Reference is made to the Company’s announcement of 23 December 2019 in connection with the above mentioned matter.

Pursuant to Rule 10.09 of the ACE Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of the Company (“Board”) wishes to announce that its wholly-owned subsidiary company, XW Aquaculture Sdn Bhd (“XW”) had entered into and is expected to enter into recurrent related party transactions of a revenue or trading nature which are necessary for the Group’s day-to-day operations (“RRPT”) which equal or exceed RM1 million or 1% of the percentage ratios, whichever is lower, and which have yet to be mandated, for the period from 1 December 2019 until the conclusion of the forthcoming 15th Annual General Meeting (“AGM”) (which must be held no later than 30 June 2020) or an Extraordinary General Meeting (“EGM”) whichever is earlier.

The details of the announcement are set out in the attached file.

This announcement is dated 31 December 2019.