall be binding upon the Vendor’s successors-in-title
and assigns and the Purchaser’s successors-in-title and permitted assigns.
	 	 	 

 

THE REMAINDER OF THIS PAGE HAS BEEN INTENTIONALLY
LEFT BLANK

 

 

[EXECUTION PAGE TO FOLLOW IMMEDIATELY]

 

 

 

    	12

    	 	

    
 

IN WITNESS WHEREOF the parties hereto
have hereunto set their hands and seal the day and year first above written.

 

The Vendor

 

	Signed by	)
	Tan Sri Dato’ Chua Ma Yu	)
	(NRIC No. 520918-01-5329	)
	for and on behalf of	)
	the Vendor	)
	in the presence of: -	)

 

 

The Purchaser

 

	Signed by	)
	 	)
	 	)
	For and on behalf of	)
	the Purchaser	)
	in the presence of: -	)

 

 

    	13

    	 	

    
 

 

Schedule A

 

 

List of Plans, Drawings and Documents

 

 

 

 

All relevant, plans, drawings and document
including information and documents relating to the Property as stated in Clause 13.1 of the draft Sale and Purchase Agreement.

 

 

 

 

 

 

    	14

    	 	

    
 

Schedule B

 

List of Defects to be Rectified

 

 

 

 

 

 

 

Note: All page, section and item number
referred to in this Schedule B refers to the corresponding pages, sections and items stated in the Building Inspection Report as
at July 2012 prepared by KPH Property Management Services Sdn Bhd.

 

    	15

    	 	

    
 

DATED
THIS DAY OF AUGUST 2, 2012

 

BETWEEN

 

CMY ASSETS
SDN BHD

(Company
No. 224670-U)

 

AND

 

PGCG ASSETS HOLDINGS
SDN BHD

(Company No. 983271-U)

 

 

 

 

 

 

 

 

 

	 	VENDOR’S SOLICITORS	 	PURCHASER’S SOLICITORS
	 	 	 	 
	 	TEH & LEE	 	C.W. CHAN & CO
	 	Advocates & Solicitors	 	Advocates & Solicitors
	 	A-3-3 & A-3-4, Northpoint Offices	 	No. 6-3A, Jalan Pandan 2/5
	 	Mid Valley City	 	 Pandan Jaya, 55100 Kuala Lumpur
	 	No. 1, Medan Syed Putra Utara	 	Tel: 603-9286 1903
	 	59200 Kuala Lumpur	 	Fax: 603-9286 1895
	 	Tel: 603-2283 2800	 	[Ref: CW2/PGCG/KL/12 (CMY)
	 	Fax: 603-2283 2500	 	 
	 	[Ref: CASB/TLJ/AEL/1171/10/SPA]	 	 

 

 

    	16Exhibit 10.2

 

 

SALE
& PURCHASE AGREEMENT

 

 

 

An AGREEMENT
OF SALE AND PURCHASE made the day and year stated in Section 1 of the First Schedule hereto between the first party whose
name and description are stated in Section 2 of the First Schedule hereto (hereinafter referred to as “the Vendor”)
of the one part AND the second party whose name and description are stated in Section 3 of the First Schedule hereto (hereinafter
referred to as “the Purchaser”) of the other part. 

 

 

WHEREAS:-

 

 

	1.	The Vendor is the registered and beneficial owner of the property described in Section 4
of the First Schedule hereto  (hereinafter referred to as “the Property”). 

 

	2.	The Property is currently charged to the Chargee who’s particulars is described in Section
5 of the First Schedule hereto.

 

	3.	The Property is currently vacant and the Vendor may let out the Property to any interested Tenant
subject to the Vendor has first obtained the prior written consent of the Purchaser before entering into tenancy agreement with
any interested Tenant PROVIDED ALWAYS THAT the said consent shall not be unreasonably withheld by the Purchaser. 

 

	4.	The Vendor is desirous to sell to the Purchaser and the Purchaser is desirous to purchase from
the Vendor the Property with vacant possession/legal possession on “as is where is basis” and free from all encumbrances
except for such restriction in interest and category of land use and conditions of the title expressed or implied in the Issue
Document of Title to the Property (hereinafter referred to as “the Strata Title”) and subject to the terms and conditions
hereinafter contained.

 

	5.	The Purchaser is represented by Messrs C.W. Chan & Co. Advocates & Solicitors,
No.6-3A, Jalan Pandan 2/5, Pandan Jaya, 55100 Kuala Lumpur (hereinafter referred to as “the
Purchaser’s Solicitors”) whereas the Vendor is represented by Messrs Yew Hock & Loh, Advocates & Solicitors
of No.19B, First Floor, Jalan Desa Jaya, Business Town Centre, Taman Desa, 58100 Kuala Lumpur (hereinafter
referred to as “the Vendor’s Solicitors”). 

 

 

GENERAL
CONDITIONS

 

	1.	SALE AND PURCHASE

 

		The Vendor hereby agrees to sell and the Purchaser hereby agrees to purchase the Property on
an “as is where is” basis with vacant/legal possession and free from all encumbrances except for such restriction
in interest (if applicable) and category of land use and conditions of the title expressed or implied in the Title Deed at the
purchase price as stated in Section 6 of the First Schedule hereto (hereinafter referred to as “the Purchase Price”).

 

	2.	PURCHASE PRICE AND MANNER OF PAYMENTS

 

		The Purchase Price shall be paid by the Purchaser in the following manner:-

 

	2.1	An earnest deposit in the sum as stated in Section 7 of the First Schedule hereto (hereinafter
referred to as “the Earnest Deposit”) has been paid by the Purchaser to the
Vendor prior to the execution of this Agreement.

