To become a leading integrated property developer and builder that focus on community living and quality

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3 Vision & Mission Awards Corporate Calendar About Us Corporate Information Corporate Structure From The Board of Directors Chairman s Statement Director s Profile Governance Corporate Governance Statement Audit Committee s Report Risk Management & Internal Control Statement Corporate Sustainability 35 Corporate Social Responsibility Statement To become a leading integrated property developer and builder that focus on community living and quality development Financial Reports Financial Highlights Directors Report Statement By Directors Statutory Declaration Independent Auditors report to the members of IWCity Statements of Comprehensive Income Statements of Financial Position Statements of Changes in Equity Statements of Cash Flows Notes to the Financial Statements Additional Information List of Properties Analysis of shareholdings Other Disclosure Notice of 47 th AGM Statement Accompanying Notice of 47 th AGM Form of Proxy

4 2 Iskandar Waterfront City Berhad (8256-A) Awards Property Man 2015 Tan Sri Dato Lim Kang Hoo FIABCI Malaysia

5 Iskandar Waterfront City Berhad (8256-A) 3 Awards cont d The Malaysian Property Press Awards : Best Waterfront Development Botanika iproperty Choice Awards Waterfront Botanika by Iskandar Waterfront City Bhd on being Highly Commended as Most Luxurious Residential Project Waterfront Botanika Most Luxurious Residential Project Botanika Condominium by Iskandar Waterfront City Bhd on winning Best Affordable Luxury High-Rise Development Botanika Condominium Best Affordable Luxury High - Rise Development The River Tebrau by Iskandar Waterfront City Bhd on winning Catalyst Mixed Development Masterplan The River Tebrau- Catalyst Mixed Development Masterplan

6 4 Iskandar Waterfront City Berhad (8256-A) Corporate Calendar 9th Dinner with Johor Bahru Chinese Chamber of Commerce & Industry ( JBCCCI ) with a talk entitled - The Fundamental of Real Estate 2015 by Mr Chris Tan, the Founder and Managing Partner of Chur Associates at Renaissance Hotel, Permas Jaya, Johor 21st Southern Crest Development Sdn Bhd, a wholly-owned subsidiary of IWCity entered into a shareholders agreement with Greenland Malaysia Real Estate Operator Sdn Bhd to regulate their relationship as shareholders of Greenland Tebrau Sdn Bhd ( Shareholders Agreement ), to acquire property and undertake the development and construction of a mixed development comprising of commercial and residential components ( Mixed Development Project ) 10th Appointment of Mr. Izaddeen bin Daud as a Non Independent Non-Executive Director 13th Announcement of the unaudited quarterly report on consolidated results for the financial period ended 31 December th Chap Goh Mei Celebration at Danga Bay Convention Centre, Johor Bahru, Johor 23rd, 24th & 25th Iskandar Carnival Danga Bay, Johor Bahru, Johor 22nd Announcement of the Annual Audited Accounts for the financial year ended 31 December rd Tebrau Bay Sdn Bhd, a wholly-owned subsidiary of IWCity entered into a conditional sale and purchase agreement with Greenland Tebrau Sdn Bhd for the disposal of three (3) pieces of land measuring in aggregate acres, located in Mukim Plentong, District of Johor Bahru, State of Johor for a cash consideration of RM2,373,079,016 22nd Bayou Management Sdn Bhd, a wholly-owned subsidiary of IWCity entered into a conditional sale and purchase agreement with Bahagia Wangsa Sdn Bhd for the acquisition of 67.5 acres comprising 3 adjoining parcels of freehold land within Mukim of Pulai, District of Johor Bahru, Johor for a purchase consideration of approximately RM156 million

