Waiver :: Automatic Extension Of Time

OLD CHANG KEE LTD.

(Incorporated in the Republic of Singapore)

(Company Registration Number 200416190W)

AUTOMATIC EXTENSION OF TIME TO: (A) RELEASE UNAUDITED FINANCIAL RESULTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2020; AND (B) ISSUE ANNUAL REPORT, HOLD ANNUAL GENERAL MEETING AND FILE ITS ANNUAL RETURNS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2020

1. EXTENSION OF TIME TO RELEASE UNAUDITED FINANCIAL RESULTS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2020

The Board of Directors (the "Board") of Old Chang Kee Ltd. (the "Company", and together with its subsidiaries, the "Group") refers to the news release by Singapore Exchange Regulation ("SGX RegCo") on 22 April 2020, titled "SGX RegCo Grants Auto-extension for Release of Unaudited Financial Results for FYs Ended Feb, Mar and April 2020" (the "22 April News Release").

Pursuant to the 22 April News Release, inter alia, the SGX RegCo, in consultation with the Monetary Authority of Singapore, will grant an automatic 2-month extension to issuers with financial year-end ("FY- end") of 31 March 2020 to release their full year unaudited results (the "Waiver"). As the Company's FY- end is 31 March 2020, the Company is automatically granted this Waiver, purs uant to which the Company's due date to release its full year unaudited financial results for the FY-end31 March 2020 is revised from 30 May 2020 to 30 July 2020.

Issuers are required to notify SGX RegCo of, and announce via SGXNet the following:

1. their relevant FY-end and the indic ative timeline to release their full-year unaudited financial statements;
2. the Board of Directors' confirmation that the time extension will not be in contravention of any laws and regulations governing the issuer and its constitution (or the equivalent in the issuer's country of incorporation); and
3. ensuring adherence to the issuer's internal policies with regards to dealing by the issuer and its officers in its securities, including not dealing in the issuer's securities while in possession of any material information.

The Company has notified SGX RegCo as follows:

1. the Company's FY-end is 31 March 2020. The indicative timeline to release its unaudited financial statements is on or before the new due date of 30 July 2020;
2. the Board has confirmed that the time extension will not be in contravention of any laws and regulations governing the Company and its constitution; and
3. the adherence to the Company's internal policies with regards to dealing by the Company and its officers in its securities, including not dealing in the Company's securities while in possession of any material information, will be ensured.

1. EXTENSION OF TIME TO ISSUE ANNUAL REPORT, HOLD ANNUAL GENERAL MEETING AND FILE ITS ANNUAL RETURNS FOR THE FINANCIAL YEAR ENDED 31 MARCH 2020

The Board refers to the announcement by the Accounting and Corporate Regulatory Authority (" ACRA") on 7 April 2020, titled "Extension of Deadline for Holding Annual General Meetings and Filing Annual Returns" (the "ACRA Announcement"), and the news release by SGX RegCo on 7 April 2020, titled "SGX RegCo Grants Automatic 60-Day Extension for Issuers to Hold AGMs " (the "7 April News Release").

Pursuant to the ACRA Announcement, inter alia, ACRA will grant a 60-day extension of time for all listed companies whos e annual general meetings ("AGMs") are due during the period 16 April 2020 to 31 July 2020. The annual returns filing due dates for the period 1 May 2020 to 31 August 2020 for all listed companies will also be extended for 60 days. There is no need for companies to apply for the extension of time with ACRA.

Pursuant to the 7 April News Release, inter alia, SGX RegCo will automatically extend by 60 days the deadline for all issuers with FY-end on or before 31 March 2020 to hold their AGMs. Issuers must issue their annual reports to shareholders and the Singapore Exchange at least 14 days before the date of the AGM.

The Company was originally due to hold its AGM by 31 July 2020 and file its annual returns by 31 August 2020. Pursuant to the ACRA Announc ement and the 7 April News Release, the new due dates for the Company to issue its annual report, hold its AGM and file its annual returns are as follows:

New annual report due date	New AGM due date	New annual returns due date
14 September 2020	29 September 2020	30 October 2020

Issuers are required to notify SGX RegCo of, and announce via SGXNet the following:

1. their relevant FY-end and the indicative timeline to convene their AGM; and
2. the Board of Directors' confirmation that the time extension will not be in contravention of any laws and regulations governing the issuer and its constitution (or the equivalent in the issuer' s country of incorporation).

The Company has notified SGX RegCo as follows:

1. the Company's FY-end is 31 March 2020. The indicative timeline to convene its AGM is on or before the new due date of 29 September 2020;
2. the Board has confirmed that the time extension will not be in contravention of any laws and regulations governing the Company and its constitution.

No response will be required from SGX RegCo for both notifications.

By Order of the Board

Name: Lim Tao-E William

Designation: Chief Executive Officer

Date: 28 April 2020

This announc ement has been prepared by the Company and its contents have been reviewed by the Company's spons or, PrimePartners Corporate Finance Pte. Ltd. ("Sponsor"), in accordance with Rules 226(2)(b) and 753(2) of the Singapore Exchange Securities Trading Limited ("SGX -ST") Listing Manual Section B: Rules of Catalist.

This announcement has not been examined or approved by the SGX-ST. 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 Ms Jennifer Tan, Associate Director, Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10 -00 Income at Raffles, Singapore 049318 and E -mail:[e-mail]).