By Unless otherwise defined, all capitalised terms used herein shall bear the same meaning as in the Company's announcements dated 13 August 2013, 23 August
2013, 10 September 2013, 9 October 2013 and 19 November 2013 (the
"Announcements").
The Company refers to the Announcements in relation to the request for suspension of trading in shares of the Company on the Main Board of the SGX-ST as from 9 a.m. on 14 August 2013 and the updates subsequent thereto.
The Board would like to inform shareholders as follows:-
1. There has not been any major update since the last announcement made by the Company on 19 November 2013.
2. The Company is still in the process of negotiating with the banks in the PRC and Hong Kong for the rescheduling of the relevant loan repayments as at the date of this announcement.
As at the date of this announcement, the Company has not received any notice of legal proceedings having been commenced against the Company by any bank in Hong Kong in connection with the loans default.
3. There has not been any material change in the daily operations of the Group since the Company's last announcement dated 19 November 2013.
4. The Group's 2Q and 3Q results announcements are due to be released by the extended deadline of 14 January 2014. The Company is currently in the process of seeking a further extension of the said deadline and will provide shareholders with an update in this regard in due course.
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Trading in the shares of the Company on the SGX-ST has been suspended from 9 a.m. on 14 August 2013 and will remain suspended until further notice.
BY ORDER OF THE BOARD
Lead Independent Director
Audit Committee Chairman
14 January 2014
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