JOINT VENTURE WITH BS CAPITAL PTE. LTD. TO INVEST IN THE DEVELOPMENT OF THE LAND PARCELS LOCATED AT 108 JALAN LAM HUAT, SINGAPORE

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1 JOINT VENTURE WITH BS CAPITAL PTE. LTD. TO INVEST IN THE DEVELOPMENT OF THE LAND PARCELS LOCATED AT 108 JALAN LAM HUAT, SINGAPORE INTRODUCTION The board of Directors (the Board ) of Enviro-Hub Holdings Ltd. (the Company ) wishes to announce that the Company has on 30 October 2012 entered into a shareholders agreement ( Shareholders Agreement ) with BS Capital Pte. Ltd. ( BS Capital ) and Lam Huat Development Pte. Ltd. ( Lam Huat Development ), pursuant to which the Company and BS Capital have agreed to enter into a joint venture to invest in the development of the land parcels located at 108 Jalan Lam Huat, Singapore ( Kranji Project ) through Lam Huat Development as the joint venture company ( Joint Venture ). CHAPTER 9 OF THE LISTING MANUAL Mr Raymond Ng Ah Hua, a controlling shareholder and Executive Chairman of the Company, is the sole legal and beneficial owner and a director of BS Capital as at the date hereof. Accordingly, BS Capital is an interested person as defined under Chapter 9 of the listing manual ( Listing Manual ) of the Singapore Exchange Securities Trading Limited ( SGX-ST ) and the Joint Venture constitutes an interested person transaction as defined under Chapter 9 of the Listing Manual. The aggregate value of the commitment of the Company in the Joint Venture amounts to S$8,000,125 (1), representing approximately 12% of the Group s latest audited net tangible assets of S$64.1 million as at 31 December As the Joint Venture is entered into by the Company pursuant to Rule 916(2) and Rule 916(3) of the Listing Manual, shareholders approval is not required for the entry by the Company into the Joint Venture on the terms and conditions of the Shareholders Agreement. For purposes of this announcement, Group shall mean the Company and its subsidiaries. Rule 916(2) of the Listing Manual provides that investment in a joint venture with an interested person is not required to comply with the requirement to obtain shareholders approval under Rule 906 of the Listing Manual if: (a) (c) The risks and rewards are in proportion to the equity of each joint venture partner; The issuer confirms by an announcement that its audit committee is of the view that the risks and rewards of the joint venture are in proportion to the equity of each joint venture partner and the terms of the joint venture are not prejudicial to the interests of the issuer and its minority shareholders; and The interested person does not have an existing equity interest in the joint venture prior to the participation of the entity at risk in the joint venture. In addition, Rule 916(3) of the Listing Manual provides that the provision of a loan to a joint venture with an interested person is not required to comply with the requirement to obtain shareholders approval under Rule 906 of the Listing Manual if:

2 (a) (c) the loan is extended by all joint venture partners in proportion to their equity and on the same terms; the interested person does not have an existing equity interest in the joint venture prior to the participation of the entity at risk in the joint venture; and the issuer confirms by an announcement that its audit committee is of the view that: (i) (ii) the provision of the loan is not prejudicial to the interests of the issuer and its minority shareholders; and the risks and rewards of the joint venture are in proportion to the equity of each joint venture partner and the terms of the joint venture are not prejudicial to the interests of the issuer and its minority shareholders. Note(s): (1) Comprising the initial equity participation by the Company in Lam Huat Development of S$125 and the Enviro-Hub Shareholder s Loan (as defined below) of up to S$8,000,000. CHAPTER 10 OF THE LISTING MANUAL The relative figures of the Joint Venture computed on the bases set out in Rule 1006 of the Listing Manual are as set out below: (a) Rule 1006(a) The net asset value of the assets to be disposed of, compared with the Group's net asset value. Not applicable. Rule 1006 The net profits (1) attributable to the assets acquired or disposed of, compared with the Group s net profits. Not applicable. (c) Rule 1006(c) The aggregate value of the consideration given of S$8,000,125 (2), compared with the Company's market capitalisation (3) of approximately S$90,765,753 (based on the weighted average price of the Company s shares on the SGX-ST of S$0.10 on 25 October 2012 (4) ). 8.8% (d) Rule 1006(d) The number of equity securities issued by the Company as consideration for an acquisition, compared with the number of equity securities previously in issue. Not applicable. Note(s): (1) Under Rule 1002(3) of the Listing Manual, net profits means profit or loss before income tax, minority interests and extraordinary items.

