We attach herewith the announcement made on 3 December 2019 to the Singapore Exchange Securities Trading Limited ("SGX-ST") by Parkson Retail Asia Limited ("PRA"), a 67.96% owned subsidiary of the Company listed on the SGX-ST, in relation to the notice of inclusion on the watch-list with effect from 4 December 2019.  

PRA had announced that following the Notice of 3 Consecutive Years' Losses released by PRA on 7 October 2019, the SGX-ST has notified PRA that PRA will be placed on the watch-list with effect from 4 December 2019 ("Inclusion on Watch-list").

The Inclusion on Watch-list does not have any impact on the earnings of the Group for the financial year ending 30 June 2020 and the net assets of the Group based on the audited consolidated statement of financial position of the Company as at 30 June 2019.