CIRCULAR TO SHAREHOLDERS IN RELATION TO THE:- (I) PROPOSED JOINT DEVELOPMENT PROJECT BETWEEN FAJARBARU BUILDER GROUP BHD ("FBG" OR THE "COMPANY") AND THE PENANG DEVELOPMENT CORPORATION KNOWN AS MEDICITY IN BATU KAWAN, PENANG THROUGH A PURCHASE AND DEVELOPMENT ARRANGEMENT ENTAILING THE PROPOSED ACQUISITION BY FBG LAND SDN BHD (FORMERLY KNOWN AS FAJARBARU LAND (M) SDN BHD), A WHOLLY-OWNED SUBSIDIARY OF FBG, OF A PARCEL OF LAND MEASURING APPROXIMATELY 51.172 ACRES LOCATED IN BANDAR CASSIA, BATU KAWAN, PENANG FOR A PURCHASE CONSIDERATION OF RM111,452,616.00 TO BE SATISFIED ENTIRELY IN CASH ("PROPOSED ACQUISITION"); AND (II) PROPOSED CHANGE OF THE COMPANY'S NAME FROM "FAJARBARU BUILDER GROUP BHD" TO "FBG HOLDINGS BERHAD" ("PROPOSED CHANGE OF NAME") (COLLECTIVELY REFERRED TO AS THE "PROPOSALS")