 

    	1

    	 

    

 

	2.2	The balance deposit in the sum as stated in Section 8 of the First Schedule hereto (hereinafter
referred to as “the Balance Deposit”) shall be paid by the Purchaser to the Vendor upon the execution of this Agreement
the receipt whereof (the Vendor hereby expressly acknowledges). The Earnest Deposit and the Balance Deposit (hereinafter collectively
referred to as “the Deposit Sum”) shall be towards part payment of the Purchase Price. 

 

	2.3	The balance of the Purchase Price in the sum as stated in Section 9 of the First Schedule
hereto (hereinafter referred to as “the Balance Purchase Price”)
shall be paid to the Vendor’s Solicitors as stakeholders in the manner and at the time stated in Section 10 of the First
Schedule hereto (hereinafter referred to as “the Completion Period”).

 

	2.4	In the event that the Purchaser shall be unable to pay the Balance Purchase Price or any part
thereof on or before expiry of the Completion Period, the Vendor shall grant to the Purchaser an extension of time in the manner
provided for in Section 11 of the First Schedule hereto (hereinafter called “the Extended Completion Period”)
to pay the same and it is hereby agreed that the Purchaser shall pay to the Vendor interest at the rate prescribed in Section
12 of the First Schedule hereto (hereinafter referred to as “the Late Payment Interest”)
on the sum remaining unpaid until such time when such remaining sum shall have been fully paid which shall be in any event on
or before the expiry of the Extended Completion Period.

 

	2.5	The completion of the sale and purchase hereof shall take place upon the receipt by the Vendor’s
Solicitors as stakeholders the Balance Purchase Price and the Late Payment Interest, if any and apportionments of outgoings. The
date on which the Balance Purchase Price and the Late Payment Interest and apportionments of outgoings received by the Vendor’s
Solicitors as stakeholders shall be referred to as the “Completion Date”.

 

		For avoidance of doubt, any payment made other then in the form of cash shall only deemed received
by the Vendor’s Solicitors upon the cheque/cashier’s order/bank draft is confirmed cleared for payment by the Vendor’s
Solicitors’ receiving bank provided that the Vendor’s Solicitors presents the cheque/cashier’s order/bank draft
for clearance immediately on the day of receipt thereof or the next working day of receipt thereof.

 

	2.6	Upon receipt of the Balance Purchase Price, the Vendor’s Solicitors shall utilize the
whole or part of the Balance Purchase Price in the following manner: -

 

		(a)	Firstly, to redeem the Property from the Chargee;

 

		(b)	Secondly, to pay all charges, expenses, outgoings in respect
of the Property and other payments, if any, payable by the Vendor by virtue of these presents and or under Clause 6 and 7 of this
Agreement; and

 

		(c)	Finally, to release the remaining Balance Purchase Price to the
Vendor at the expiry of seven (7) working days after the Memorandum of Transfer has been presented for registration with
the relevant land registry/office Or at the expiry of seven (7) working days after the Purchaser’s Solicitors
receipt of the Documents of Title (as hereinafter defined), whichever is applicable and earlier PROVIDED ALWAYS THAT: -

 

		i.	Vacant possession of the said Property has been delivered by
the Vendor to the Purchaser; or

 

		ii.	Legal possession of the Property has been delivered to the Purchaser and clause 6.2 has been
complied with by the Vendor

 

		For purpose of this provision, the Memorandum of Transfer shall be deemed to have been duly
presented for registration with the relevant land registry/office within seven (7) working days from the date of the receipt by
the Purchaser’s Solicitors or the Purchaser’s Financier’s Solicitors, as the case may be of the Documents of
Title and the requisite registration fee for discharge of charge from the Vendor’s Solicitors. In the event that the Memorandum
of Transfer is not presented for registration within the said period, the Vendor’s Solicitors are hereby authorized to proceed
with the release of the Balance Purchase Price to the Vendor after the expiry of the seven (7) working days’ period. 

    	2

    	 

    

	3.	DOCUMENTATION

 

	3.1	Execution and delivery of the Memorandum of Transfer

 

		(a)	Simultaneous with the execution of this Agreement the Vendor shall execute a Memorandum of Transfer
of the Property in favour of the Purchaser (hereinafter referred to as “the Memorandum of Transfer”) and deposit
the same with the Purchaser’s Solicitors for the purpose of submitting the Memorandum of Transfer for adjudication of the
stamp duty payable thereon.

 

		(b)	The Purchaser’s Solicitors shall retain the Memorandum of Transfer after adjudication and
stamping thereof as stakeholders, and shall not part with or present the same for registration at the relevant land registry or
release the same to the Financier’s solicitors, as the case may be, until and unless the Purchaser has paid the full Balance
Purchase Price to the Vendor’s Solicitors as stakeholder under Clause 2 hereof OR if the Purchaser is obtaining the Loan
to part finance its purchase of the said Property, until and unless the Vendor’s Solicitors shall have received the Differential
Sum (as defined hereunder) and the Financier’s Undertaking (as defined hereunder).

 

		(c)	The Vendor hereby agrees that in the event this Agreement is terminated for any reasons whatsoever
Purchaser is allowed to retain the stamped Memorandum of Transfer for the purpose of claiming refund of stamp duty from the relevant
Authority on the Purchaser’s undertaking to return the Memorandum of Transfer to the Vendor upon receipt of the said refund.