7 Iskandar Waterfront City Berhad (8256-A) 5 Corporate Calendar Cont d 21st Announcement of the unaudited quarterly report on consolidated results for the financial period ended 31 March th Issuance of Annual Report for financial year ended 31 Dec 2014 and Circular for Renewal of Shareholders Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature 27th Extraordinary General Meeting regarding the Proposed Land Acquisition ( Sutera Land ) measuring approximately 67.5 acres by Bayou Management Sdn Bhd, a wholly owned subsidiary of IWCity from Bahagia Wangsa Sdn Bhd 27th Announcement of the unaudited quarterly report on consolidated results for the financial period ended 30 June th Appointment of Mr. Abd Razak bin Mohd Yusoff as an Alternate Director to Mr. Izaddeen bin Daud 16th 46th Annual General Meeting 17th Mr.Wong Khai Shiuan was appointed as Chief Executive Officer 8th Iftar Ramadhan at Hotel Jen, Puteri Harbour, Johor 8th Appointment of Mr. Lim Chen Herng as an Alternate Director to Tan Sri Dato Lim Kang Hoo 9th Acquisition of two (2) wholly-owned subsidiaries, namely Trillion Greencity Sdn. Bhd. and Success Straits Sdn. Bhd., for the purpose of business expansion, business development and business exploration 30th Announcement of the unaudited quarterly report on consolidated results for the financial period ended 30 September th Extraordinary General Meeting regarding the: 1. Proposed New Additional Mandate for Recurrent Related Party Transactions of a Revenue or Trading Nature; and 2. Proposed Establishment of a Joint Venture between Southern Crest Development Sdn Bhd, a wholly-owned subsidiary of IWCity, Greenland Malaysia Real Estate Operator Sdn Bhd ( Greenland Malaysia ) and Greenland Tebrau Sdn Bhd ( Greenland Tebrau ).

8 Corporate Information ABOUT US IWCity was incorporated on 31 December IWCity is an investment holding company and has 7 wholly-owned subsidiaries within the Group. The principal activities of its subsidiaries are property development, construction activities and property management services.

9 Iskandar Waterfront City Berhad (8256-A) Corporate Information 7 BOARD OF DIRECTORS Dato Hj Ayub bin Mion Independent Non-Executive Chairman Tan Sri Dato Lim Kang Hoo Executive Vice Chairman Lim Keng Guan Executive Director Wong Khai Shiuan Executive Director / Chief Executive Officer Izaddeen bin Daud Non-Independent Non-Executive Director Khoo Boon Ho Senior Independent Non-Executive Director Bernard Hilary Lawrence Independent Non-Executive Director Cho Joy Cho Yok Lon Independent Non-Executive Director Mohd Salleh bin Othman Independent Non-Executive Director Chow Yoon Sam Independent Non-Executive Director Lim Foo Seng Independent Non-Executive Director Abd Razak bin Mohd Yusoff Alternate Director to Izaddeen Bin Daud Lim Chen Herng Alternate Director to Tan Sri Dato Lim Kang Hoo Prof Emeritus Azman bin Awang, PhD. Independent Non-Executive Director (Resigned w.e.f. 29 March 2016) AUDIT COMMITTEE NOMINATION COMMITTEE REMUNERATION COMMITTEE RISK MANAGEMENT COMMITTEE TENDER AWARD COMMITTEE Khoo Boon Ho Chairman Dato Hj Ayub bin Mion Cho Joy Cho Yok Lon Lim Foo Seng Bernard Hilary Lawrence Chairman Dato Hj Ayub bin Mion Khoo Boon Ho Cho Joy Cho Yok Lon Lim Foo Seng Bernard Hilary Lawrence Professor Emeritus Azman bin Awang, PhD. Chairman (Resigned w.e.f. 29 March 2016) Bernard Hilary Lawrence Lim Foo Seng Khoo Boon Ho Professor Emeritus Azman bin Awang, PhD. Chairman (Resigned w.e.f. 29 March 2016) Tan Sri Dato Lim Kang Hoo Wong Khai Shiuan Khoo Boon Ho REGISTERED OFFICE Suite 1301, 13th Floor City Plaza,Jalan Tebrau Johor Bahru, Johor Darul Ta zim Tel No : Fax No : PRINCIPAL BANKERS Affin Bank Berhad AmIslamic Bank Berhad Bank Kerjasama Rakyat Malaysia Berhad CIMB Bank Berhad RHB Bank Berhad COMPANY SECRETARIES Woo Min Fong (MAICSA ) Lim Aik Yong (MAICSA ) SHARE REGISTRAR Tricor Investor & Issuing House Services Sdn. Bhd. Unit 32-01, Level 32, Tower A Vertical Business Suite Avenue 3, Bangsar South No. 8 Jalan Kerinchi, Kuala Lumpur. Tel : Fax : is.enquiry@my.tricorglobal.com SOLICITORS Messrs. Dennis Nik & Wong Suite , Level 6 Bangunan ANG No. 1, Jalan Jeram, Taman Tasek Johor Bahru Messrs. T. J. Goh & Co. L4-76 Level 4 Danga City Mall, Jalan Tun Abdul Razak Johor Bahru Messrs. Tea, Kelvin Kang & Co. Suite 8-1, Level 8, Menara Pelangi, Jalan Kuning, Taman Pelangi Johor Bahru Messrs. Mah-Kamariyah & Philip Koh 3A07, Block B, Phileo Damansara II 15 Jalan 16/11, Off Jalan Damansara Petaling Jaya, Selangor PRINCIPAL PLACE OF BUSINESS G08, Block 8, Danga Bay, Jalan Skudai, Johor Bahru, Johor Darul Ta zim Tel No : Fax No : AUDITORS Messrs. Ernst & Young 11.2A Level 11, Menara Pelangi Jalan Kuning, Taman Pelangi Johor Bahru, Johor Darul Ta zim STOCK EXCHANGE LISTING Main Market, Bursa Malaysia Securities Berhad STOCK CODE 1589 STOCK NAME IWCITY SECTOR Properties Website:

