We refer to the announcements dated 20 January 2020, 13 March 2020 and 18 March 2020 ("Announcements").

(Unless otherwise defined, the abbreviations used throughout this announcement are the same as those previously defined in the Announcements.)

On behalf of the Board, Affin Hwang IB wishes to announce that the Company had on 8 May 2020 submitted an application to Bursa Securities to seek for an extension of time to issue the circular to its shareholders in relation to the Proposed Bonus Issue by 21 May 2020 ("Extension of Time") to comply with Paragraph 9.33(1)(b) of the Listing Requirements. Bursa Securities had, vide its letter dated 13 May 2020, resolved to grant Dufu the Extension of Time.

This announcement is dated 14 May 2020.