 

	3.2	Deliver of Documents After Execution of the Agreement

 

	3.2.1	Simultaneous or as soon as practicable with or after the execution of this Agreement the Vendor shall furnish the following to
the Purchaser’s Solicitors :-

			

		(a)	a copy of the Strata Title;

 

		(b)	a certified true copy of the current year’s
quit rent and assessment receipt;

 

		(b)	the Vendor’s following documents:-

 

		(i)	a certified true copy each of the Vendor’s
signatories identity cards;

 

		(ii)	a certified true copies each of the Vendor’s latest Forms
24, 44 and 49;

 

		(iii)	a certified true copies of the Vendor’s Members’
Resolution authorising the sale of the said Property to the Purchaser;

 

		(iv)	a certified true copies of the Vendor’s Board Resolution
authorising the sale of the said Property to the Purchaser, the execution of this Agreement and the Memorandum of Transfer and
the affixation of the Vendor’s common seal thereon in accordance with the provisions of its Articles of Association;

 

		(v)	a certified true copies of the Vendor’s Memorandum and
Articles of Association; and

 

		(vi)	details of the Vendor’s income tax number and the branch
office address where the file is maintained.

 

    	3

    	 

    

 

	3.2.2	Simultaneous with the execution of this Agreement the Purchaser shall deliver to the Vendor’s Solicitors the following documents
:-

 

 

		(i)	a
certified true copy each of the Purchaser’s signatories identity cards;

 

		(ii)	a certified true copies each of the Purchaser’s latest
Forms 24, 44 and 49;

 

		(iii)	a certified true copies of the Purchaser’s Members’
Resolution authorising the sale of the said Property to the Purchaser;

 

		(iv)	a certified true copies of the Purchaser’s Board Resolution
authorising the purchase of the said Property from the Vendor, the execution of this Agreement and the Memorandum of Transfer and
the affixation of the Purchaser’s common seal thereon in accordance with the provisions of its Articles of Association;

 

		(v)	a certified true copies of the Purchaser’s Memorandum and
Articles of Association; and

 

		(vi)	the Purchaser’s Income Tax reference number and the address of the Income Tax
Department the Purchaser file his income tax returns.

 

 

	4.	PURCHASER’S LOAN

 

	4.1	In the event the Purchaser obtains a loan from a Bank or Financial Institution (hereinafter referred to as “the Purchaser’s
Financier”) to assist in the purchase of the said Property, the Purchaser shall within the Completion Period or the Extended
Completion Period, as the case may be:-

 

		(i)	pay to the Vendor’s Solicitors as stakeholders the difference between the Balance
Purchase Price and the Loan (hereinafter referred to as “the Differential Sum”); and

 

		(ii)	cause the Purchaser’s Financier to forward and deposit with the Vendor’s
Solicitors an original Letter of Undertaking addressed directly to the Vendor whereby the Purchaser’s Financier undertakes
to release the loan to the Vendor’s Solicitors as stakeholders after presentation of the Memorandum of Transfer in favour
of the Purchaser and the Charge in favour of the Purchaser’s Financier in respect of the said Property at the relevant land
registry for registration (hereinafter referred to as “the Purchaser’s Financier’s Undertaking”).
The Purchaser’s Financier’s Undertaking shall be given to the Vendor’s Solicitors for the sole purpose of delivering
the documents referred to Clause 5.2 hereof to the Purchaser’s Financier’s Solicitors to enable the Financier to release
the balance Loan towards payment of the Balance Sum to the Vendor’s Solicitors.

 

	4.2	To facilitate the release of the Loan, the Vendor shall within fourteen (14) days from the date of receipt by the Vendor’s
Solicitors of (i) the request by the Purchaser’s Financier’s Solicitors for the following documents and (ii) the Differential
Sum (if any) [subject to the clearance of the cheque] (whichever is the latest) to deliver to the Purchaser’s Financier’s
Solicitors of the following documents :-

 

		i)	the Redemption Statement and undertaking as provided in Clause 5.1 herein,

 

		ii)	the current quit rent and assessment receipts;

 

		iii)	a letter of undertaking from the Vendor issued in favour of the Purchaser’s
Financier to refund the Loan in the event the Memorandum of Transfer in favour of the Purchaser cannot be registered for any reason
whatsoever; and

 

		iv)	Vendor’s Solicitors written confirmation that the differential sum has been paid by the Purchaser

 

			(hereinafter be collectively referred to as “the Vendor’s Documents”).

    	4

    	 

    

 

		PROVIDED THAT if the Vendor fails to deliver the Vendor’s Documents as stated above to
the Purchaser’s Financier's Solicitors within fourteen (14) days from the date of receipt by the Vendors’ Solicitors
of (i) request for the documents as stated above and (ii) the Differential Sum (if any) (subject to the clearance of the
cheque) (whichever is the latest), any delay after the expiry of the said fourteen (14) days shall
be excluded from the calculation of time in respect of the Completion Period or the Extended Completion Period, as the case may
be, which the said dates shall be extended by the number of days delay after the expiry of the said fourteen (14) days till the
Purchaser’s Financier’s Solicitors receipt of the Vendor’s Documents and no interest charges shall be payable
during such period.

 

 

	5.	REDEMPTION OF PROPERTY AND RELEASE OF MONIES TO VENDOR

 

	5.1	The Vendor shall obtain the redemption statement and the relevant undertakings (hereinafter referred to as “the Redemption
Statement”) from the Chargee after the Vendor’s Solicitors’ receipt of notification by the Purchaser’s
Solicitors or the Purchaser’s Financier’s Solicitors of the particulars of the Purchaser’s Financier and the
loan amount granted as the case may be. In the event the Balance Purchase Price is insufficient to redeem the said Property, the
Vendor hereby undertakes to pay the deficit sum to the Vendor’s Solicitors as stakeholders within fourteen (14) days upon
written notification by the Purchaser’s Solicitors or the Purchaser’s Financier’s Solicitors and any delay in
excess of the said fourteen (14) days for the Vendor to pay the deficit sum shall be excluded from the computation of the Completion
Period or the Extended Completion Period, as the case may be and no late payment interest shall be imposed on such days. In the
event the Vendor failed, neglect or refused to pay the deficit sum after due notice have been given by the Purchaser then the
conditions in Clause 14 shall apply mutatis mutandis.

