Pan United : The Proposed Transactions

PAN-UNITED CORPORATION LTD.

(Company Registration No. 199106524G) (Incorporated in the Republic of Singapore)

THE PROPOSED TRANSACTIONS

- RECEIPT OF LETTER OF CLEARANCE FROM THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ("SGX-ST")

The board of directors (the "Board" or "Directors") of Pan-United Corporation Ltd. (the "Company") refers to the Company's announcements dated 3 May 2017, 11 August 2017 and 14 August 2017 (the "Announcements") in relation to, inter alia, the proposed de-merger of its wholly-owned subsidiary Xinghua Port Holdings Pte. Ltd.

Unless otherwise defined, all capitalised terms used in this announcement shall bear the same meanings as ascribed to them in the Announcements.

The Board is pleased to announce that the SGX-ST has, in its letter dated 28 August 2017, advised that it has no comments on the draft circular (the "Circular") to shareholders in respect of the Proposed De-Merger Transactions and the proposed adoption of a new constitution of the Company (collectively, the "Proposals") based on the assumption that the Proposals comply with the rules of the listing manual of the SGX-ST (the "Listing Rules") and the Company has disclosed all the information required by the Listing Rules in the Circular.

The SGX-ST's clearance of the Circular does not imply that the Companies Act, Chapter 50 of Singapore, and any amendments thereof, or any other statutory requirements have been complied with. The SGX-ST assumes no responsibility for the correctness of any of the statements made or opinions expressed in the Circular.

Further information on the Proposals will be set out in the Circular to be despatched by the Company in due course.

The Company will make further announcements to keep Shareholders updated on any material developments as and when appropriate.

By Order of the Board

Cho Form Po Company Secretary 28 August 2017

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