The Board of Directors of Bonvests Holdings Limited announced that the Company, through its wholly-owned subsidiary, PT Bali Vista Indah, has entered into agreements on 6 January 2021 with PT Milenium Dewata Bersama and Mr. Cokorda Gde Bagus Widiastawa to acquire approximately 65,639 square meters of land located in the Ubud area of Melinggih Kelod Village, Payangan District, Gianyar Regency, Bali, Indonesia (the "Properties"). The total consideration for the acquisition is IDR 65,639,000,000 exclusive of taxes and acquisition costs. The acquisition of the above Properties is in the ordinary course of business of the Company and the total consideration constitutes less than 5% of the Group's market capitalization as at 6 January 2021.