The Disposal and Yarra Park Subscription were completed on 7 August 2017 and 8 August 2017 respectively.

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1 OSK HOLDINGS BERHAD ( OSKH OR COMPANY ) PROPOSED PROVISION OF FINANCIAL ASSISTANCE 1. INTRODUCTION The Board of Directors of OSKH ( Board ) wishes to announce that the Company is proposing to provide financial assistance through OSKH and/or its subsidiaries to Yarra Park City Pty Ltd ( Yarra Park ), an associate company of OSKH, in the form of cash advances, corporate guarantees, indemnities and/or collaterals for banking facilities to be obtained by Yarra Park from financial institutions, up to an aggregate amount of Australian dollar ( AUD ) million, which is in proportion to its current shareholding in Yarra Park held via its subsidiary, P.J. (A) Pty Limited ( PJA ) ( Proposed Provision of Financial Assistance ). Pursuant to Paragraph 8.23(1) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad ( Bursa Securities ) ( Listing Requirements ), the provision of cash advances, corporate guarantees, indemnities and/or collaterals for banking facilities to be obtained by Yarra Park from financial institutions by OSKH and/or its subsidiaries for the benefit of Yarra Park (an associate company of OSKH) are deemed to be a provision of financial assistance. Further to the above, pursuant to Paragraph 8.23(2)(c) of the Listing Requirements, as the expected quantum of the Proposed Provision of Financial Assistance is more than 5% of the net tangible assets ( NTA ) of OSKH and its subsidiaries ( Group ), the Company is required to issue a circular to its shareholders and seek its shareholders approval in a general meeting. 2. BACKGROUND On 5 April 2017, the Board announced that: PJ Development Holdings Berhad ( PJD ), a subsidiary of the Company, has on 5 April 2017 entered into a share sale agreement with Employees Provident Fund Board ( EPF ) for the disposal of 100 ordinary shares in Yarra Development Holdings (Australia) Sdn Bhd ( Yarra Holdings ) representing the entire equity interest in Yarra Holdings for a consideration of RM ( Disposal ); and Yarra Australia Development Pty Ltd ( Yarra Australia ), a subsidiary of Yarra Holdings, has on 5 April 2017 entered into a share subscription agreement with Yarra Park to subscribe for 110,490,197 ordinary shares in Yarra Park ( Yarra Park Shares ) representing at least 49% of the enlarged issued share capital of Yarra Park for a consideration of AUD154.0 million ( Yarra Park Subscription ). The Disposal and Yarra Park Subscription provide an opportunity for OSKH to partner with EPF to undertake a large scale mixed-use development in Melbourne, Australia to be developed by Yarra Park. Please refer to the details of the said development project as detailed in Section 2.5 of this announcement. The Disposal and Yarra Park Subscription were completed on 7 August 2017 and 8 August 2017 respectively. Upon completion of the Disposal and Yarra Park Subscription, the details of the shareholders and their respective shareholdings in Yarra Park are as detailed in Section 2.1 of this announcement. 1

2 On 8 August 2017, Yarra Australia paid the share subscription amount of AUD154.0 million to Yarra Park pursuant to the Yarra Park Subscription. The details of utilisation of the subscription amount as at 20 September 2017 (being the latest practicable date prior to this announcement ( LPD )) are as follows: Repayment of existing bank loan and shareholders advances (1) Amount Amount utilised as at LPD Unutilised amount as at LPD (AUD 000) (AUD 000) (AUD 000) Estimated timeframe for utilisation 62,722 62, Working capital of Yarra Park (2) 91,278 7,039 84,239 By end of 2018 Total 154,000 69,761 84,239 Notes: (1) Comprising loan drawn down and advances from shareholders which were mainly utilised for working capital of Yarra Park and to partly finance the land acquisition cost. (2) Working capital requirements of Yarra Park include, amongst others, construction costs, sales and marketing expenses, land holding-related expenses, other administration and operating expenses. 2.1 Information on Yarra Park Yarra Park was incorporated in New South Wales, Australia on 20 May Yarra Park is principally engaged in property investment and development. As at the LPD, the issued share capital of Yarra Park is AUD269,000,000 comprising 225,490,197 Yarra Park Shares. The existing shareholders of Yarra Park are as follows: Shareholders No. of Yarra Park Shares % Yarra Australia 110,490, PJA 86,250, Equity & Property Investment Corporation Pty Limited ( EPIC ) 28,750, Total 225,490, The existing directors of Yarra Park are Tan Sri Ong Leong Wong Joo Hwa ( Tan Sri Ong ) (Ong Ju Yan as Alternate Director to Tan Sri Ong), Wong Chong Shee, Ong Ju Xing, Dato Mohamad Nasir Ab Latif, Rohaya Mohammad Yusof and Mohd Auzir Zakri Abd Hamid. As at the LPD, Yarra Park does not have any subsidiary nor associate company. 2