 

	5.2	The Vendor shall within fourteen (14) days from the date the Vendor’s Solicitors receipt of the Redemption Sum and the Purchaser’s
Financier’s Undertaking deliver or cause to be delivered to the Purchaser’s Solicitors or the Purchaser’s Financier’s
Solicitors, as the case may be, the following documents:-

 

		(i)	the original Issue Document of Title;

 

		(ii)	a valid and registrable Discharge of Charge duly
executed and Stamped;

 

		(iii)	the registered Duplicate Charge;

 

		(iv)	the requisite registration fee; and

 

		(v)	such other relevant documents on respect of the said Property
required by the Land Registry to effect the registration of the transfer in favour of the Purchaser and Discharge of Charge (if
any) 

 

(hereinafter
referred to as the “ the Title and Discharge Documents”)

 

			

		PROVIDED THAT if the Vendor fails to deliver the Title and Discharge Documents stated above to the Purchaser’s Financier's
Solicitors within the aforesaid fourteen (14) days from the date of receipt by the Vendor’s Solicitors of (i) the Redemption
Sum and (ii) the original Purchaser’s Financier’s Undertaking, any delay after the expiry of the said fourteen (14)
days shall be excluded from the calculation of time in respect of the Completion Period or the Extended Completion Period, as
the case may be, which the said dates shall be extended by the number of days delay after the expiry of the said fourteen (14)
days till the Purchaser’s Financier’s Solicitors receipt of the title and Discharge Documents and no interest charges
shall be payable during such period.

 

	5.3	Upon receipt of the Title and Discharge Documents, the following shall apply:-

 

		(a)	In the event that the Purchaser settling the Balance
Purchase Price without the assistance of the Loan:-

 

			The Purchaser’s Solicitors shall present
the Memorandum of Transfer for registration at the appropriate Land Office/Registry within seven (7) working days of their receipt
of the aforesaid documents failing which the said Memorandum of Transfer in favour of the Purchaser shall be deemed to have been
presented on the seven (7th) working day.

    	5

    	 

    

		(b)	In the event that the Purchaser obtaining the Loan to settle
the Balance Purchase Price:-

 

 

			The
Purchaser’s Financier’s Solicitors shall present the Memorandum of Transfer and the Memorandum of Charge in favour
of the Purchaser’s Financier for registration within seven (7) working days upon receipt of the same.

 

			

 

	6.	VACANT/LEGAL POSSESSION

 

	6.1	Subject to Clause 6.2 herein, the Vendor shall within seven (7) days from the Completion Date deliver vacant possession of the
Property on as is where is basis to the Purchaser (hereinafter referred to “VP Period”) failing which, the Vendor
shall pay to the Purchaser liquidated damages for late delivery of vacant possession of the Property at the rate of eight per
centum ( 8%) per annum on the Purchase Price calculated from the date of expiry of the VP Period until the date on which vacant
possession of the Property is actually delivered to the Purchaser.

 

		The date vacant possession of the Property is delivered to the Purchaser shall be known as “VP Date”.

 

	6.2	In the event the Property is tenanted after the execution of this Agreement, the Vendor shall simultaneously with execution of
the Tenancy Agreement, execute an assignments in respect of the Tenancy Agreements in favour of the Purchaser and procure the
Tenant to endorse his consent on the Tenancy assignment (hereinafter referred to as “the Tenancy Assignment”) and
thereafter deposit the same with the Vendor’s Solicitors. The Vendor’s Solicitors shall attend to the following at
the Completion Date:-

 

		(i)	notify the Tenant in writing of the following:-

 

		(a)	the date of completion of this Agreement; and

 

		(b)	that the Rental payable pursuant to the Tenancy Agreement shall be payable to the Purchaser from
the Completion Date.

 

and thereafter
deliver a copy of the said notification duly acknowledged by the Tenant to the Purchaser’s Solicitors.

 

		(ii)	forward an original and a duplicate of the Tenancy Assignment to the Purchaser’s Solicitors;

 

		(iii)	forward to the Purchaser all the original Tenancy Agreement and the Tenancy Deposits (i.e. the
security and utilities deposits) deposited by the Tenant with the Vendor under the Tenancy Agreement subject to deduction pursuant
to Clause hereof; and

 

		(iv)	forward to the Purchaser the portion of the rent payable by the Vendor to the Purchaser under Clause
7.1 hereof.

 

	7.	APPORTIONMENT OF PROFITS AND OUTGOINGS AND CHANGE OF OWNERSHIP

 

	7.1	The Purchaser shall be entitled to receive the rents payable under the Tenancy Agreement from the Completion Date. The rents payable
under the relevant Tenancy Agreements for the month in which the Completion Date falls shall be apportioned between the Purchaser
and the Vendor as at the Completion Date and shall be paid to the Purchaser on the Completion Date or set-off with the outgoings
due to the Vendor as stated in Clause 7.4 hereof. 

    	6

    	 

    

	7.2	All quit rent, assessments, maintenance/service charges, sinking fund, rates, taxed and other outgoings, if any, (except for water,
electricity and sewerage charges which are payable by the Tenant, if the Property is tenanted) (“Outgoings”) payable
to the relevant authorities in respect of the Property shall be apportioned as at the Completion Date or VP Date, as the case
may be, PROVIDED ALWAYS that the Vendor shall indemnify the Purchaser and their heirs, personal representatives and assigns in
respect of all penalties and damages that may arise as a result of any late payments or default in payments by the Vendor in respect
of such quit rent, assessments and maintenance/service charges.

