Reference is made to SGB's announcements dated 3 December 2019, 3 January 2020, 21 January 2020, 3 February 2020, 2 March 2020, 1 April 2020, 4 May 2020 and 1 June 2020 ("Announcements"). Unless otherwise defined, the terms herein shall bear the same meaning as defined in the Announcements.
 
The Board of Directors of the Company wishes to announce that the Company is in the midst of formulating a regularisation plan to address its financial condition.
 
The Company has approximately fourteen (14) months to submit its regularisation plan to the relevant regulators for approval.
 
The Company will make necessary announcement with regard to any development on the above matter.
 
This announcement is dated 1 July 2020.