Reference is made to the Company’s announcement dated 30 April 2019 in relation to the incorporation of a subsidiary company, the Board of Directors of LYC wishes to announce that LYC has on 5 November 2020 acquired Forty-Nine (49) ordinary shares in the share capital of LYC Cosmetic & Aesthetic Sdn Bhd [Registration No. 201901015380 (1324708-T)] ("LYC Cosmetic"), which representing Forty-Nine percent (49%) of LYC Cosmetic’s ordinary shares from Xing Dao International Pte. Ltd. (Company No. 201801391W) for a cash consideration of Ringgit Malaysia Forty-Seven Thousand Five Hundred Thirty-Five and Sixty-Seven Cents (RM47,535.67) only.

That upon the completion of the acquisition, LYC Cosmetic has become a wholly-owned subsidiary of LYC.

The acquisition is not expected to have any material financial or operational impact on the Company for the financial year ending 31 March 2021.

This announcement is dated 6 November 2020.