General Announcement::UPDATE ON LEGAL PROCEEDINGS AGAINST ALIRAN ASIA SDN BHD

ASTAKA HOLDINGS LIMITED

(Company Registration No: 200814792H)

(Incorporated in the Republic of Singapore)

UPDATE ON LEGAL PROCEEDINGS AGAINST ALIRAN ASIA SDN BHD

The board of directors (the "Board" or "Directors") of Astaka Holdings Limited (the "Company") refers to the Company's announcements dated 19 December 2019, 23 December 2019, 17 March 2020, 28 July 2020, 17 December 2020, 28 April 2021, 24 May 2021, 2 June 2021, 25 June 2021, 22 July 2021, 10 August 2021, 26 August 2021, 28 September 2021, 1 October 2021, 19 October 2021 and 26 October 2021 (collectively, the "Announcements") in relation to the ongoing dispute between Astaka Padu Sdn Bhd ("APSB") and Aliran Asia Sdn Bhd ("Aliran"), and in particular, the notice of application and originating summons filed by APSB against Aliran in the Kuala Lumpur High Court ("KL Court") on

15 October 2021 (the "Fortuna Injunction").

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

The Board wishes to announce that following the submissions of APSB and Aliran in relation to the Fortuna Injunction, the KL Court had, on 1 November 2021, deferred the hearing and decision in respect of the matter to 24 November 2021, pending the hearings of the stay and enforcement proceedings of the First Claim Adjudication Decision and Additional Claim Adjudication Decision. In the meantime, the ad-interim injunction granted to APSB by the KL Court on 21 October 2021 restraining Aliran from presenting a winding-up petition against APSB in respect of the sum of RM3,657,644.59 claimed in the Notice of Demand, until disposal of the application for the Fortuna Injunction, shall continue to apply.

The Company will make further announcements to update its shareholders when there are material updates in respect of the matters above, as and when necessary. Shareholders are advised to refrain from taking any action in respect of their securities in the Company which may be prejudicial to their interests, and to exercise caution when dealing in the securities of the Company. In the event of any doubt, Shareholders and potential investors should consult their stockbrokers, bank managers, solicitors, accountants or other professional advisers.

By Order of the Board

Khong Chung Lun

Executive Director and Chief Executive Officer

2 November 2021

This announcement has been prepared by the Company and reviewed by the Company's sponsor, Novus Corporate Finance Pte. Ltd. (the "Sponsor"), in compliance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made, or reports contained in this announcement.

The contact person for the Sponsor is Mr Andrew Leo, Chief Executive Officer, at 7 Temasek Boulevard, #18-03B Suntec Tower 1, Singapore 038987, telephone [phone].