3 2.2 Information on Yarra Australia Yarra Australia was incorporated in New South Wales, Australia on 29 March Yarra Australia is principally engaged in investment holding. As at the LPD, the issued share capital of Yarra Australia is AUD154,003,899 comprising 154,003,899 ordinary shares in Yarra Australia. Yarra Australia is a wholly-owned subsidiary of Yarra Holdings, a company incorporated in Malaysia, which in turn is wholly-owned by EPF after the completion of the Disposal on 7 August The existing directors of Yarra Australia are Isham Shafarin Ishak and Terence Vincent Slattery. As at the LPD, save for Yarra Park (a 49%-owned associate company), Yarra Australia does not have any subsidiary nor associate company. 2.3 Information on PJA PJA was incorporated in New South Wales, Australia on 1 November PJA is principally engaged in investment holding and hotel business. As at the LPD, the issued share capital of PJA is AUD3.00 comprising 3 ordinary shares in PJA. PJA is a wholly-owned subsidiary of Pengerang Jaya Pte Ltd, a company incorporated in Singapore, which in turn is a wholly-owned subsidiary of PJD. OSKH has 96.91% equity interest in PJD as at the LPD. The existing directors of PJA are Tan Sri Ong, Wong Chong Shee, Ong Ju Xing and Terence Vincent Slattery. As at the LPD, the associate companies of PJA are as follows: Company name Principal activity Effective equity interest held by PJA EPIC Property investment and development Yarra Park Property investment and development (1) (%) Note: (1) Based on PJA s direct equity interest in Yarra Park of 38.25% and EPIC s equity interest in Yarra Park of 12.75% as at the LPD. PJA does not have any subsidiary as at the LPD. 2.4 Information on EPIC EPIC was incorporated in Victoria, Australia on 27 June EPIC is principally engaged in property investment and development. As at the LPD, the issued share capital of EPIC is AUD51,936,000 comprising 46,153,954 ordinary shares in EPIC. 3

4 The substantial shareholders of EPIC as at the LPD are as follows: Substantial Shareholders No. of ordinary shares in EPIC % Tan Sri Ong 19,148, Itarki Pty Ltd 13,408, PJA 12,645, The existing directors of EPIC are John Edward Lightfoot, Tan Sri Ong, Wong Chong Shee, Ong Ju Yan, Hwang Lip Koon, Hwang Lip Teik and Tan Ming Tek. As at the LPD, the subsidiaries and associate company of EPIC are as follows: Company name Subsidiaries Principal activity Effective equity interest held by EPIC (%) EPIC Hotels Pty Limited Dormant EPIC Investments Pty Limited Dormant EPIC Properties Pty Limited Dormant Equity & Property Nominees Pty Limited EPIC Leisure Pty Limited Property investment Property investment and development EPIC Doncaster Pty Limited Property investment Associate company Yarra Park 2.5 Details of the Development Project Property investment and development Yarra Park holds the rights to develop a project namely Melbourne Square, a mixeduse development with total gross floor area of 411,840 square metres ( m 2 ) comprising: (iv) (v) Phase 1 two residential towers and a retail component; Phase 2 one residential tower and a retail component; Phase 3 one residential tower and a retail component; Phase 4 one office tower and a retail component; and Phase 5 one hotel tower and a retail component; at Kavanagh Street, Southbank in Melbourne, Australia with a land area of 20,259 m 2 ( the Project ). 4

