The Company wishes to announce that on 21 April 2021, BHIC Submarine Engineering Services Sdn Bhd (“BSES”) (Company No: 200301092901),  a wholly owned subsidiary of BHIC, has accepted the Letter of Acceptance dated 7 April 2021 from the Ministry of Defence Malaysia representing the Government of Malaysia, awarding BSES a contract for the Submarine Facilities Upkeep for the Royal Malaysian Navy (“Contract”) at a contract value of Ringgit Malaysia Seventy Eight Million, One Hundred Forty One Thousand, Four Hundred and Forty Only (RM78,141,440.00) for a contract period of twenty four (24) months from 1 January 2021 until 31 December 2022. A formal contract between the Government of Malaysia and BSES will be finalised and executed at a later date.

The Contract will contribute positively to the earnings of the BHIC Group for the financial year ending 31 December 2021.

None of the directors or substantial shareholders of the Company, or persons connected with them, has any interest, direct or indirect, in the Contract.

This announcement is dated 22 April 2021