January 2, 2014

QL Fishery Sdn. Bhd. will acquire 100% equity interest in Kuala Kedah Fish Meal Sendirian Berhad (KKFM) for a total consideration of MYR2.7 million (US$823,000), through an agreement made on December 30, 2013.
 
The consideration was arrived based on willing buyer-willing seller basis taking into consideration its strategic location such as a key fish landing centre in Northern Peninsular. KKFM also owns a 9,200-square meter leasehold industry land at Negeri Kedah, which houses a fishmeal processing plant.

Upon completion of the acquisition, KKFM would become the wholly-owned subsidiary of QL Fishery Sdn. Bhd. It is anticipated that this acquisition will contribute positively to QL Group's future earnings. However, the acquisition will not have any effect on the issued and paid up share capital of QL and has no material effect on the earnings and net assets of QL Group for the financial year ending March 31, 2014.