10 8 Iskandar Waterfront City Berhad (8256-A) Corporate Structure SUBSIDIARIES ASSOCIATES 100% Tebrau Bay Constructions Sdn Bhd (42888-D) (Construction) Incorporated in Malaysia (8256-A) 100% Bayou Bay Development Sdn Bhd ( P) (Property Development) 100% Tebrau Bay Sdn Bhd ( X) (Property Development) 100% Southern Crest Development Sdn Bhd ( D) (Investment Holding) 100% Trillion Greencity Sdn Bhd ( W) (Dormant) 100% Bayou Management Sdn Bhd ( K) (Property Management) 30% Tropicana Danga Senibong Sdn Bhd ( X) (Property Development) 49% Aset Nusantara Development Sdn Bhd ( T) (In liquidation) 20% Greenland Tebrau Sdn Bhd ( P) (Property Development) 100% Success Straits Sdn Bhd ( H) (Dormant)

11 The Group notched up a commendable performance despite the challenging environment with total revenue of RM182 million for its financial year ended 31 December Net profit for the financial year came in at almost double of the previous year s performance at RM6.8 million. FROM THE BOARD OF DIRECTORS

12 10 Iskandar Waterfront City Berhad (8256-A) Chairman s Statement Dato Dato Hj. Hj. Ayub Ayub bin Mion bin Mion Chairman Chairman Dear Valued Shareholders, 2016 is set to be an eventful year as Iskandar Malaysia celebrates its 10th year as the country s foremost development region. The Iskandar Regional Development Authority (IRDA) announced that Iskandar Malaysia has achieved almost half of its target of attracting RM383 billion in committed investments in key sectors such as manufacturing, education and healthcare. Recently, an important announcement for Iskandar Malaysia was made on the Bus Rapid Transit (BRT) system which will improve connectivity within Iskandar Malaysia. Covering almost 90% of Iskandar Malaysia, the BRT is expected to come on stream in During the year, we have continued to grow our presence, establishing ourselves as a major property player in the Iskandar Malaysia region. I am pleased to note that the Group notched up a commendable performance despite the challenging environment with total revenues of RM182 million for its financial year ended 31 December 2015 as compared to RM158 million for the previous financial year ended 31 December Net profit for the financial year came in at almost double of the previous year s performance at RM6.8 million. This is in spite of the various challenges which we have faced during the past year such as the devaluation of ringgit, implementation of Goods & Services Tax, tightening credit to property investors and other factors including the slowdown of the global economy. Nonetheless we remain optimistic for the forthcoming years as we continue to implement our plans to return value to shareholders.

