The Board of Directors of Hap Seng Consolidated Berhad wishes to announce that its wholly-owned subsidiary, MML Marketing Pte. Ltd. (“MML Marketing”), has on even date received a notification from Accounting and Corporate Regulatory Authority of Singapore (“ACRA”) to inform that MML Marketing, was successfully struck off from ACRA on 6 May 2024.

MML Marketing was incorporated in Singapore on 25 July 2003 as a private limited company. MML Marketing was principally involved in trading and distribution of porcelain and ceramic tiles and was a dormant company since 31 March 2022. MML Marketing is a wholly-owned subsidiary of Malaysian Mosaics Sdn Bhd, which in turn is the wholly-owned subsidiary of HSCB.

Prior to the striking off, MML Marketing had an issued and paid-up share capital of SGD 200,000.00 comprising 200,000 ordinary shares.

The striking off of MML Marketing would not have any material effect on the earnings and net assets of HSCB Group for the financial year ending 31 December 2024.

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 striking off of MML Marketing.

cc: Securities Commission