3 (2) (3) (4) Comprising the initial equity participation by the Company in Lam Huat Development of S$125 and the Enviro-Hub Shareholder s Loan (as defined below) of up to S$8,000,000. Under Rule 1002(5) of the Listing Manual, market capitalisation of the Company is determined by multiplying the number of shares in issue by the weighted average price of such shares transacted on the market day preceding the date of the Shareholders Agreement. Being the latest available date on which transactions in the shares of the Company were recorded immediately preceding the date of the Shareholders Agreement. As the relative figure computed under Rule 1006(c) of the Listing Manual exceeds 5%, the Joint Venture is a discloseable transaction under Chapter 10 of the Listing Manual and is therefore subject to the announcement requirements under Rule 1010 of the Listing Manual. INFORMATION ON BS CAPITAL BS Capital is a private limited company incorporated in Singapore on 8 November 2003 and has, as at the date hereof, a total issued and paid-up share capital of S$10,000 comprising 10,000 ordinary shares. BS Capital is principally engaged in the business of property development. As at the date of this announcement, Mr Raymond Ng Ah Hua is the sole shareholder and a director of BS Capital. INFORMATION ON LAM HUAT DEVELOPMENT Lam Huat Development is a private limited company incorporated in Singapore on 24 July 2012 and is the joint venture company undertaking the Joint Venture. As at the date of the Shareholders Agreement and this announcement, Lam Huat Development has a total issued and paid-up ordinary share capital of S$1, comprising 1,000 ordinary shares held by BS Capital and the Company in the following shareholding proportion: Shareholder Number of Shareholding Shares Proportion BS Capital % The Company % Total Number of Shares 1, % As at the date of this announcement, Lam Huat Development is in turn the legal and beneficial owner of 800,000 ordinary shares, representing 80% of the total issued and paid-up share capital of Kranji Development Pte. Ltd. ( Kranji Development ), a company incorporated in Singapore and the entity undertaking the Kranji Project. The remaining issued and paid-up ordinary share capital of Kranji Development is currently held by BS Investors Pte. Ltd. ( BS Investors ). Save for Mr Lai Huen Poh s interest in BS Investors as disclosed below, BS Investors is owned by unrelated third parties. For purposes of the Kranji Project, Lam Huat Development has also entered into a management agreement dated 30 October 2012 with Kranji Development pursuant to which Kranji Development has appointed Lam Huat Development as the manager of all aspects of the Kranji Project on the terms and subject to the conditions set out in the management agreement. As Lam Huat Development was recently incorporated on 24 July 2012, the information under Rule 1010(5) and Rule 1010(7) of the Listing Manual relating to the book value and net tangible asset value and the net profits attributable to the assets being acquired respectively is not applicable. In relation to the latest available valuation of the land parcels located at 108 Jalan Lam Huat, Singapore ( Kranji Property ) which is the subject of the Kranji Project, Kranji Development has

