OTHERS Collaboration with Himalayan Builders & Engineers Private Limited

## fields Subject :: OTHERS ## para Protasco Berhad (“Company”) wishes to announce that its following subsidiaries, had on 24 March 2014 signed with Himalayan Builders & Engineers Private Limited (“HBE”), a company incorporated in Nepal the following documents: ## para Name of Subsidiaries ## para Type of Documents Signed ## para Purpose ## para Protasco Development Sdn Bhd ## para Memorandum of Understanding (“MOU”) ## para To jointly develop and construct a commercial hotel on a Design-Build-Own-Operate Basis on a land parcel measuring approximately 30,000 square feet, owned by a related company of HBE.(“Project”) ## para Kumpulan Ikram Sdn Bhd ## para Memorandum of Collaboration ## para Kumpulan Ikram Sdn Bhd to provide engineering labs services in Nepal and to jointly establish Ikram Integrated Engineering Lab in Nepal. ## para Ikram Education Sdn Bhd ## para Agent Agreement ## para To appoint HBE as a recruitment agent to recruit students from Nepal to be enrolled in Infrastructure University Kuala Lumpur, a university managed by Ikram Education Sdn Bhd. ## para Reference is also made to the following statement in article entitled "Protasco to invest in Nepal” that appeared in The Star, StarBiz, page 7 on Wednesday, 26 March 2014: ## para “The lab and boutique hotel would be of international standard with about US$100 million investment, said Khanal after the signing ceremony” ## para The Company wishes to clarify that the above amount was not mentioned in the MOU. The parties are in the midst of conducting a feasibility study. As of todate, the investment value of the Project has yet to be ascertained.