13 Iskandar Waterfront City Berhad (8256-A) Chairman s Statement co nt d 11 Major Events Our RM2.4 billion deal with China s largest property developer, the Greenland Group shook the Malaysian property market with the signing of the sale & purchase agreement in April 2015, quickly followed by the ground breaking ceremony of the new Greenland Tebrau metropolis in July We are tremendously excited to be partnering the Greenland Group in this 128 acres waterfront mixed-use development located in the International Zone of Iskandar, boasting of an opera house, international school, snow park, retail mall and residential components. This deal is regarded as the new pricing benchmark for neighbouring land and thus enhancing the overall value of our 1,000+ acres land bank. From a financial perspective the sales proceeds will bring a boost to our balance sheet with a gain of RM1.89 per share even before taking into account our share of the profits from the development with an estimated Gross Development Value of RM18.4 billion. In order to build our presence on the western side of Johor Bahru, the Group acquired a strategically located piece of freehold land measuring 67.5 acres near Taman Sutera, an established housing and commercial estate, less than 20 km from the city for approximately RM156 million which is earmarked for mixed development. A compulsory land acquisition by the State Government of two parcels of our land measuring acres for RM170 million was completed during 2015 forming part of a larger transaction which involves IWCity acquiring 228 acres of freehold waterfront land from the Government, allowing us to expand our land bank at an attractive price. In 2014, we entered in a joint venture with Tropicana Corporation Berhad for the sale and development of 60 acres of land. However, this deal was aborted on 23 September 2015 due to unforeseen circumstances. Prospects With one of the most attractive tracts of waterfront properties in the country, IWCity s prospects remain bright. We will continue to grow our property development through a combination of in-house development and also choosing strategic partners to accelerate our growth whilst conserving capital. We are carefully monitoring the property market conditions to establish the ideal time for our next launches which are likely to be in the residential and landed commercial segments. We look forward to the finalisation of the High Speed Rail to Kuala Lumpur and also the rapid transit system between Johor Bahru and Singapore. These two important transportation systems will provide enhanced connectivity between the cities and accelerate the growth in Iskandar Malaysia. Dividend In 2014, we had announced that the Board had decided to implement a dividend policy in line with our objective of returning value to all our shareholders. However due to the downturn in the property market and to maintain liquidity, we will not be declaring a dividend in respect of the financial year ended Corporate Responsibilities It is vital for the Group to be a more responsible corporate citizen and give back to society. Following our contribution of SJK (C) Pei Hwa 2 School in Permas Jaya in 2014, this year we continued to complete the project by the construction of an access road to the school. The completion of the road will also enhance the value of our property in the surrounding area. IWCity is committed towards the rehabilitation of the long abandoned project known as Taman Bayu Tebrau which is located near our riverside land. Targeted to be completed by end-2017, this will provide a much needed solution to the 460 purchasers of units in this project and bring new life to this neighbourhood. IWCity is a keen supporter of soccer and has committed to sponsoring the construction of the Johor Darul Ta zim Football Club Indoor Training Pitch. This is expected to be the first indoor training pitch in South East Asia and is being built according to the requirements and specifications set by Federation Internationale de Football Association (FIFA).

14 12 Iskandar Waterfront City Berhad (8256-A) Chairman s Statement co nt d Corporate Governance The Board firmly believes that corporate governance plays a key role in ensuring sustainability and stability for the Group s continued success. I am pleased to note that the Group practises a high level of corporate governance. During the financial year, we have introduced our statement on the Code of Conduct, a Board Charter and a Whistleblower Policy, ensuring continuous improvement of governance practices. The Board continues to maintain a majority of Independent Directors to ensure good governance is practiced and to provide a check-and-balance on all decisions made by the Board. This policy will continue in Awards On behalf of the Board, I would like to take this opportunity to congratulate our Executive Vice Chairman, Tan Sri Dato Lim Kang Hoo for his recent receipt of Property Man 2015 award at the 23rd Malaysia Property Awards held by the International Real Estate Federation (FIABCI) in November At the Malaysian Property Press Awards held in November 2015, Botanika Waterfront Villas was named as the Most Luxurious Residential Project ; Botanika High-rise Condominium as Best Affordable High-rise development and The River Tebrau Bay received the Outstanding Achievement Award in Catalyst Mixed Development Masterplan. Acknowledgements We bid farewell to Professor Emeritus Azman Bin Awang who recently tendered his resignation from the Board due to other business commitments. Mr Chow Yoon Sam and Mr Cho Joy Leong have also decided not to seek re-election as directors at the forthcoming Annual General Meeting. On behalf of the board, I would like to thank them for their invaluable contributions to the Company, the Board of Directors and the various committees which they served over the years. We also welcome Mr Wong Khai Shiuan as Chief Executive Officer and look forward to seeing the Group brought to greater heights under his leadership. We wish to also express our gratitude to the government authorities, our bankers, business associates and most importantly our esteemed shareholders for their continued support in the Group. A big thank you also goes out to our Board members for their invaluable advice and support, not forgetting of course the management and staff who worked tirelessly throughout the year. DATO HJ AYUB BIN MION Chairman

