On behalf of the Board of Directors of FEHB ("Board"), UOB Kay Hian Securities (M) Sdn Bhd ("UOBKH") wishes to announce that the Company proposes to undertake the following:-

i. diversification of the existing principal activities of FEHB and its subsidiaries ("FEHB Group" or the "Group") to include the wholesale, distribution, retail of consumer electronic goods and related activities ("Consumer Electronics Business") ("Proposed Diversification"); and

ii. a renounceable rights issue of up to 242,192,937 new ordinary shares in FEHB ("FEHB Share(s)" or "Share(s)") ("Rights Share(s)") on the basis of 1 Rights Share for every 1 existing FEHB Share held, together with up to 121,096,468 free detachable warrants in FEHB ("Warrant(s) B") on the basis of 1 Warrant B for every 2 Rights Shares subscribed for, on an entitlement date to be determined and announced later ("Proposed Rights Issue with Warrants").

(collectively, referred to as the "Proposals")

Further details of the Proposals are set out in the attachment enclosed.

This announcement is dated 7 June 2023.