General Announcement::UPDATE ON RECEIPT OF WRIT OF SUMMONS BY SMCI REFINERY PTE. LTD. - JUDGEMENT

SEN YUE HOLDINGS LIMITED (under judicial management)

(the "Company")

Registration Number 200105909M

(Incorporated in the Republic of Singapore)

UPDATE ON RECEIPT OF WRIT OF SUMMONS BY THE COMPANY'S INDIRECT SUBSIDIARY SMCI REFINERY PTE. LTD. ("SMCI REFINERY") - JUDGEMENT

Capitalised terms not defined herein shall have the meanings ascribed to them in the Company's announcements dated 13 April 2021 and 7 October 2021 (the "Announcements").

The Judicial Managers (the "JM") of Sen Yue Holdings Limited (the "Company" and together with its subsidiaries (the "Group")) refer to the Announcements and wish to update Shareholders that SMCI Refinery, a wholly-owned subsidiary of SMC Industrial Pte Ltd (under judicial management), has on 26 October 2021 received a letter dated 25 October 2021 from the solicitors acting for Sing Tatt Construction Pte Ltd ("Sing Tatt Construction"), a supplier of SMCI Refinery.

Pursuant to the letter, SMCI Refinery has been notified that judgment has been entered against SMCI Refinery in default of appearance on 14 October 2021. As such, SMCI Refinery has been ordered to pay S$110,803.88, being the aggregate amount of the Claim, interest at 5.33% per annum from the date of Writ to Judgment and costs of S$1,800. In the event that payment is not made within seven days from the date of the letter, Sing Tatt Construction shall seek recourse to legal remedies without further reference to SMCI Refinery.

The JM will liaise with the sole director of SMCI Refinery on the judgment and will update Shareholders as and when further material developments occur.

Submitted by the Judicial Managers

For and On Behalf of the Company

Chee Yoh Chuang and Lin Yueh Hung c/o RSM Corporate Advisory Pte Ltd 26 October 2021

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This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities

Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Ms. Lim Hui Ling, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318,[e-mail].

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