The Board of Directors of Hap Seng Consolidated Berhad wishes to announce that the Company has on even date received notification from the Ministry of Commerce of Thailand that MML Ceramic (Thailand) Co., Ltd (Company No.: 0105559117161) (“MML Thailand”), a wholly-owned subsidiary of the Company had been successfully dissolved.

MML Thailand was incorporated in Thailand on 1 August 2016 as a private limited company and was dormant since incorporation. The shareholders of MML Thailand are Malaysian Mosaics Sdn Bhd, MML Marketing Sdn Bhd and MML Marketing Pte. Ltd., all of which are the wholly-owned subsidiaries of the Company.

Prior to the dissolution, MML Thailand had an issued and paid-up share capital of Baht 10,000,000 comprising 100,000 ordinary shares of Baht 100 each.

The dissolution of MML Thailand would not have any material effect on the earnings and net assets of HSCB Group for the financial year ending 31 December 2021.

To the best of the knowledge of the directors, none of the directors or major shareholders or persons connected to the directors or major shareholders of the Company has any interests, direct or indirect, in the said dissolution of MML Thailand.

cc: Securities Commission