5 The planning permit for the masterplan of the Project was approved on 21 December 2015 and Phase 1 of the Project ( Phase 1 Development ) was endorsed on 14 February 2017 by the Victoria State Government. Based on the current masterplan, the estimated gross development value ( GDV ) of the Project is approximately AUD2.8 billion. The exact GDV can only be ascertained when the development of the Project is completed. Phase 1 Development is expected to commence in November 2017 and targeted to complete by the end of The entire development of the Project is expected to take between 8 to 10 years to complete. 2.6 Funding Required for the Project Financing for Phase 1 Development The estimated financing required to fund the working capital requirements of Yarra Park for the Phase 1 Development is approximately AUD619.0 million which is expected to be funded by the following: Existing shareholders fund available in Yarra Park as at the LPD is AUD269.0 million which was funded by the existing shareholders of Yarra Park ( Yarra Park Shareholders ) via their subscription to the Yarra Park Shares as follows: Shareholders AUD Yarra Australia 154,000,000 PJA 86,250,000 EPIC 28,750,000 Total 269,000,000 Several financial institutions, namely Maybank Investment Bank Berhad, Bank of China (Malaysia) Berhad and Standard Chartered Bank (collectively, the Lenders ) have provided their commitment to participate in the syndicated term loan facility for the amount of AUD350.0 million ( Loan Facility ). As at the LPD, Yarra Park is in the midst of finalising the facility agreement in respect of the Loan Facility, subject to the provision of the required corporate guarantees from OSKH and EPIC. [The rest of this page has been intentionally left blank] 5

6 Based on the commitment letter dated 28 June 2017, the salient terms and conditions of the Loan Facility offered are set out below: Borrower : Yarra Park Facility amount : Senior Secured Syndicated Term Loan Facility of up to AUD350.0 million Purpose : Part finance the gross development cost for Phase 1 Development Final maturity date : Up to 3.5 years from the date of first drawdown or upon completion of the Phase 1 Development, whichever is earlier Security (major) : Legal mortgage over the Project s land Corporate guarantees from OSKH and EPIC (to be in proportion to their respective shareholdings) for all amount due and payable under the Loan Facility Letter of Comfort from EPF in a form satisfactory to the Lenders Subsequent to the commitment letter dated 28 June 2017, Industrial and Commercial Bank of China (Malaysia) Berhad, Labuan International Branch has also provided commitment to participate in the Loan Facility. Financing for the Remaining Phases of the Project The development for the remaining phases of the Project (i.e., Phase 2 to Phase 5) is planned to be undertaken in sequence. Based on the latest development plan and depending on the prevailing market conditions, the development of Phase 2 is expected to commence in the 4 th quarter of An estimated additional financing of up to AUD150.0 million will be required to part finance the development of the Phase 2 of the Project after considering factors such as the expected commencement date of Phase 2 and the progress of Phase 1 Development. The additional financing required is expected to be funded by banking facilities to be obtained from financial institutions. OSKH and EPIC are expected to provide corporate guarantees, indemnities and/or collaterals (based on their respective proportion of equity interest in Yarra Park) in respect of the banking facilities to be obtained. In the event Yarra Park is unable to secure any banking facilities, OSKH and/or its subsidiaries may be required to fund the Project via cash advances in proportion to its equity interest in Yarra Park. The management of Yarra Park intends to fund the working capital requirements in respect of development of Phase 3 to Phase 5 of the Project by utilising the cash inflows to be derived from the sales under Phase 1 and Phase 2 of the Project. However, should there be any interest to purchase Phase 4 or Phase 5 of the Project ahead of the planned commencement dates (i.e., end of 2020 and end of 2021, respectively), the management of Yarra Park estimates that an additional funding of AUD150.0 million will be required for each phase. 6