 

	7.3	The parties hereby agree that on the Completion Date, the Vendor shall forward the computations
for the outgoings (any amounts whatsoever including but not limited to the late payment interest and apportionment of quit rent,
assessment and other outgoings except such utilities outgoings payable by the Tenant) due and payable to the Vendor by the Purchaser
together with the relevant documents/receipts for the Purchaser’s approval for deduction of the same from the Tenancy
Deposit and upon approval by the Purchaser the Vendor’s Solicitors shall deduct the said
agreed amount from the Tenancy Deposits and forthwith release the balance Tenancy Deposit to the Purchaser.

 

	7.4	The Vendor shall after the Completion Date or VP Date (whichever is applicable) be entitled
to obtain a refund of the deposits that may have been paid by the Vendor to the relevant authorities in respect of the utilities
for the said Property (including but not limited to electricity and water supply) and the Vendor shall inform the Purchaser for
reconnection of any of the utilities for the said Property. 

 

	7.5	The Purchaser shall where necessary inform all the relevant authorities of the change of ownership
of the Property upon completion of the sale and purchase herein and shall pay all costs and expenses incidental thereto or howsoever
arising therefrom or in connection therewith.

 

 

	8.	CONDITION OF THE PROPERTY

 

	8.1	The Property is sold on an “as is where is” basis. The Purchaser is deemed to have
inspected and is satisfied with the conditions state nature and character as at the date of this Agreement.

 

	8.2	The Parties hereto hereby expressly agrees and confirms that any risks in respect of the said Property shall pass to the Purchaser
only as from the legal possession or vacant possession of the property, as the case may be, is delivered to the Purchaser pursuant
to Clause 6.2 or Clause 6.3 hereof.

 

 

	9.	PURCHASER’S PRIVATE CAVEAT

 

		At any time after the date hereof, the Purchaser shall be entitled at the Purchaser’s
own cost and expense to present and register a private caveat or private caveats against the said Property for the purpose of
protecting the Purchaser’s interest in the said Property and prohibiting any dealing by the Vendor in the said Property
prior to the completion or lawful termination of this Agreement PROVIDED THAT the Purchaser hereby irrevocably and unconditionally
agrees and covenants with and undertakes to the Vendor that the Purchaser shall at the Purchaser’s own costs and expenses
ensure the Notice of Withdrawal of Private Caveat be signed simultaneously and be deposited with the Purchaser’s Solicitors
who shall be authorised to lodge the same at the relevant land office upon the termination of this Agreement in accordance with
the provisions herein and shall within seven (7) days thereof forward the particulars of the Presentation of the withdrawal of
Caveat to the Vendor’s Solicitors.

 

    	7

    	 

    

 

	10.	NON REGISTRATION OF THE MEMORANDUM OF TRANSFER

 

	10.1	In the event that the Memorandum of Transfer cannot be registered in favour of the Purchaser free from encumbrances by reason
of any caveat, prohibitory order, default of the Vendor or other encumbrances attributable to the Vendor, then it shall be the
duty of the Vendor to remove forthwith at his own costs and expenses such caveat prohibitory order or encumbrances within fourteen
(14) working days from the date of receipt of the written notification from the Purchaser’s Solicitors, failing which the
Vendor shall be deemed to have committed a breach referred to in clause 15 of this Agreement and the effect of the said clause
shall apply. Alternatively and without prejudice to Clause 14 of this Agreement, in the event that the Vendor shall fail to remove
such caveat prohibitory order or encumbrances, the Purchaser hereunder shall have a right to choose to remove such caveat, prohibitory
order or encumbrances and in such event the Purchaser shall be entitled to claim from the Vendor damages and reimbursement of
the costs and expenses incurred by the Purchaser upon solicitors and clients basis and the Vendor also liable to pay for penalty
for late registration of Memorandum of Transfer.

 

	10.2	If the Memorandum of Transfer cannot be registered in favour of the Purchaser for any reason
that is not attributable to any act, omission, fault, neglect and/or blameworthy conduct on the part of the parties hereto which
cannot be rectified, then the Purchaser is entitled by written notice to the Vendor, to terminate this Sale Agreement whereupon
Clause 11 above shall apply mutatis mutandis.

 

 

	11.	DAMAGE TO THE PROPERTY AND ACT OF GOD

 

		In the event that the Property or any part thereof is destroyed or damaged by fire, flood or
any Act of God not due to the omission act or default of the Vendor, and or is deemed to be unfit for human habitation before
the delivery of the vacant possession, the Purchaser shall be entitled to serve on the Vendor a Notice of Rescission to terminate
this Agreement and the Vendor shall on or before the expiry of fourteen (14) days from the date of receipt of the Notice of Rescission
cause all monies paid by the Purchaser to the Vendor towards the Purchase Price to be refunded to the Purchaser free from interest,
in default of which the Vendor shall pay to the Purchaser interest on the aforesaid monies or any part thereof remaining unpaid
computed at the rate of Eight Per Centum (8%) per annum calculated on a daily basis from the date of the Notice of Rescission
until the date of actual refund PROVIDED THAT the Purchaser shall simultaneously in exchange for the refund of monies return or
cause to be returned to the Vendor all documents and/or instruments (if any) with the Vendor’s interest in the Property
remains intact and free from any caveats lodged by or on behalf of the Purchaser and redeliver vacant possession of the Property
to the Vendor if the same shall have been delivered to the Purchaser. Thereafter, neither party shall have any claim against each
other whatsoever.