4 commissioned an independent valuer ( Independent Valuer ) to determine the market value of the Kranji Property and the gross development value of the proposed development, for financing purposes with Malayan Banking Berhad. The Independent Valuer had reported in the valuation report ( Valuation Report ), inter alia, that having regard to all relevant information provided to it, it is of the opinion that the market value of the Kranji Property, as a development site subject to formal planning approval for the proposed development comprising a 14-storey multi-tenanted warehouse / car distribution incorporating 2-storeys of car parks with ancillary facilities, excluding development charge / differential premium, if any, with vacant possession and free from all encumbrances, is S$245,000,000 as at 4 October The Independent Valuer is further of the opinion that the gross development value of the proposed development, assuming it is satisfactorily completed as at the date of valuation with vacant possession and free from all encumbrances is S$680,000,000. CONSIDERATION FOR THE JOINT VENTURE The aggregate value of the consideration for the Joint Venture for purposes of Chapter 10 of the Listing Manual amounts to S$8,000,125, being the aggregate amount of the initial equity participation of the Company in Lam Huat Development and the Enviro-Hub Shareholder s Loan (as defined below). The initial equity participation of the Company in Lam Huat Development was satisfied by the Company in cash and was funded by the Company by way of internal resources. The Enviro-Hub Shareholder s Loan shall be disbursed by the Company to, or on behalf of, Lam Huat Development at the request of Lam Huat Development from time to time and will be funded by the Company by way of internal resources and external borrowings. The consideration was arrived at taking into account the funding obligations of Lam Huat Development in relation to the Kranji Project and on the basis that the risks and rewards of the respective investments of the Company and BS Capital in the Joint Venture shall be in proportion to their respective shareholding proportion in Lam Huat Development. RELEVANT TERMS OF THE JOINT VENTURE Under the Shareholders Agreement, BS Capital and the Company have agreed to participate in the Joint Venture to invest in the development of the Kranji Project on, inter alia, the following terms and conditions, which were arrived at on the basis that the risks and rewards of the respective investments of the Company and BS Capital in the Joint Venture shall be in proportion to their respective shareholding proportion in Lam Huat Development: Shareholder s Loans For the purposes of financing Lam Huat Development, BS Capital and the Company shall have the obligation to provide and make available to Lam Huat Development shareholder s loans of up to the aggregate amount of not more than S$56,000,000 ( BS Capital Shareholder s Loan ) and S$8,000,000 ( Enviro-Hub Shareholder s Loan ) respectively. All amounts disbursed to, or on behalf of, Lam Huat Development pursuant to the BS Capital Shareholder s Loan and Enviro-Hub Shareholder s Loan shall, and Lam Huat Development shall procure that all such amount shall, be disbursed by Lam Huat Development to, or on behalf of, Kranji Development for purposes of the Kranji Project. Corporate Guarantee by BS Capital For purposes of the Kranji Project, Kranji Development has obtained a bank loan from Malayan Banking Berhad ( Bank ) for a loan amount of S$ million ( Kranji Bank Loan ). At the request of the Bank, BS Capital has, as at the date of the Shareholders Agreement, provided a corporate guarantee to the Bank for the Kranji Bank Loan ( Corporate Guarantee ).

