They will need to answer to Shareholders in upcoming AGM on these inter-companies transactions and how it benefit current Shareholders.

1. New Business - No Show
2. Dividend - No Show
3. Share Price - Stagnant At Low Base
4. Sold Majority Of Assets, Left With Office Asset & 40% Honfoong - What' s Next?

Exceprt From Jubilee' s Announcement

RESPONSE TO THE QUESTIONS FROM SIAS

Question 2

(iii) Can the company provide an update (including a timeline) on the return of proceeds from the sale of the electronics business unit to shareholders, in line with any previously declared positions, and confirm if the company is proceeding as initially stated?

Company&rsquo s Response

The return of proceeds from the sale of the electronics business unit remains subject to the Group&rsquo s capital deployment needs, including investments in new business opportunities as outlined in the Company&rsquo s response to Question 2(i). The Group continues to actively assess capital allocation options, which may include dividends or other means of returning value to shareholders, while ensuring optimal deployment of resources for long-term value creation. 

(iv) Can management provide a breakdown of advances to related parties amounting to $7.9 million in the past two years? What are the commercial justifications and repayments terms for such advances and did the independent directors approved them?

Company&rsquo s Response

The advances to related parties in the past two years were made on an ad-hoc basis to meet daily operational and group-wide funding requirements. As of 31 March 2025, the outstanding advances due from related parties amounted to S$6.17 million. The non-trade receivables due from related parties of S$6.17 million are interest-free, repayable on demand in cash, and secured by a pledge of quoted equity securities of an associated company held by the related parties. 

(vi) What are the efforts by management to monetise the office properties at 10 Ubi Crescent, valued at $3.3 million, and return the sale proceeds to shareholders?

Company&rsquo s Response

The Group is actively considering monetisation opportunities. The Group continues to monitor prevailing market conditions in the commercial real estate sector and engage with relevant parties to assess potential opportunities. However, any decision to divest these properties will be contingent upon securing favourable terms that maximise value for shareholders. 

Please refer to today' s announcement to get the full picture!

Just Some Wild Guesses Based On The Group' s Recent Development And Some Rationale Thinking!

1. CEO Dr. Terence Tea Last Share Purchase Was On 10 July, Bringing His Deemed Interest In Accrelist To 27.77%. He Did Not Continue His Share Purchase Despite The Company Share Trading At Multi-Years Low, Probably Due To Blackout Period Before Some Corporate Announcement!

2. There Is No Replacement For The 3 Jubilee' s Independant Directors Stepping Down In Upcomiing AGM.

3. After Selling Most Of The Assets, Jubilee Are Only Left With  40% Shareholding Interest in Honfoong Plastic Industries Pte. Ltd Held By We Total Engineering Bhd.  Honfoong Ceased To Be A Subsidiary But An Associate Company Of The Group With Effect From 29 September 2023.

4. Financially, It' s Unwise For Jubilee To Continue Listing Given The High Listing & Operations Cost And Low Liquidity Of Its Shares. Jubilee Is Best Delisted Or Sell As A Shell Company For RTO.

5. The Recent Spike In MClean Share Price From A Low Of RM0.28 To Yesterday Intraday High Of RM0.53 Within A Span Of 2 Weeks. Suggested There Could Be Something Going On. Maybe Purchasing The Balance 40% In Honfoong Through Some Cash Or Share Placement .

Just Wild Guesses For Shareholders To Ponder Over The Weekend, Nothing Concrete!

Excerpt From Jubilee AR2025

The non-trade receivables due from subsidiary corporations, the immediate and ultimate holding corporation and related parties are unsecured, interest-free and are repayable on demand in cash. The non-trade receivables due from related parties of S$6,170,000 are secured by a pledge of quoted equity securities of an associated company held by the related parties.

# As at 31 March 2024, the amount due from non-related parties included the remaining considerations for the disposal of the WEC Group and HF Group amounting to S$7,521,000 and S$355,000, respectively.

During the current financial year, the Group has acquired control of investment properties amounting to S$3,282,000 (Note 20), and received S$3,775,000 from the sale proceeds of the warehouses, as final settlement of the consideration for the disposal of the WEC group. As part of the final settlement of the consideration of the disposal of the WEC Group, the Group wrote off the remaining balance of S$464,000 and S$152,000 property related expenses due from the non-related party. 

(a) Disposal of Electronic Business Unit (&ldquo EBU&rdquo ) On 21 June 2022, the Company entered into a sales agreement with a third party to dispose a 14% shareholding of WE Components Pte. Ltd. which carried out EBU of the Group. The partial disposal was completed on 9 March 2023. On 29 August 2023, the Company has completed the disposal of the remaining 86% shareholding of WE Components Pte. Ltd. for a total consideration of S$21,752,000.

Group 2024 S$&rsquo 000 Consideration received in cash and cash equivalents: -

Received during the year 10,034 -

Received during previous year 4,197

Deferred sales proceeds not received as at year ended 7,521

Total consideration 21,752   

(b) Disposal of Honfoong Plastic Industries Pte. Ltd. (&ldquo Honfoong&rdquo ) On 29 September 2023, the disposal of a 37% shareholding of Honfoong Plastic Industries Pte. Ltd. (&ldquo Honfoong&rdquo ) was completed for a total consideration of S$1,855,000. Following the completion of the disposal, WE Total Engineering Sdn. Bhd. retains a 40% shareholding interest in Honfoong Plastic Industries Pte. Ltd., and accordingly, Honfoong ceased to be a subsidiary but an associate company of the Group with effect from 29 September 2023 as disclosed in Note 18.

Group 2024 S$&rsquo 000 Consideration received in cash and cash equivalents: -

Received during the year &ndash -

Received during previous year 1,500

Deferred sales proceeds not received as at year ended 355

Total consideration 1,855

No Chicken Drunstick This Time!