*Subsequent to the end of reporting date of 30 September 2013, the price of quoted securities which the group has a significant stake experienced a sharp decrease in market price. Based on quoted securities price as at the close of 12 November 2013 and assuming that the quoted securities continue to trade at around this price level, the negative impact arising from fair value loss on the Group?s results for Quarter 4 ending 31 December 2013 would be approximately S$106 million.

The slowdown in the economic growth of China through affecting the South East Asian Countries export driven economic growth, has  caused a shift towards domestic consumption and reducing the reliance on exports. In the coming months, the Group will continue to  focus its strategy in Indonesia, Thailand, Malaysia and Singapore where the consumer consumption is still relatively strong.

The events immediately after the end of reporting date as at 30 September 2013 had caused a sharp decline in the share price of the  Company. The Company expects to face challenges in its fund raising activities in its fund management business in the coming months  ahead.

For the significant events after the end of reporting date of 30 September 2013, the management would also like to refer to the  announcements made by the Company on 17 October 2013 ?Proposed Acquisition of 27.5% of Class B units in Black Elk Energy  Offshore Operations LLC? and on 30 October 2013 ?Proposed Convertible Loan Facility of up to S$25 million?.