Asia Enterprises : Discontinuance Of Quarterly Reporting Of Financial Statements

ASIA ENTERPRISES HOLDING LIMITED

(Company Registration No. 200501021H)

(Incorporated in Singapore)

(the "Company")

DISCONTINUANCE OF QUARTERLY REPORTING OF FINANCIAL STATEMENTS

Following the amendments to the Listing Rules of the Singapore Exchange Securities Trading Limited ("SGX-ST") which took effect from 7 February 2020 (the "Amended Listing Rules"), companies listed on SGX-ST will not be required to release their financial statements on a quarterly basis.

The Board of Directors (the "Board") of Asia Enterprises Holding Limited (the "Company", and together with its subsidiaries, the "Group") wishes to inform that after due deliberation, it has decided not to continue with quarterly reporting of the Company's and the Group's unaudited financial statements. Instead, the Company will announce the unaudited financial statements of the Company and the Group on a half-yearly basis, as required under the Amended Listing Rules.

Specifically, the Company will, in respect of each of the financial years, announce only the financial statements of the Company and the Group for its half-year ending 30 June not later than 45 days after the end of the financial period, and for the full year ending 31 December by not later than 60 days after the end of the financial period, as required under the Amended Listing Rules.

Notwithstanding the foregoing, the Board would like to assure shareholders that the Company will comply with its continuing disclosure obligations to keep shareholders updated as and when appropriate, should there be any material developments relating to the Company or the Group.

By order of the Board

Lee Yih Chyi

Managing Director

8 April 2020