The Board of Directors of GHL wishes to announce that ePayments, a wholly-owned subsidiary of GHL, had on 17 March 2017 incorporated a wholly-owned subsidiary in Singapore, namely GEPL (“the Incorporation”).

The issued share capital of GEPL is SGD10,000.00 consisting of 10,000 ordinary shares. The intended principal activity of GEPL is to provide internet payment gateway services.

The Incorporation of GEPL will not have any material effect on the share capital, shareholding structure, gearing, net assets per share and earnings per share of GHL Group for the financial year ending 31 December 2017.

Save for Mr. Kanagaraj Lorenz, Mr Leong Kah Chern and Ms Kam Wai Peng who are the directors of GEPL, who are also the Executive Director, Group Chief Executive Officer and Group Chief Financial Officer of GHL respectively, none of the other directors and/or major shareholders of GHL or persons connected to the directors and/or major shareholders of GHL have any interest, direct or indirect in the above transaction.

The Incorporation does not require approval from the shareholders of GHL or any other relevant authorities.

Having considered the rationale and the effects of the Incorporation, the Board of Directors of GHL is of the opinion that the Incorporation is in the best interest of the Company.

This announcement is dated 17 March 2017.