The Co wishes to update...the JV Agreement announced on 20 Jan 2012, Wee Hur (Punggol Ctrl) P/L has awarded the contract for the construction work to be done on Land Parcel...at Punggol Central (the " Contract" ) to Wee Hur Construction P/L, a wholly-owned subsidiary of the Co at a total contract price of S$150,000,000.00 exclusive of GST.

As announced on 20 January 2012, Wee Hur (Punggol Central) is Wee Hur Development P/L and ZACD P/L. The Co holds 65% of the shareholding of Wee Hur (Punggol Central) through Wee Hur Development P/L, which is a wholly-owned subsidiary of the Company.

Contract includes - proposed construction of condo housing development comprising 8 blks of 16-storey residential building (total 618 units) with 2 basement carparks, tennis court, swimming pools, clubhouse facilities and other ancillary, comprising of but not limited to piling works, building works, mechanical and electrical works and external works including all hardscape and softscape.

Contract is not expected to have material impact on the consolidated net tangible assets per share and consolidated earnings per share of the Grp for the financial year ending 31 Dec 2012.

By Order of the Board

Tan Ching Chek Company Secretary Date : 7 December 2012