General Announcement::Monthly Valuation of Assets And Utilisation of Cash For The Month of July 2021

NGSC Limited

(Company Registration Number: 196400100R)

(Incorporated in the Republic of Singapore)

MONTHLY VALUATION OF ASSETS AND UTILISATION OF CASH

FOR THE MONTH OF JULY 2021

The board of directors (the "Board" or the "Directors") of NGSC Limited (the "Company") wishes to announce the following pursuant to rule 1018(1) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual:-

Monthly valuation of assets and utilisation of cash

(a) The Group's assets and liabilities as at 31 July 2021 were as follows: -

		S$'000
Assets
Cash and bank balances	13,161
Trade and other receivables (1)	346
Plant and equipment	240
Total assets	13,747
Liabilities
Other payables and accruals (3)	3,961
Lease liabilities	247
Total liabilities	4,208
Net assets		9,539

Notes:

1. Trade and other receivables mainly comprise other receivables of S$25k, deposit on account placed with a legal firm and rental deposit total amounting to S$140k, staff loan of S$ 115k and prepayment amounting to S$66k.
2. Other payables and accruals mainly consist of provision for directors' fee, accruals, third party payables and an amount due to the joint venture amounting to approximately S$0.9 million, S$0.6 million, S$0.2 million and S$2.3 million respectively.

1

(b) The Group's utilisation of cash from 1 July 2021 to 31 July 2021 was as follows: -

Opening cash and bank balances Add receipts:

Job support scheme from government Less payments:

Other administrative and operating expenses Closing cash and bank balances

S$'000

13,245

-

(84)

13,161

All figures set out in this announcement have not been reviewed or audited by the Company's auditors.

By Order of the Board

NGSC LIMITED

Dr Michael Kuan-Chi Sun

Executive Director

30 September 2021

2