7 The total estimated additional financing required for Phase 2 to Phase 5 of the Project is as follows: in the event all phases commence in sequence as planned, an additional financing of up to AUD150.0 million will be required (the aggregate financing of up to AUD500.0 million will be required, including Phase 1 Development); or in the event there is an interest to purchase Phase 4 or Phase 5 of the Project ahead of the planned commencement dates, an additional financing of up to AUD300.0 million will be required (the aggregate financing of up to AUD650.0 million will be required, including Phase 1 Development). While Yarra Park will be the borrower of the Loan Facility and/or the banking facilities to be obtained, OSKH and EPIC will be required to provide corporate guarantees, indemnities and/or collaterals in proportion to their respective shareholdings in Yarra Park. The development phases and funding requirement of the Project may change depending on the following: market demand and supply; construction cost fluctuation; and regulatory changes. 3. DETAILS OF THE PROPOSED PROVISION OF FINANCIAL ASSISTANCE Pursuant to Paragraph 8.23(1) of the Listing Requirements, the provision of cash advances, corporate guarantees, indemnities and/or collaterals for banking facilities to be obtained by Yarra Park from financial institutions by OSKH and/or its subsidiaries for the benefit of Yarra Park (an associate company of the Company) are deemed to be a provision of financial assistance. Further to the above, pursuant to Paragraph 8.23(2)(c) of the Listing Requirements, as the expected quantum of the Proposed Provision of Financial Assistance is more than 5% of the NTA of the Group, the Company is required to issue a circular to its shareholders and seek its shareholders approval in a general meeting. Based on the funding requirements of Yarra Park for the development of the Project, OSKH envisage to provide financial assistance in the form of cash advances, corporate guarantees, indemnities and/or collaterals with an aggregate amount of AUD250.0 million, which is in proportion to its current shareholding in Yarra Park held via its subsidiary, PJA. As set out in Section 2.6 of this announcement, OSKH and EPIC will be required to provide corporate guarantees, indemnities and/or collaterals (based on their respective shareholdings in Yarra Park) in favour of financial institutions for the Loan Facility and additional banking facilities to be granted to Yarra Park in respect of the Project. The corporate guarantees, indemnities and/or collaterals are expected to subsist throughout the respective tenure of the Loan Facility and the additional banking facilities to be granted to Yarra Park or until the full and final repayment of the Loan Facility and additional banking facilities, whichever is earlier, in accordance with the terms and conditions of the Loan Facility and additional banking facilities by the financial institutions. 7

8 The details of the financial assistance to be provided by OSKH and/or its subsidiaries in favour of Yarra Park are as follows: Description Corporate guarantee for the Loan Facility of up to AUD350.0 million Cash advances, corporate guarantees, indemnities and/or collaterals for banking facilities of up to AUD150.0 million to be obtained for Phase 2 of the Project Additional cash advances, corporate guarantees, indemnities and/or collaterals for banking facilities of up to AUD150.0 million to be obtained for Phase 4 or Phase 5 of the Project (2) Amount of financial assistance AUD133,875,000 (1) AUD57,375,000 (1) AUD57,375,000 (1) Cash advances for contingency funding for the Project Total AUD1,375,000 AUD250,000,000 Notes: (1) Based on PJA s equity interest in Yarra Park of 38.25%. (2) Assuming there is an interest to purchase Phase 4 or Phase 5 of the Project ahead of the planned commencement dates. Based on the current estimates, the above amount of financial assistance to be provided by OSKH and/or its subsidiaries in favour of Yarra Park should be able to cater for any changes in the sequence of the development phases of the Project. Any additional financial assistance to be provided by OSKH and/or its subsidiaries in excess of the quantum specified under the Proposed Provision of Financial Assistance shall require a separate approval from the Company s shareholders. [The rest of this page has been intentionally left blank] 8

9 4. RATIONALE FOR THE PROPOSED PROVISION OF FINANCIAL ASSISTANCE The Proposed Provision of Financial Assistance is to ensure that Yarra Park has access to the required funding to finance the working capital requirements for the entire development of the Project. Corporate guarantees, indemnities and/or collaterals to be provided by OSKH are required to assist Yarra Park to secure the Loan Facility and additional banking facilities to finance the working capital requirements of Yarra Park for the Project. As Yarra Park does not have established operating records, it will be difficult for Yarra Park to secure the Loan Facility and additional banking facilities from the financial institutions for the quantum that is required to meet the funding requirements of the Project without any corporate guarantees, indemnities and/or collaterals from OSKH and EPIC. The availability of expedient funding would help to avoid unnecessary delays throughout the development period of the Project and to ensure timely completion of the Project, which is expected to contribute positively to the earnings of the Group upon realisation of the expected profits from the Project. The Board is of the opinion that the Proposed Provision of Financial Assistance is preferred as compared to raising equity capital of Yarra Park after considering the following factors: (iv) External financing would enable Yarra Park to undertake the Project without requiring its shareholders to inject additional equity; Leveraging through loans would enable Yarra Park to generate higher returns for its shareholders; It is a norm for holding company in property development to provide corporate guarantees, indemnities and/or collaterals to its subsidiaries or associate companies to secure banking facilities for development projects; and The Proposed Provision of Financial Assistance is in proportion to the shareholding of OSKH and/or its subsidiaries in Yarra Park, which is deemed as fair and reasonable. 5. RISK FACTORS The Group is involved in property development and as such, is already exposed to the risks inherent in the property development industry. The risk factors relating to the Proposed Provision of Financial Assistance include, but not limited to, the following: (a) Risk of default by Yarra Park The corporate guarantees and/or indemnities will be recognised as contingent liabilities in the Group s financial statements and may be called upon or claimed by the financial institutions in any event of default by Yarra Park in respect of the Loan Facility and/or the additional banking facilities to be obtained, which as a consequence, OSKH will be required to repay the indebtedness of Yarra Park to the financial institutions. Hence, in the event the corporate guarantees and/or indemnities are called upon or claimed, it will have an adverse impact on the financial position of the Group, including exposure to foreign exchange fluctuation. 9

