On 26 March 2021, the Company announced its wholly-owned subsidiary APPI Sdn. Bhd. (“APPI”) had entered into a Turnkey Agreement with Howellcare Industries Sdn. Bhd. (“Howellcare”), to appoint Howellcare as a turnkey contractor to plan, design, supply, install and commission 2 Nitrile Butadiene Rubber (“NBR”) double former glove dipping production lines together with 4 lines of utilities support system at the Group’s existing factories located at Jalan Logam 3, Kawasan Perindustrian Kamunting Raya, 34600 Kamunting, Perak (“Glove Production Plant”) as well as to provide services including setting up and providing training to APPI’s new operation team to run and manage the day-to-day operation of the Glove Production Plant as well as undertake all marketing and sale of the NBR gloves for the initial stage for a total contract price of RM39.80 million (“Turnkey Agreement”).

Pursuant to the Turnkey Agreement, the Board of Directors of CSH wishes to announce that APPI has on 22 March 2022 entered into a Letter of Termination with Howellcare (APPI and Howellcare shall hereinafter be collectively referred to as the “Parties” and individually referred to as a “Party”) and the Parties have mutually agreed to terminate the Turnkey Agreement.

Please refer to the attached for further details.

This announcement is dated 22 March 2022.