15 Iskandar Waterfront City Berhad (8256-A) Director s Profile 13 Dato Ayub was appointed to the Board on 3 March He graduated with a Bachelor of Arts (Hons.), Degree from University Malaya in He joined the Johor State Civil Service on 14 June 1970 as Kota Tinggi Assistant District Officer and Assistant Collector of Land Revenue. He remained in the Land Administration for 17 years with his last post as Deputy Director of Land and Mines, Johor. He was appointed as the lecturer on Land Laws at University Technology Malaysia for final year Land Survey students due to his vast and long practice in land laws. He authored more than a dozen Land Law Practice Guidelines for Land Officers in Johor, the most well-known being Setiausaha Kerajaan Johor Pekeliling Tetap No. 1 of 1983, The Procedure On One Stop Centre in the process of land conversion and subdivision by way of Surrender and Realienation which had greatly improved the process time for approval. He retired as the State Secretary of Johor. Upon his retirement in 2003, he was appointed as Development Advisor to the State Government. At the same time he was appointed as the Chairman of Cahaya Jauhar Sdn Bhd, a joint venture company between the State Government and UEM Land Sdn Bhd. The company was responsible for planning and developing Kota Iskandar, the New Administrative Centre of Johor in Iskandar Puteri. Dato hj. ayub bin mion (Independent Non-Executive Chairman) Malaysian, age 68 While he was the District Officer of Muar and the President of Muar District Council, he was awarded a scholarship for a 1 month stint at Columbia School of Business, Columbia University, USA for a certificate course on Turn Around. While he was the Johor State Director of the Economic Planning Unit, and in collaboration with CDRC, he helped to turn around many of the state investment agencies and companies during the infamous economic downturn of late 90s and early Dato Ayub was appointed to QSR Brands Berhad/KFC Holdings (Malaysia) Berhad s Board from 2011 till He also holds directorship in several private limited companies. Dato Ayub does not have any family relationships with any Director and/or major shareholder of the Company. He has no conflict of interest with Iskandar Waterfront City Berhad and has no convictions for any offences within the last ten years.

16 14 Iskandar Waterfront City Berhad (8256-A) Director s Profile co nt d Tan Sri Dato Lim was appointed to the Board on 3 July 2012 and he was then appointed as Executive Vice Chairman on 14 August Tan Sri Dato Lim is a businessman with over 38 years of experience in the construction industry and machinery related industry. He started his involvement in the construction industry soon after completing his secondary education, assisting the family construction business. His dynamism and vision coupled with experience saw the companies that he leads grow by leaps and bound. TAN SRI DATO LIM KANG HOO (Executive Vice Chairman) Malaysian, age 60 At present, he is the Executive Chairman of Ekovest Berhad, a Non-Independent Non-Executive Director of PLS Plantations Berhad, all of which are listed on the Main Market of Bursa Malaysia Securities Berhad and also a Director of several other private limited companies. His vast experience in the construction industry had been instrumental to the growth and development of the Iskandar Waterfront Group. Tan Sri Dato Lim is the father of Mr Lim Chen Herng. He is also the uncle of Mr. Lim Keng Guan and Mr. Wong Khai Shiuan. He has no conflict of interest with Iskandar Waterfront City Berhad and has no convictions for any offences within the last ten years. Mr. Wong Khai Shiuan has been on the Board since 18 February He was appointed as Chief Executive Officer on 17 June He graduated in 2003 with a Bachelor of Arts in Business Information Systems & Accounting from the University of Middlesex, UK. He has been with the Iskandar Waterfront Holdings ( IWH ) Group for the past ten years serving in various capacities and during his tenure has amassed considerable experience in management and property development & investment. Prior to joining the IWH Group he worked with Knusford Berhad in the marketing department. He is a director of Iskandar Waterfront Sdn Bhd and several other private companies. He is a nephew of Tan Sri Dato Lim Kang Hoo and cousin of Mr. Lim Keng Guan and Mr. Lim Chen Herng. He has no conflict of interests with the Company and MR WONG KHAI SHIUAN has not been convicted for any offences in the past 10 years. (Executive Director cum Chief Executive Officer) Malaysian, age 34

