On December 15, 2025, Texstrip Manufacturing Sdn. Bhd., an indirect wholly-owned subsidiary of FURNIWEB (08480), entered into a sale and purchase agreement with Time IT IN E (Pantai Timur) Sdn. Bhd., an independent third party, to acquire a property for a total consideration of RM6.1 million (approximately HKD11.59 million).

The property consists of a freehold land parcel measuring approximately 2,060 square meters under GM 8266, Lot 87592, Mukim Klang, Daerah Klang, Negeri Selangor, along with a single-story semi-detached factory and a two-story office building (total built-up area of 14,200 square feet). The property's tax address is No. 8 (PT 87592), Jalan Spring 34/23, Seksyen 34, 40470 Shah Alam, Selangor Darul Ehsan.

The board believes the acquisition offers significant strategic, operational, and financial benefits. The buyer has leased the property for the past 15 years, using it as a packaging area to support its factory operations. Located adjacent to the buyer's existing facility, the purchase ensures high synergy and operational efficiency.

Owning the property eliminates reliance on landlords and mitigates risks related to rental hikes or non-renewal of leases, providing long-term stability. It also avoids substantial relocation costs and operational disruptions. Given the site's proven suitability for the buyer's business, the acquisition ensures continuity and convenience for employees, suppliers, and logistics arrangements.

Financially, converting recurring rental expenses into a tangible asset strengthens the buyer's balance sheet. Full ownership also allows greater control over renovations, upgrades, and future expansion plans. Additionally, industrial properties typically offer capital appreciation potential over the long term.

Overall, the acquisition represents a strategic investment that supports operational continuity and delivers long-term financial benefits.