 

	12.	WARRANTIES AND REPRESENTATIONS BY THE VENDOR

 

	12.1	The Vendor hereby covenants, undertakes, represents and warrants to and with the Purchaser (on
the basis of which the Purchaser enters into this Agreement with the Vendor) that: -

 

		(a)	That the statements contained in the Recitals are correct and
accurate;

 

		(b)	That the Vendor is the registered and beneficial owner of the
Property;

 

		(c)	The Property has been charged to the Chargee under the National
Land Code 1965;

 

		(d)	That the Vendor has full power and authority to execute, deliver
and perform the terms and conditions of this Agreement;

 

		(e)	That the Vendor shall fully settle the quit rent, assessment
and other outgoings payable by the Vendor which are in arrears and outstanding in respect of the Property until the Completion
Date and/or VP Date;

    	8

    	 

    

		(f)	That there are no previous sale or agreement for the sale of
the Property which are subsisting and that there are no claims or interest in relation to or affecting the Property;

 

		(g)	That there are no outstanding notices, orders, requirements or
schemes of any Federal, State, Local Government, Authority or Statutory Board which will prejudicially or adversely affect the
present or continued use and enjoyment by the Vendor of the Property;

 

		(h)	That the Vendor is not a bankrupt/wound up and is not subject
to any bankruptcy/ winding up proceeding or other acts or proceedings which may render the sale transfer of the Property impossible
or invalid;

 

		(i)	That from the date of this Agreement, the Vendor shall not sell,
transfer, charge, the Property or any part thereof pending the completion of this Agreement; and

 

		(j)	That from the date of this Agreement, the Vendor shall not vary
the terms of the Tenancy with the Tenant without the consent of the Purchaser pending the completion of this Agreement. 

 

	12.2	The Vendor hereby agrees and acknowledges that the Purchaser is entering into this Agreement and agreeing to purchase the Property
in reliance upon the representations and warranties herein above and the Purchaser may treat the same as conditions of this Agreement.

 

	12.3	It is hereby agreed that in the event there is a breach of the representation or warranties hereof, the Vendor shall rectify the
said breach within Thirty (30) days of the Purchaser's notice requiring such rectification failing which Clause 14 hereof shall
be applicable. Pending rectification of the breach by the Vendor, all the Purchaser's obligations under this Agreement shall be
suspended.

 

	13.	WARRANTIES AND REPRESENTATIONS BY THE PURCHASER

 

	13.1	The Purchaser hereby represents and warrants to the Vendor that the Purchaser:-

 

		(i)	has full power and capacity to execute, deliver, observe and perform this Agreement; and

 

		(ii)	the Agreement constitute or when executed will constitute a legal, valid, and binding obligations
of the Purchaser in accordance with the terms of the Agreement;

 

		(iii)	that the Purchaser is not a undischarged bankrupt and there is presently no bankruptcy proceedings
against the Purchaser and no receiving and adjudication orders have been made nor has any bankruptcy petition been presented against
the Purchaser and are subsisting or not discharged; and

 

		(iv)	all the representations, warranties, covenants and undertakings on its part and contained in this
Clause will be fulfilled down to and will be true and correct at completion of the sale and purchase of the said Property in all
respects as if they had been entered into afresh at completion.

 

	13.2	If any representation and warranty in Clause 13.1 hereof shall at any time hereafter be found to have been untrue incorrect or
inaccurate in any material respect then and in such event, without prejudice to any of the rights and remedies of the Vendor herein
contained or under general law, the Vendor shall have the right to terminate this Agreement and Clause 15 hereof shall be applicable
PROVIDED ALWAYS that the Vendor shall have by written notice notified to the Purchaser of the said breach of warranty and/or misrepresentation
and the Purchaser shall has failed to rectify the same within thirty (30) days (if the breach is capable of remedy) from the date
of receipt of such notification.

    	9

    	 

    

 

	14.	DEFAULT BY THE VENDOR

 

		If the Vendor shall be in breach of any of the provisions of this Agreement and/or shall fail
to complete the sale of the Property pursuant to this Agreement for any reason not attributable to the Purchaser, the Purchaser
shall be entitled at his option: -

 

		(i)	to the remedies of specific performance against the Vendor at
the costs and expenses of the Vendor.

 

or

 

		(ii)	to serve on the Vendor a notice in writing to elect to accept
a sum equivalent to Ten Per Centum (10%) of the Purchase Price as agreed liquidated damages (hereinafter referred to as “the
Liquidated Damages”) from the Vendor who shall within Fourteen (14) days from the date
of receipt of the aforesaid notice pay the Liquidated Damages to the Purchaser and cause all monies paid by the Purchaser towards
the Purchase Price pursuant to this Agreement including the Deposit paid by the Purchaser be refunded free from interest to the
Purchaser in default of which payment and refund as aforesaid the Vendor shall further pay the Purchaser interest on the Liquidated
Damages and the aforesaid monies or any part thereof remaining unpaid calculated at the rate of Eight Per Centum (8%) per annum
on a daily basis from the date of the aforesaid notice until the date of actual payment and refund PROVIDED THAT the Purchaser
shall in exchange of the refund and or payment of the aforesaid monies return or cause to be returned to the Vendor all documents
and/or instruments (if any) with the Vendor’s interest in the Property remains intact and redeliver vacant possession of
the Property to the Vendor if the same shall have been delivered to the Purchaser. Thereafter, this Agreement shall become null
and void and neither party shall have any further claims or actions against the other and the Vendor shall be entitled at its sole
discretion to sell the Property to any party without further reference to the Purchaser.

 

 

	15.	DEFAULT BY THE PURCHASER

 

	 	If the Purchaser shall fail or neglect to pay the Balance Purchase Price on or before the Extended
Completion Period for any reason not attributable to the Vendor and/or breach of any provisions of this Agreement, the Vendor
is entitled to terminate this Agreement by a written notice to the Purchaser or the Purchaser’s Solicitors and the Deposit
Sum shall be forfeited by the Vendor and any other sum received by the Vendor towards the Balance Purchase Price shall be refunded
free of interest to the Purchaser within fourteen (14) days from the date of termination and the Purchaser shall simultaneously
in exchange for refund return to the Vendor all documents and/or instruments with the Vendor interest in the Property remains
intact and redeliver vacant possession of the Property to the Vendor if the same shall have been delivered to the Purchaser. Thereafter,
this Agreement shall be treated as null and void and of no further effect and neither party shall have any further claims or actions
against the other and the Vendor shall be entitled at its sole discretion to sell the said Property to any party without further
reference to the Purchaser.

