The Company wishes to announce that as at 31 July 2017 the total amount of Recurrent Related Party Transactions ("RRPTs") entered into by TCH Marine Pte Ltd (Registration No. 199205692R), a subsidiary of the Company with 1st Cornerstone Investment Pte Ltd (Registration No. 200402467R) has exceeded 10% of the estimated value of transactions as disclosed in the Company's Circular to Shareholders dated 31 October 2016 (“the Circular”).

The estimated value of RRPTs as disclosed in the Circular was RM3,000,000 ("Estimated Value"). The actual value of RRPTs transacted, from 29 November 2016, being the date on which the existing mandate was obtained up to 31 July 2017 was RM3,343,208 ("Actual Value").

The difference amounted to RM343,208 or 11.44% between the Actual Value and the Estimated Value was due to more business transactions were conducted.

This announcement is dated 8 September 2017.