Reference is made to the Company’s announcement on 29 December 2020 and 31 December 2020 in relation to the execution of project agreements for the investment project of Song Hau 2 Thermal Power Plant in Vietnam.

The Board of Directors of Toyo Ventures Holdings Berhad (“TVHB” or “the Company”) is pleased to announce that Song Hau 2 Power Company Limited (“the BOT Company” or “the Song Hau 2 Power”), a wholly-owned subsidiary of Toyo Ink Group Berhad (“TIGB”) had on 31 December 2020 executed the Power Purchase Agreement (“”PPA”) with Vietnam Electricity (“EVN”) for the investment and development of “Song Hau 2 Thermal Power Plant Project” in Vietnam (“the Project”).

The PPA provides for EVN to purchase and the BOT Company to sell electricity generating capacity generated by the Facility for twenty-five (25) years after the commercial operation date (“COD”) of the Facility as stipulated under the PPA. The tariff charged by the BOT Company to EVN comprises the capacity charge, energy charge and supplemental charge.

None of the directors, major shareholders of the Company and/or any of the persons connected with them, have any interest, whether direct and/or indirect, in the Project.

TVHB will make the necessary announcement on the progress of the Project to Bursa Securities when there are material developments in relation to the Project.

This announcement is dated 4 January 2021.