Further to the announcement dated 13 March 2024, the Liquidator wishes to update the shareholders on the status of liquidation of the Company:-

1. Tax Clearance:

Tax clearance is required to be obtained from the Inland Revenue Board (“IRB”) on the affairs of the Company before a final distribution can be made to entitled shareholders. Barring unforeseen circumstances, the tax clearance of the Company is expected to be obtained within 4 months from the submission of the tax clearance application to the IRB. The issuance of the tax clearance letter is subject to the discretion of the IRB and is determined on a case-by-case basis.

2. Final Distribution to Entitled Shareholders

Final distribution will be made to entitled shareholders upon receipt of the tax clearance. Further announcement will be made on the details of the final distribution in due course.

This announcement is dated 1 April 2024.