17 Iskandar Waterfront City Berhad (8256-A) Director s Profile co nt d 15 Mr. Lim was appointed to the Board on 5th July Mr. Lim holds a Diploma in Quantity Surveying and possesses more than 30 years of extensive commercial experience in property development, construction and construction-related activities. These include building and civil engineering works, design and build, turnkey projects, trading in building materials, reconditioning and rental of machinery. He was the Project Director of PLS Plantations Berhad, a public-listed company on the Main Market of Bursa Malaysia Securities Berhad, since its incorporation in In the year 2000, he joined the Iskandar Waterfront Holdings ( IWH ) Group of Companies and he was instrumental in the upgrading and reclamation works carried out by IWH Group of Companies. Mr. Lim is the Executive Chairman of Lim Seong Hai Holdings Sdn Bhd and he holds directorship in several private limited companies. Mr. Lim is the nephew of Tan Sri Dato Lim Kang Hoo and cousin to Mr. Wong Khai Shiuan and Mr. Lim Chen Herng. He has no conflict of interests in Iskandar Waterfront City Berhad or convictions for any offences in the past ten years. Mr LIM KENG GUAN (Executive Director) Malaysian, age 52 En. Izaddeen was appointed to the Board on 10 February He graduated in 1991 with a Bachelor Sc. (Hons) Degree in Accounting and Law from De Monfort University Leicester, United Kingdom. He was the Chief Executive Officer of ASM Investment Services Berhad from 2006 to 2008, Assistant Vice President of Permodalan Nasional Berhad from 1999 to 2006, Senior Manager of Perwira Affin Merchant Bank Berhad from 1993 to 1998, Senior Officer of Oriental Bank Berhad and Junior Auditor of Ernst & Young between 1991 to At present, he is an Executive Director of Australasia LNG Pty Ltd, a Director of Kumpulan Prasarana Rakyat Johor ( KPRJ ), Iskandar Investment Berhad, Johor Corporation Berhad, Universiti Utara Malaysia, Desaru Development Corporation, Permodalan Darul Takzim and also a Director of several other private limited companies. He does not have any family relationship with any Director or substantial shareholder of the company and has not been convicted of any offences within the past ten (10) years other than traffic offences and has no conflict of interest with Iskandar Waterfront City Berhad. EN IZADDEEN BIN DAUd (Non-Independent Non-Executive Director) Malaysian, age 47

18 16 Iskandar Waterfront City Berhad (8256-A) Director s Profile co nt d Mr. Khoo was appointed to the Board on 15 July Mr. Khoo, an accountancy graduate from Australia was admitted as a member of the Australian Society of Accountants in He is also a Fellow of the Institute of Certified Public Accountants of Singapore. Upon graduation, he joined a Singapore Public Accountant firm, as an auditor before joining Boustead Holdings Berhad in He was the Group Financial Controller when he resigned in 1975 to join Boustead Singapore Limited, a public limited company. He was the Deputy Managing Director when he left Boustead Singapore. He also holds directorship in several private limited companies. MR KHOO BOON HO (Senior Independent Non-Executive Director) Malaysian, age 76 Mr. Khoo does not have any family relationships with any Director and/or major shareholder of the Company. He has no conflict of interest with Iskandar Waterfront City and has no convictions for any offences. Mr. Bernard was appointed to the Board on 1 September Since graduating in 1990, Mr. Bernard has garnered considerable experience having served as Head of Legal Department for a local bank, as Legal Adviser to a subsidiary of Telekom Malaysia Berhad and as Group Legal Adviser to the Articulate Group of Companies. Since 2001, he has been the Managing Partner of Messrs B H Lawrence, Advocates & Solicitors. With his varied experience, Mr. Bernard has knowledge of the corporate and legal, as well as a practicing advocate and solicitor. Mr. Bernard holds a Bachelors Degree in Law (with Honours) from the University of Warwick, Coventry, England, a Masters Degree in Law from University of Malaya and is a Barrister of Grays Inn, London. MR BERNARD HILARY LAWRENCE (Independent Non-Executive Director) Malaysian, age 49 Currently, he also is an Independent Non-Executive Director in Knusford Berhad. He does not have any family relationships with any Director and/or major shareholder of the Company. He has no conflict of interest with Iskandar Waterfront City Berhad and has no convictions for any offences.

