SGX
Mr Tan Boon Gin

I am a minority shareholder of Asiatic Group (Holdings) Limited. In the last five years, the share price has dropped by more than 80%. We, the minority shareholders, lost a lot of money. I am very uncomfortable with what the executive directors did in the last five years. I feel they had subordinated the interest of minority shareholders. I also feel that they had made decisions that were detrimental to the interest of minority shareholders. I did not see the independent directors challenging the executive directors' decisions that directly harmed the minority shareholders.

It is with great sadness and distress that I am appealing to the independent directors to stand up for Asiatic' s minority shareholders to protect our money which we entrusted to the board of directors. I no longer see the executive directors' pursuits are aligned with minority shareholders' interest. I appeal to the independent directors for your help.

I attach herewith an open letter to Asiatic Group' s board of directors for perusal and hope you can consider easing the dire situation we are in now.

Yours sincerely,