We refer to the announcement dated 23 January 2017 (“Initial Announcement”) in respect of the above subject matter.

Unless otherwise stated, the definitions used throughout this announcement shall have the same meaning as defined in the Initial Announcement.

The Board of Directors of the Company wishes to provide herewith the following additional information in relation to the Proposed Acquisition:-

1. The breakdown of the source of funds from internally-generated funds and bank borrowings for the Proposed Acquisition cannot be determined at this juncture. However, the Company is currently reviewing offers from banks for financing up to 80% of the Total Purchase Price. The breakdown of the source of funds will be decided by the Company at a later stage, after taking into consideration the Aemulus Group’s gearing level, interest costs as well as internal cash requirements for its working capital.
2. The Company expects to commence the construction of the proposed office building in the 2nd half of 2017, assuming that the approvals from the relevant state authorities and PDC are obtained by June 2017. The construction work requires approximately eighteen (18) months to complete i.e December 2018. However, in the event of a delay in obtaining the approvals from the relevant states authorities and PDC, the completion of the construction of the proposed office building will be delayed, accordingly.

This announcement is dated 24 January 2017.