10 Nevertheless, the Group will continuously monitor and review the Loan Facility and the additional banking facilities to be obtained by Yarra Park and its cash flows to ensure Yarra Park s ability to meet its debt obligations is not compromised throughout the development period of the Project. 6. EFFECTS OF THE PROPOSED PROVISION OF FINANCIAL ASSISTANCE The Proposed Provision of Financial Assistance will not have any effect on the issued share capital and substantial shareholders shareholdings of OSKH. In addition, the Proposed Provision of Financial Assistance will not have any material effect on the net assets, gearing and earnings of the Group for the financial year ending 31 December 2017, assuming that the corporate guarantees and/or indemnities are not called upon or claimed. The Proposed Provision of Financial Assistance is expected to contribute positively to the future earnings of the Group upon realisation of the expected profits from the Project. Notwithstanding the above, in the event that Yarra Park does not meet its debt obligations to the financial institutions, OSKH will be required to assume Yarra Park s debt obligations up to the guaranteed amount under the corporate guarantees and/or compensate for the losses or damages claimed under the indemnities, which will have adverse effects on the earnings and net assets of the Group. 7. APPROVALS REQUIRED The Proposed Provision of Financial Assistance is subject to the approval of the noninterested shareholders of OSKH being obtained at an extraordinary general meeting ( EGM ) to be convened. The Proposed Provision of Financial Assistance is not conditional upon any other corporate exercises undertaken or to be undertaken by the Company. 8. INTERESTS OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED WITH THEM Save as disclosed below, none of the directors, major shareholders and/or persons connected with them have any interest in the Proposed Provision of Financial Assistance: Tan Sri Ong, the major shareholder and Executive Chairman of OSKH, is also an indirect shareholder of Yarra Park (other than by virtue of his interest via OSKH) by virtue of his interest of 41.49% in EPIC which has 12.75% equity interest in Yarra Park. Accordingly, Tan Sri Ong is deemed interested in the Proposed Provision of Financial Assistance. In view of Tan Sri Ong s interest in the Proposed Provision of Financial Assistance, the following major shareholders of OSKH are deemed interested in the Proposed Provision of Financial Assistance: Puan Sri Khor Chai Moi ( Puan Sri Khor ), being the spouse of Tan Sri Ong; OSK Equity Holdings Sdn Bhd ( OSK Equity ), where Tan Sri Ong is the substantial shareholder and director; and Land Management Sdn Bhd ( Land Management ), where Tan Sri Ong is a substantial shareholder. (collectively referred to as the Interested Major Shareholders ) 10

11 The Interested Major Shareholders will abstain and have also undertaken to ensure that any persons connected with them will abstain from voting (in respect of their direct and/or indirect shareholdings in OSKH, if any) on the resolution pertaining to the Proposed Provision of Financial Assistance at the EGM to be convened. In addition, the following directors of OSKH are deemed interested in the Proposed Provision of Financial Assistance due to the following: Ong Ju Yan (the Group Managing Director of the Company), being the son of Tan Sri Ong; Ong Ju Xing (the Deputy Group Managing Director of the Company), being the son of Tan Sri Ong; and Ong Yee Ching (a Non-Independent Non-Executive Director and a member of Audit Committee of the Company), being the daughter of Tan Sri Ong. (collectively referred to as the Interested Directors ) Tan Sri Ong and the Interested Directors has abstained and will continue to abstain from all deliberations and voting at the relevant board meetings of the Company in respect of the Proposed Provision of Financial Assistance. Tan Sri Ong and the Interested Directors will abstain and have also undertaken to ensure that any persons connected with them will abstain from voting (in respect of their direct and/or indirect shareholdings in OSKH, if any) on the resolution pertaining to the Proposed Provision of Financial Assistance at the EGM to be convened. The direct and indirect interests of Tan Sri Ong, the Interested Directors and the Interested Major Shareholders as at the LPD are as follows: Interested major shareholder and director Direct No. of ordinary shares in OSKH % Indirect No. of ordinary shares in OSKH % Tan Sri Ong 90,457, ,482,516 (1) Interested Major Shareholders Puan Sri Khor 19,575, ,815,003 (2) OSK Equity 374,975, Land Management 168,281, Interested Directors Ong Ju Yan 16,491, ,645,134 (3) 0.12 Ong Ju Xing 14,722, ,068,708 (4) 0.22 Ong Yee Ching 8,444, ,187 (5) 0.01 Notes: (1) Deemed interested by virtue of his substantial shareholdings in OSK Equity, Land Management and Dindings Consolidated Sdn Bhd ( Dindings Consolidated ) pursuant to Section 8(4) of the Companies Act, 2016 ( Act ) and his spouse, Puan Sri Khor and children, Ong Yee Min and Ong Yin Suen s shareholdings in the Company pursuant to Section 59(11) of the Act. 11

