(Unless otherwise stated, all abbreviations used in this announcement shall have the same meaning as defined in the Company’s circular to shareholders in relation to the Proposals dated 21 January 2021)

We refer to the Company’s announcements dated 2 October 2020, 20 January 2021, 21 January 2021, 5 February 2021 and 8 February 2021 in relation to the Proposals.

On behalf of the Board, Maybank IB wishes to announce that the Company and the Vendors have on 22 February 2021 mutually agreed to terminate the SSPA in relation to the Proposed Acquisition of Bumilex due to the non-fulfilment of the conditions precedent as set out in the SSPA which requires the parties to the SSPA to obtain, among others, the written approval of UKAS, JPM for the change in shareholders of Bumilex arising from the Proposed Acquisition of Bumilex.

As a consequence of the termination, the SSPA shall be deemed null and void and of no further effect whatsoever, and none of the parties to the SSPA shall have any claims against the others for costs, damages, compensation or otherwise, save for any claim arising from any antecedent breach by the parties.

In view of the termination of the SSPA, the Montflex SHA will also be rescinded.

This announcement is dated 22 February 2021.