The Company refers to the report in the Straits Times of today's date where Mr Mike Sim, our
Chief Executive Officer said that Sinwa is already making plans to move to the mainboard early
next year; even before it finishes its two-year mandatory period on Sesdaq.

The Company wishes to clarify that Mr Mike Sim's comments are in relation to the Company's
intention to apply to the SGX-ST to transfer to the SGX Mainboard, subject to SGX-ST's approval.
In this regard, the Company intends to make the application prior to its two-year period on
SESDAQ.