“Unless otherwise stated, definitions in this announcement shall carry the same meaning as defined in the Company's announcement dated 15 August 2016."

Further to the Company’s announcement on 15 August 2016, the Board of Directors of the Company wishes to further announce that the Company had on 13 August 2016 accepted the letter of appointment from IJMC-KEB Joint Venture.

The Contract is expected to commence at the end of the fourth quarter of 2016 and is expected to be completed within the second quarter of 2020.

The risk factors affecting the Contract include, but not limited to, execution risks such as availability of skilled manpower and dependency on the progress of the construction works given the Contract is to supervise the execution of the construction works. HEB Group has, throughout the years, established its track record and expertise to undertake such projects. As such, the Board believes that the Group is able to mitigate the aforesaid risk factors.

This announcement is dated 17 August 2016.