The Board of Directors of the Company wishes to announce that its 37% owned dormant associate company, namely Pinang Water Ltd. (“PWL”) with Company Number. LL 3802 has been placed under members' voluntary winding-up ("winding-up") pursuant to Section 131 of the Labuan Companies Act 1990 on 10 December 2018.

The voluntary winding-up of PWL is part of YLI’s efforts to streamline operations and optimize overall efficiencies since PWL has ceased to generate income with the disposal entire equity interest in Yichun Pinang Water Co. and water treatment business to Yinlong Water Affairs Investment Limited, subsidiary of China Water Affairs Group Ltd in 2016.

The winding-up of PWL will not have any material effect on the consolidated earnings or net assets of the Company for the financial year ending 31 March 2019.

None of the Directors or major Shareholders of the Company or persons connected to them has any interest, direct or indirect, in the winding-up of PWL.

The Board of Directors of the Company is of the opinion that the above winding-up is in the best interest of the Group.

This announcement is dated 10 December 2018.