General Announcement::ANNOUNCEMENT BY LUMINOR FINANCIAL HOLDINGS LIMITED, A 83.17%-OWNED SUBSIDIARY

LUMINOR FINANCIAL HOLDINGS LIMITED

(Company Registration Number: 201131382E)

(Incorporated in the Republic of Singapore)

REPOSSESSION OF DEVELOPMENT PROPERTY LAND IN FULING DISTRICT, CHONGQING,

PEOPLE'S REPUBLIC OF CHINA ("PRC")

The Board of Directors ("Board") of Luminor Financial Holdings Limited (formerly known as Starland Holdings Limited) (the "Company" and together with its subsidiaries, the "Group") refers to the Company's announcement dated 27 March 2019 (the "Announcement"), in relation to the repossession of development property land in Fuling District, Chongqing, PRC. Unless otherwise defined in this announcement, all capitalised terms used herein shall bear the same meaning as in the Announcement.

The Board wishes to update that the Company's wholly-owned subsidiary, Chongqing Gangyuan Property Development Co., Ltd ("Gangyuan"), has received an offer of RMB42,940,100 (the "Offer") as compensation for repossession of the Land from the Fuling District local authority on 11 November 2021.

Gangyuan has 30 days from the date of the Offer to accept the Offer. Otherwise, Gangyuan has 60 days from the date of the Offer to apply for administrative reconsideration to the Chongqing government or directly file a lawsuit with the Chongqing Nanchuan District Court within 6 months. The management and the Board are currently deliberating the Offer.

The Repossession will have no material impact on the operations of the Group for the financial year ending 31 December 2021 as the Group has not commenced any work on the Land. The Land has a book value of RMB8,413,000 as at 30 September 2021. The financial impact of the Repossession can be determined only when the Board has made a decision on whether or not to accept the Offer.

None of the Directors and the controlling shareholders of the Company has any interest, direct or indirect, in the Repossession, save for their respective shareholdings in the Company.

The Company will make further announcements as and when there is any further development on this matter.

BY ORDER OF THE BOARD

Kwan Yu Wen

Executive Director

12 November 2021

This announcement has been prepared by Luminor Financial Holdings Limited (formerly known as Starland Holdings Limited) (the "Company") and its contents have been reviewed by the Company's sponsor, UOB Kay Hian Private Limited (the "Sponsor") for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Mr Lance Tan, Senior Vice President, at 8 Anthony Road, #01- 01, Singapore 229957, telephone [phone].