 

 

	16.	STAMP DUTIES AND OTHER EXPENSES

 

		Unless otherwise stated in this Agreement, all stamp duties, registration fees and other expenses
arising from and incidental to this sale and the subsequent transfer and assignment of tenancies shall be borne and paid by the
Purchaser. All stamp duties; registration fees and expenses for the Discharge of Charge (if any) shall be borne and paid by the
Vendor.

 

		The legal cost and expenses for preparing the Deed of Assignment of Tenancy shall be borne and
paid by the Purchaser. 

    	10

    	 

    

	17.	SOLICITORS COSTS

 

			Each party shall bear their own solicitors’ costs.

 

	18.	TIME 

 

			Time wherever mentioned shall be of the essence of this Agreement.

 

	19.	GOVERNMENT ACQUISITION

 

		In the event the Property or any part thereof is without the fault of either party acquired
or subjected to an intended acquisition by the Government or any Public Authority and any notification or declaration pursuant
to the Land Acquisition Act 1960 or any amendment therein shall be published after the date hereof but prior to the expiry of
the Completion Period or the Extended Completion Period, the Vendor shall immediately give notice in writing to the Purchaser
of such notification or declaration and the Vendor shall if demanded by the Purchaser forthwith refund to the Purchaser all sums
paid to the Vendor under this Agreement Provided That the Purchaser shall return or cause to be returned to the Vendor all documents
and/or instruments with the Vendor’ interest in the Property remains intact and redeliver vacant possession of the Property
to the Vendor if the same shall have been delivered to the Purchaser and upon such refund being made neither parties hereto shall
have any further claims against the other under or in respect of this Agreement. Alternatively, the Purchaser may elect to continue
to proceed with the purchase by paying the Balance Purchase Price together with interest thereon (if any) in accordance with the
terms herein but any compensation made by the acquisition body together with the right to appeal against the compensation made
shall belong to the Purchaser. The Vendor shall (if required) attend and render all assistance including producing relevant documents
provided by the Purchaser at hearings to support claims for compensation,

 

	20.	REAL PROPERTY GAINS TAX

 

	20.1	The parties hereto hereby shall, within sixty (60) days of the date hereof, individually notify
the Director-General of Inland Revenue, Malaysia (hereinafter referred to as “DGIR”) the prescribed forms relating
to the acquisition and disposal of the said Property Agreement in accordance with the provisions of the Real Property Gains Tax
Act, 1976 (as amended by the Finance Act 2010) including any amendments or statutory modifications thereof (hereinafter referred
to as “the RPGT Act”). 

 

	20.2	The Vendor hereto irrevocably authorizes the Purchaser to deduct from the Deposit the sum of
Ringgit Malaysia Seventeen Thousand Five Hundred and Fifty (RM17,550.00) only an amount equivalent to two percent (2%) of the
Purchase Price (hereinafter referred to as the “RPGT Retention Sum”) and pay to the Purchaser’s Solicitors and
the Purchaser’s Solicitors are hereby authorized by the parties to deal with the same in accordance with the provision herein.
Subject to the Purchaser’s Solicitors’ due receipt of the RPGT Retention Sum, the Purchaser’s Solicitors shall
pay the entire RPGT Retention Sum to the DGIR together with the Form 502 within thirty (30) days from the date of this Agreement
and thereafter forward a certified true copy of the Form CKHT 502 and the original receipt for payment of the RPGT Sum to the
Vendor’s Solicitors, within three (3) days from the date of payment thereof.

 

	20.3	The Vendor hereby agrees, undertakes and covenants to pay all additional real property gains
tax payable (if any) in respect of the disposal of the said Property in accordance with the time period as stipulated in the notice
of assessment of tax received from the DGIR. If the RPGT Retention Sum exceeds the Real Property Gains Tax payable in connection
with the disposal of the said Property, the Vendor shall be responsible to recover the excess amount from the DGIR without recourse
to the Purchaser or the Purchaser’s Solicitors. 

 

	20.4	Notwithstanding the foregoing the Vendor hereby expressly warrant(s) covenant(s) and undertake(s)
with the Purchaser that the Vendor will bear and pay all taxes (if any) chargeable under the Real Property Gains Tax Act, 1976
in respect of the sale and disposal of the said Property and further undertakes with the Purchaser to indemnify and keep indemnified
the Purchaser against all and any claims or demands whatsoever resulting from the Vendor’s non–compliance or non-performance
with any of the provisions of the RPGT Act in respect of the sale/disposal of the said Property including all actions proceedings
costs and demands in respect thereof as determined by the court and similarly the Purchaser shall indemnify and keep the Vendor
fully indemnified against all actions, proceedings, prosecutions, claims, demands costs, damages, losses, fines, or penalties
which may be brought made or levied against or suffered by the Vendor as a result of the Purchaser’s or the Purchaser’s
Solicitors non-compliance with the provisions of Clause 20.2 hereof.

    	11

    	 

    

	21.	SEVERABILITY

 

Any
term, condition, stipulation, provision, covenant or undertaking in this instrument which is illegal, void, prohibited or unenforceable
shall be ineffective to the extent of such illegality, voidness, prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such illegality, voidness, prohibition or unenforceability shall not invalidate or render illegal, void
or unenforceable any other term, condition, stipulation, provision, covenant or undertaking herein contained

 

	22.	MISCELLANEOUS

 

	(a)	In this Agreement unless there be something in the subject matter or context inconsistent therewith
words importing the singular number or the masculine gender only shall include the plural number or feminine gender and vice versa
and words importing individual person shall also be deemed to include corporations and the expression “Vendor” and
“Purchaser” shall include his assigns.

