Further to the announcement on 22 September 2008 (Ref No. CM-080922-55735), the Board of Directors of the Company wishes to announce that its wholly-owned subsidiary, Icon Line (Malaysia) Sdn Bhd has subscribed for 22,050 shares of Rp100,000.00 each at par for a total cash consideration of Rp2,205,000,000.00 in the capital of PT Icon Freight Indonesia, representing 49% of the issued and paid-up share capital of PT Icon Freight Indonesia.

Financial effects on the investment in Indonesia

The investment is not expected to have a material effect on the earnings and net assets of the Company and its subsidiaries.

Directors' and Major Shareholders' Interest 

None of the Directors, major shareholders of the Company and/or persons connected with them has any interest, direct and/or indirect in the said investment.

Statement by Directors

The Board of Directors of the Company is of the opinion that the above investment is in the best interest of the Company.