19 Iskandar Waterfront City Berhad (8256-A) Director s Profile co nt d 17 Mr. Cho Joy Cho Yok Lon was appointed to the Board on 18 March He graduated with a Bachelor of Engineering (Hons) Degree from the Universiti Malaya in He is a Registered Professional Engineer in Malaysia and a member of the Institution of Engineers, Malaysia. Upon graduation,he joined FELDA as an Engineer and served them until April During his stay with FELDA, he held various positions, including that of Senior Regional Engineer, Chief Engineer and Director of the Engineering Department, General Manager (Technical) of Felda Engineering Services Sdn Bhd and the General Manager of Felda Construction Sdn Bhd, a construction company within the Felda Group of Companies. He was appointed as an Executive Director of Ekovest Berhad on 2 May 1998 and redesignated as Non-Executive Director on 1Jan 2006 and as Independent Director on 26 May 2011 until his resignation on 16 May He does not have any family relationships with any Director and/or major shareholder of the Company. He has no conflict of interest with Iskandar Waterfront City Berhad and has no convictions for any offences. Mr. Cho has expressed his intention not to seek for re-appointment at the forthcoming 47th Annual Geneneral Meeting and hence, he will cease to act as a Director of the company at the close of the said meeting. MR CHO JOY CHO YOK LON (Independent Non-Executive Director) Malaysian, age 73 En. Mohd Salleh was appointed to the Board on 18 March He graduated with a B.Sc. (Hons) Degree in Housing, Building and Planning from Universiti Sains Malaysia. After graduation, he joined Petroliam Nasional Berhad ( Petronas ) where he served in various departments and divisions for a span of approximately 15 years. Some of the senior position he has held includes Management Executive of its Property Department from 1978 to 1981, Head of Building Section of its Special Projects Department from 1982 to 1984, Deputy Manager of its Property Development Department from 1985 to 1987, Manager of its Property Development Department from 1988 to 1989 and finally being promoted to Senior Manager of the same department in During his employment in Petronas, he acquired skills and invaluable experience in property development, property management, property maintenance and also project management. He left Petronas in 1993 to join Kuala Lumpur City Centre Bhd as the Deputy General Manager of its Real Estate Division. He was later promoted to Project Director of the Project Management Division in He resigned from Kuala Lumpur City Centre in 1995 and thereafter, he joined Ekovest Berhad and resigned from Ekovest Berhad, a year later. EN MOHD SALLEH BIN OTHMAN (Independent Non-Executive Director) Malaysian, age 63 Currently, he also is an Independent Non-Executive Director in Knusford Berhad. He does not have any family relationship with any Director or substantial shareholder of the company and has not been convicted of any offences within the past ten (10) years other than traffic offences and has no conflict of interest with Iskandar Waterfront City Berhad.

