The Board is actively exploring opportunities to exit the MTP Watchlist. It has 36 months from 5 June 2017
to meet the minimum trading price requirement for mainboard companies on the Singapore Exchange.

 

In view of the strategies mentioned above, and barring unforeseen circumstances, the Board expects the
Group to deliver higher revenue and to operate profitably in FY2019 due to:

 

i) growing momentum of relocation activities across Asia and the U.S. (building on track record and recent
projects in Nevada) and expansion of its Malaysian presence beyond Penang to the Klang Valley

 

ii) the completion of the Chuzhou warehouse by the latter half of 2018 will open up fresh opportunities for 3PL
and relocation services throughout China, anchored in the lower operating costs of Anhui province

 

iii) further growth of the cross-border trucking activities from Southeast Asia to China and

 

CHASEN HOLDINGS LIMITED

Unique Entity Number 199906814G

Incorporated in the Republic of Singapore

1

Media Release
 

Chasen Holdings Bags More Than S$38 Million of New Contracts in Asia and US&bull

All three business divisions secure new orders, with largest haul for specialist relocation&bull

New contracts expected to boost Chasen&rsquo s results for current financial year ending

31 March 2019 Singapore, 26 June 2018

&ndash

Chasen Holdings Limited (&ldquo Chasen&rdquo or the &ldquo Group&rdquo ), which offers turnkey relocation, third-

party logistics as well as technical and engineering services, has secured S$38.4million worth
of new contracts, including a US$9.3 million (S$12.6 million) project to provide move - in and related
logistics services for the setting up of production lines for a large automobile product manufacturing

plant in the US.
 

The US$9.3 million specialist relocation contract clinched by the Group&rsquo s wholly - owned US subsidiary

Chasen (USA), Inc. marks the thirdphase ofits involvement in the manufacturing plant, which is currently
being built by an American multinational corporation.
Chasen (USA), Inc. first started work on the project in September 2016, overseeing the moving of

manufacturing equipment and materials for the plant&rsquo s first production line. It then took on the entire project
for the second phase, a deal valued at US$12.0 million (then S$15.8 million), in December 2016 that was

completed in July 2017. The contract for the third phase is expected to have a positive impact on the Group&rsquo s

financial results for its current year ending 31 March 2019 (&ldquo FY2019&rdquo ).
 

The Group&rsquo s other newly - secured specialist relocation contracts by its Chuzhou -based subsidiary are from

China - based manufacturers of thin-film transistor liquid-crystal display (&ldquo TFT LCD&rdquo ) and organic light-emitting
diode (&ldquo OLED&rdquo ) panels for televisions, computer monitors and smart phones.
 

The Group also secured new relocation contracts from MNC solar panel manufacturers in Malaysia and Vietnam,

and semiconductor MNCs in Singapore. The total value of these Asia-based projects, which will contribute to
Chasen&rsquo s FY2019 financial performance, is about S$12.6 million.

2

Third-Party Logistics (&ldquo 3PL&rdquo )

The Group&rsquo s 3PL business division secured a total of S$3.0 million worth of new contracts to provide warehousing
and transportation. These include a warehousing contract for a Malaysian-based water filter distribution company

while in Singapore, it is for the storage of elevators, escalators and travellators, and the transportation to customers&rsquo

sites for installation. These sites include the Jewel Changi Airport and several other commercial buildings.
 

Other 3PL contracts involve the cross-border trucking of solar panels between Malaysia and Vietnam as well as

assorted cargoes into Singapore, Myanmar, the Indo-China countries and China. These contracts also include local
trucking operations spanning Peninsular Malaysia and Thailand.

Technical & Engineering (&ldquo T& E&rdquo ) Services

The Group&rsquo s T& E business division, which has been streamlined over the past year toimprove profitability, clinched
about S$10.2 million worth of new contracts. The contracts are construction-related such as the provision of steel
fabrication, ACMV installation and scaffolding services in Singapore are worth S$8.7million to be delivered during FY2019.

The S$1.5 million worth of orders received for contract manufacturing services by the Group&rsquo s subsidiary in Suzhou, PRC,

are for telecommunication products for its overseas MNC customers.
 

Mr Low Weng Fatt, Chasen&rsquo s Managing Director and CEO, said:

&ldquo With more than S$38 millionsecured in the first quarter, and not counting the smaller projects and recurring revenue

from the monthly maintenance and services, these new contracts will keep all our three business divisions busy in FY2019
and beyond. They will provide further tailwinds to Chasen as we seek to seize more growth opportunities in Asia and the US,
which is a relatively new market for us.&rdquo

-

End