5 In connection with such Corporate Guarantee, the parties have further agreed in the Shareholders Agreement that the Company shall provide an indemnity ( Indemnity ) to BS Capital for the amount of S$52.50 million, such that all risks and rewards in connection with the provision of such Corporate Guarantee shall be in proportion to the shareholding proportion of each of BS Capital and the Company in the Joint Venture. Board Representation BS Capital and the Company shall be entitled to request the appointment of three (3) directors and one (1) director respectively to sit on the board of directors of Lam Huat Development ( Lam Huat Development s Board ). Lam Huat Development s Board shall be responsible for the management and supervision of the Joint Venture. RATIONALE FOR, AND BENEFIT OF, THE JOINT VENTURE The Company will participate in the Joint Venture as a minority investor with a stake of 12.5% shareholding interest in Lam Huat Development. The Board, after careful consideration of the prospects of the Joint Venture, is of the view that the Joint Venture will provide an additional source of revenue for the Group and is thus in the best interest of the Group. As the Joint Venture is entered into pursuant to Rule 916(2) and Rule 916(3) of the Listing Manual, the risks and rewards of the respective investments of the Company and BS Capital in the Joint Venture will be in proportion to their respective shareholding proportion in the Joint Venture. The Board will ensure that the Company will comply with the requirements under Rule 916(2), Rule 916(3), the announcement requirements under Rule 905 read together with Rule 917 and other applicable requirements under Chapter 9 and Chapter 10 of the Listing Manual on an on-going basis in relation to the Joint Venture. CONFIRMATION OF AUDIT COMMITTEE In compliance with Rule 916(2), the audit committee ( Audit Committee ) of the Company, having considered the terms and conditions of the Shareholders Agreement, is of the view that the risks and rewards of the Joint Venture are in proportion to the equity of each joint venture partner and the terms of the Joint Venture are not prejudicial to the interests of the Company and its minority shareholders. Further, in compliance with Rule 916(3)(c), the Audit Committee, having considered the terms and conditions of (i) the BS Capital Shareholder s Loan and Enviro-Hub Shareholder s Loan and (ii) the Corporate Guarantee and the Indemnity extended by BS Capital and the Company respectively, is of the view that: (a) the provision of the Enviro-Hub Shareholder s Loan and the Indemnity is not prejudicial to the interests of the Company and its minority shareholders; and the risks and rewards of the Joint Venture are in proportion to the equity of each joint venture partner and the terms of the Joint Venture are not prejudicial to the interests of the Company and its minority shareholders. INTERESTED PERSON TRANSACTIONS FOR THE CURRENT FINANCIAL YEAR As at the date of this announcement, the current total for the current financial year ending 31 December 2012 of all interested person transactions with Mr Raymond Ng Ah Hua and his associates amounts to approximately S$125 (comprising the equity participation by the Company in Lam Huat Development).

6 Save as disclosed above, as at the date of this announcement, the Group does not have any other interested person transaction with Mr Raymond Ng Ah Hua or any of his associates or any other interested persons of the Group for the current financial year ending 31 December FINANCIAL EFFECTS The Joint Venture is not expected to have any material financial impact on the consolidated net tangible assets per share and consolidated earnings per share of the Company and its subsidiaries for the current financial year ending 31 December INTEREST OF THE DIRECTORS AND CONTROLLING SHAREHOLDERS As disclosed above, as at the date of this announcement, Mr Raymond Ng Ah Hua, a controlling shareholder and the Executive Chairman of the Company, is the sole legal and beneficial owner of BS Capital. As such, Mr Raymond Ng Ah Hua is interested in the Joint Venture and the Joint Venture is an interested person transaction as defined in Chapter 9 of the Listing Manual. In addition, Mr Lai Huen Poh, a non-independent non-executive director of the Company as at the date of this announcement, is the legal and beneficial owner of 50% of the issued and paid-up share capital of VA Development Pte. Ltd., a company which in turn legally and beneficially owns 50% of the issued and paid-up share capital of BS Investors. BS Investors in a minority shareholder holding 20% shareholding interest in Kranji Development, the entity undertaking the Kranji Project. Save as disclosed above and for their respective shareholdings in the Company (if any), none of the directors and/or controlling shareholders of the Company has any interest, direct or indirect, in the Joint Venture. DOCUMENTS AVAILABLE FOR INSPECTION Copies of the Shareholders Agreement and the Valuation Report are available for inspection during normal business hours at the registered office of the Company at 3 Tuas Avenue 2, Singapore , for a period of three months from the date of this announcement. By Order of the Board Raymond Ng Executive Chairman 30 October 2012

THE PROPOSED DISPOSAL OF THE COMPANY S ENTIRE 12% EQUITY STAKE IN CARROS PROJECT MANAGEMENT PTE. LTD.

THE PROPOSED DISPOSAL OF THE COMPANY S ENTIRE 12% EQUITY STAKE IN CARROS PROJECT MANAGEMENT PTE. LTD. 1. INTRODUCTION The board of directors ( Board ) of Enviro-Hub Holdings Ltd. (the Company, together