The Board of Directors of the Company wishes to announce that, the Company had incorporated a subsidiary namely S-Cnergy Co., Ltd. ('S-Cnergy') in Kingdom of Cambodia.

The issued and paid-up share capital of USD10,000 comprising 10,000 ordinary shares of USD1.00 each. The principal activities of S-Cnergy is to carry out the business of import and export of kitchen supplies. The Director of S-Cnergy is Mr. Cher Lip Chun.

As at the date of incorporation of S-Cnergy, Mr. Cher Lip Chun held 10,000 ordinary shares of USD1.00 each in S-Cnergy. Mr. Cher was authorised by the Board of Directors of SCCH to subscribe for 10,000 shares on behalf of SCCH. The said shares is currently held in by Mr. Cher and will be transferred to SCCH after completion of the incorporation of S-Cnergy. Thereafter, S-Cnergy will become a wholly-owned subsidiary company of SCCH.

Save as disclosed above, none of the Directors, substantial shareholders and persons connected with the Directors or substantial shareholders of the Company, has any interest, direct or indirect, in the incorporation of S-Cnergy. The incorporation is not expected to have any material effects on the earnings or net assets of the SCCH for the financial year ending 31 December 2019.

This announcement is dated 25 March 2019.