“Unless otherwise stated, the terms used in this announcement shall carry the same meaning as defined in the Company's announcements dated 22 December 2016, 23 December 2016, 4 January 2017 and 31 March 2017.”

Further to the announcements made by the Company on 22 December 2016, 23 December 2016, 4 January 2017 and 31 March 2017, the Board of Directors of the Company (“Board”) wishes to announce that:

1. MAHB has acknowledged receipt of the agreed settlement of Ringgit Malaysia One Million and Five Hundred Thousand (RM1,500,000.00) only; and

2. MAHB has withdrawn their Notice of Arbitration dated 22 December 2016.

The agreed settlement is borne by HSSI’s insurer pursuant to its professional indemnity insurance policy, save for an excess amount of Ringgit Malaysia One Hundred and Fifty Thousand (RM150,000.00) only to be contributed by HSSI under the terms of the insurance coverage.

Based on the above, the Board is of the view that the agreed settlement will not have any material impact on the financial and operational position, order book and future earnings of the Group.

This announcement is dated 3 April 2017.