12 (2) Deemed interested by virtue of her substantial shareholdings in Land Management, Dindings Consolidated and Ladang Setia Sdn Bhd pursuant to Section 8(4) of the Act. (3) Deemed interested by virtue of his spouse, Melissa Tan Hui-Ping s shareholding in the Company pursuant to Section 59(11)(c) of the Act. (4) Deemed interested by virtue of his substantial shareholding in Ladang Setia Sdn Bhd pursuant to Section 8(4) of the Act and his spouse, Chew Sue Synn s shareholding in the Company pursuant to Section 59(11)(c) of the Act. (5) Deemed interested by virtue of her spouse, Robert Angelo Hendro Santoso Huray s shareholding in the Company pursuant to Section 59(11)(c) of the Act. 9. TRANSACTIONS WITH THE SAME RELATED PARTY Save for the Proposed Provision of Financial Assistance, the recurrent related party transactions ( RRPT ) which are entered into pursuant to the shareholders mandate obtained at the OSKH s Annual General Meetings held on 19 April 2016 and 19 April 2017 and the RRPT which are not required to be announced pursuant to Paragraph 10.09(1)(a) of the Listing Requirements, there are no other transactions with Tan Sri Ong for the preceding twelve (12) months prior to the date of this announcement. 10. INDEPENDENT ADVISER In view of the interests of Tan Sri Ong as set out in Section 8 above, the Proposed Provision of Financial Assistance is a related party transaction pursuant to Paragraphs 8.23(2)(b) and 10.08(2)(c) of the Listing Requirements. Accordingly, Kenanga Investment Bank Berhad has been appointed to act as the Independent Adviser to advise: whether the Proposed Provision of Financial Assistance is fair and reasonable insofar as the non-interested shareholders are concerned; whether the Proposed Provision of Financial Assistance is to the detriment of the minority shareholders; and the non-interested shareholders on whether they should vote in favour of the Proposed Provision of Financial Assistance. 11. DIRECTORS STATEMENT After taking into consideration the evaluation of the Independent Adviser and all other relevant aspects of the Proposed Provision of Financial Assistance (including but not limited to the rationale), the Board (save for Tan Sri Ong and the Interested Directors) is of the opinion that the Proposed Provision of Financial Assistance is: in the best interest of the Company; fair, reasonable and is not detrimental to the interest of the non-interested shareholders of the Company; and on normal commercial terms. 12

13 12. AUDIT COMMITTEE STATEMENT After taking into consideration the evaluation of the Independent Adviser and all other relevant aspects of the Proposed Provision of Financial Assistance (including but not limited to the rationale), the Audit Committee (save for Ong Yee Ching) is of the opinion that the Proposed Provision of Financial Assistance is: in the best interest of the Company; fair, reasonable and is not detrimental to the interest of the non-interested shareholders of the Company; and on normal commercial terms. 13. HIGHEST PERCENTAGE RATIO The highest percentage ratio applicable to the Proposed Provision of Financial Assistance pursuant to Paragraph 10.02(g) of the Listing Requirements is 19.55%, which has been computed by dividing the expected quantum of the Proposed Provision of Financial Assistance with the net assets of the Company based on its latest audited consolidated financial statements for the financial year ended 31 December ESTIMATED TIME FRAME FOR COMPLETION Barring any unforeseen circumstances, the Board expects the Proposed Provision of Financial Assistance will be implemented from time to time in accordance with Yarra Park s requirement throughout the development period of the Project. This announcement is dated 27 September