The Board of Directors of MCIL wishes to announce that PT Sinchew Indonesia, an 80%-owned indirect subsidiary company incorporated in Indonesia, had been placed under members' voluntary dissolution in accordance with Article 142, Number 40 of 2007 concerning limited liability company, the law of the Republic of Indonesia (the “Voluntary Dissolution”). Ms Jennifer Soelystio has been appointed as the Liquidator for the Voluntary Dissolution.

PT Sinchew Indonesia was incorporated in Indonesia on 10 August 2012, with a total issued share capital of USD1.5 million. It was previously engaged in the distribution and circulation of a Chinese language newspaper – “Harian Indonesia” in Indonesia. It had ceased all business operations and has no intention to carry on business or operations in the future.

The Voluntary Dissolution of PT Sinchew Indonesia will not have any material impact on the consolidated earnings and net assets of MCIL Group for the financial year ending 31 March 2022.

None of the directors, major shareholders of MCIL or persons connected to them, has any interest, whether direct or indirect in the Voluntary Dissolution.

This announcement is dated 25 January 2022.