 

	(b)	This Agreement shall be binding upon the heirs, nominee(s), personal representatives, permitted
assigns and successors-in-title of the parties hereto.

 

	(c)	Any notice to be given under this Agreement shall be in writing and shall be sufficiently served
on the Vendor if sent to him by prepaid registered post addressed to him at his address herein stated or to his last known address
or to his solicitors and any notice to the Purchaser shall be in writing and shall be sufficiently served on the Purchaser if
sent to him by prepaid registered post addressed to him at his address herein stated or to his last known address or to his solicitors
and any notice sent aforesaid shall be deemed to have been received in the ordinary course of post.

 

	(d)	The headings to Clauses in this Agreement are inserted for convenience only and shall be ignored
in construing the provision of this Agreement.

 

	(e)	"working day" means a week day [other than a Saturday, Sunday or national holiday]
between the hours of 9:00 a.m. to 5:00 p.m. in which banks are open for business in Kuala Lumpur and Selangor.

 

 

THE
REST OF THIS PAGE IS DELIBERATELY LEFT BLANK

**********************************************

    	12

    	 

    

 

 

IN WITNESS WHEREOF the
parties hereto have hereunto set their hands the day and year first above written.

 

	The Common Seal of the Vendor 	)
	

FNAC
HOLDINGS SDN BHD

	)
	(Company No. 874941-U)	)
	is affixed hereunto	)
	in the presence of:	)

 

 

 

 

	____________________	____________________
	Director	Director
	Name: NG KIM TECK	Name: CHONG HWEE YEOK ANNA
	NRIC No. S1605230B	NRIC No.S6930289J

 

 

 

 

	The Common Seal of the Purchaser	)
	PGCG HOLDINGS SDN BHD	 )
	(Company No. 983271-U)	 )
	is affixed hereunto	 )
	in the presence of:	)

 

 

	____________________	____________________
	Director	Director
	Name:	Name:
	NRIC No.	NRIC No.

 

 

 

 

 

This
is the execution page of the Sale and Purchase Agreement between the Vendor and the Purchaser for property known as Unit No.E-1-2
(Mezzanine Floor) Megan Avenue 1, No.189, Jalan Tun Razak, 50450 Kuala Lumpur. 

    	13

    	 

    

 

FIRST
SCHEDULE

 

 

	
         

        SECTION

         
	
         

        PARTICULARS
	
         

        DESCRIPTION

         
	 
	
         

        1
	
         

        DATE OF THIS AGREEMENT

         
	
         

         

         

         
	 
	
         

        2

         

         

         

         

         
	
         

        VENDOR

         
	
         

FNAC HOLDINGS SDN BHD (Company No. 874941-U)
a company incorporated in Malaysia under the Companies Act 1965 and having its registered office
at No. 19-3, Jalan 3/146, Bandar Tasik Selatan, 57000 Kuala Lumpur
	 
	
         

         

        3

         
	

         

        PURCHASER
	
         

PGCG ASSETS HOLDINGS SDN
BHD

(Company No. 983271-U)

No. 11-2, Jalan 26/70A, Desa Hartamas 50480 Kuala Lumpur

         
	 
	
         

        4

         

         
	
         

        THE PROPERTY
	
         

        One
        (1) unit of commercial office Lot within a Twelve (12) storey Shop-Office Block bearing postal address 

        No. E-1-2, (Mezzanine Floor)
        Megan Avenue 1, No. 189, Jalan Tun Razak, 50400 Kuala Lumpur erected on a freehold land held
        under Strata Title No. Geran 40011/M1-E/N1/369, No. Petak 369, Tingkat No. N1, Bangunan No. M1-E, Lot 162 Seksyen 43, Bandar
        Kuala Lumpur, Daerah and Negeri Wilayah Persekutuan Kuala Lumpur measuring approximately _____
        square meters

         
	 
	 5	 CHARGEE	UNITED
    OVERSEAS BANK (MALAYSIA) BHD

    Charge Presentation No. 36295/2010 dated 23/09/2010	 
	6	 PURCHASE
    PRICE	Ringgit
    Malaysia __________________

    (RM ____________) only.	 
	7	 EARNEST
    DEPOSIT	Ringgit
    Malaysia __________________ 

    (RM ____________) only.	 
	 	 	 	 	 	 	 	 	 

    	14

    	 

    

 

	
         

        

        8

         

         
	
         

        

        BALANCE DEPOSIT SUM

         

         
	
         

        Ringgit
        Malaysia __________________ 

        (RM
        ___________) only shall be paid by the Purchaser in the following manner upon execution of this
        Agreement:-

         

        (a)             
        RM __________ to the Purchaser’s Solicitors as stakeholder being retention sum for real property gains tax pursuant to Clause
        20.2; and 

         

        (b)            
        RM ___________ to the Vendor. 

         
	 
	
         

        9

         
	
         

        BALANCE PURCHASE PRICE

         
	
         

        Ringgit
        Malaysia __________________ 

        (RM ____________) only.

         
	 
	
         

        10
	
         

        COMPLETION PERIOD
	
         

        Three (3) months from
        the date of this Agreement.

         
	 
	
         

        11
	
         

        EXTENDED COMPLETION DATE
	
         

        Ninety (90) days from
        the expiry of the Completion Period subject to payment of interest at the Prescribed Rate.

         
	 
	
         

        12
	
         

        INTEREST

        At PRESCRIBED RATE
	
         

        Eight Percent (8%) per
        annum on the Balance Purchase Price OR on any balance remaining unpaid calculated on a daily
        basis from the commencement of the Extended Completion Period to the date of full payment.

         
	 

 

 

 

 

 

 

 

    	15

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