20 18 Iskandar Waterfront City Berhad (8256-A) Director s Profile co nt d Mr. Chow Yoon Sam was appointed to the Board on 27 March Mr. Chow graduated with a Bachelor Degree in Civil Engineering (Hons) from University of Malaya in He was a member of the Institute of Engineers Malaysia and Board of Engineers Malaysia. He started his career in 1971 as a Project Engineer on design and construction of Felda oil palm mills and rubber factories. He rose to the rank of Deputy Director of Engineering in 1980, being involved in administration and management of Felda development projects. In 1990 to 1994, he was the Project Consultant and Project Manager for Felda joint venture projects and he retired as the Senior General Manager of Felda Ekovest Sdn Bhd in He is also an Independent Non-Executive Director of Ekovest Berhad. MR CHOW YOON SAM (Independent Non-Executive Director) Malaysian, age 70 He does not have any family relationships with any Director and/or major shareholder of the Company. He has no conflict of interest with Iskandar Waterfront City Behad and has no convictions for any offences. Mr. Chow has expressed his intention not to seek for re-appointment at the forthcoming 47th Annual Geneneral Meeting and hence, he will cease to act as a Director of the company at the close of the said meeting. Mr. Lim Foo Seng is an Independent, Non-Executive Director of Iskandar Waterfront City Berhad appointed on 11 October He is a member of the Malaysian Institute of Certified Public Accountants and a member of the Malaysian Institute of Accountants. He has more than 25 years of experience in the finance and corporate sectors. From 1989 to 1995, he served in an international accounting firm, Deloitte Kassim Chan, where he acquired considerable knowledge, experience and exposure in management consultancy, taxation & accounting and auditing standards. MR LIM FOO SENG (Independent Non-Executive Director) Malaysian, age 45 From 1995 till 2003, he has worked with Arab-Malaysian Corporation Berhad Group ( Amcorp Group ) where he played a key role in the business & strategic planning, venture capital activities, corporate investments, corporate audit, corporate restructuring, general management and monitoring of portfolio companies involved in various diversified businesses such as retail, mall management, radio broadcasting, point of sales advertisement, bonded warehouse, magazine publication, IT and manufacturing, in his capacity as Associate Director. He also served as a board member of various portfolio companies of Amcorp Group. He left Amcorp Group in 2003 where his last position with Amcorp Group was Chief Financial Officer of MCM Technologies Berhad, an IT incubator and a subsidiary of Amcorp that was previously listed on the ACE Market of Bursa Malaysia Securities in which he played an instrumental role in its initial public offering. From 2003 to 2013, he held various senior management positions and served as a board member of various established private limited and public listed companies in Malaysia. Currently, he is the Finance Director cum Chief Strategy Officer of Winn Worldwide Sdn Bhd ( Winn Worldwide Group ). Winn Worldwide Group is principally involved in the business segment of the fashion industry and operates more than 20 retail stores nationwide under the concept store brand names of House-of-Leather, Country Hide and Kaufmann. Currently, he also is an Independent Non-Executive director of Knusford Berhad. He does not have any family relationship with any Director or substantial shareholder of the company and has not been convicted of any offences within the past ten (10) years other than traffic offences and has no conflict of interest with Iskandar Waterfront City Berhad.

21 Iskandar Waterfront City Berhad (8256-A) Director s Profile co nt d 19 En. Abd Razak was appointed to the Board on 11 June He graduated with Bachelor in Town and Country Planning from UTM and subsequently pursued his Post Graduate study in Land Economics at Nihon University Tokyo Japan. He joined YTL Construction Sdn. Bhd. in 1992 which exposed him to the construction industry specializing in the design and construction of the Nucleus Hospital projects. Later he joined Trans Resources Corporation Berhad (TRC) and involved in the construction of the Hotel Seri Malaysia chain. He was re-assigned to TRC Land Sdn Bhd a property subsidiary of TRC in 1996 overseeing various property development projects in Klang Valley and Johor. After 13 years in the Construction and Property Development in TRC Group, En. Abd Razak moved to Pelangi Sdn Bhd a renowned Property Developer in Johor as the Head of Southern Region in 2007.The Company was later merged in to I&P Group Sdn Bhd a wholly owned by Permodalan Nasional Berhad (PNB). With his extensive experience in the Construction and Property Development, in May 2015, En. Abd. Razak was offered to join Kumpulan Prasarana Rakyat Johor Sdn. Bhd., a Johor Government-Linked Company as the Chief Executive Officer. En. Abd Razak is non-independent non-executive director of PLS Plantations Berhad and also holds directorship in several private limited companies. He does not have any family relationship with any Director and/or major shareholder of the Company. He has no conflict of interest with the Company and has no convictions for any offences within the last ten years. EN ABD RAZAK BIN MOHD YUSOFF (Alternate Director to Izaddeen Bin Daud) Malaysian, age 52 Mr. Lim Chen Herng was appointed to the Board on 8 July He graduated with a Degree in Business Management from Royal Holloway, University of London in He has been with the family business since 2008, with management exposure in the property development, construction, finance and oil & gas industry. He also sits in the Board of several private limited companies, most notably the master developer Iskandar Waterfront Holdings Sdn Bhd, one of the substantial shareholders of Iskandar Waterfront City Berhad. At present, he is the Group Executive Director of Iskandar Waterfront Holdings Sdn Bhd where he oversees the business development and investment from the Group. Besides, he is also sitting on the Board of Knusford Berhad and acting as an alternate director in Ekovest Berhad. He is a son of Tan Sri Dato Lim Kang Hoo and cousin of Mr. Lim Keng Guan and Mr. Wong Khai Shiuan. He has no conflict of interests with the Company and has not been convicted for any offences in the past 10 years. MR LIM CHEN HERNG (Alternate Director to Tan Sri Dato Lim Kang Hoo) Malaysian, age 28