Waiver::RECEIPT OF NO OBJECTION LETTER FROM SGX ON EXTENSION OF TIME TO COMPLY WITH CATALIST RULE 705(2)

ASIATIC GROUP (HOLDINGS) LIMITED

(Company Registration No. 200209290R)

(Incorporated in the Republic of Singapore)

RECEIPT OF NO OBJECTION LETTER FROM THE SGX REGCO ON THE APPLICATION FOR AN

EXTENSION OF TIME TO COMPLY WITH RULE 705(2) OF THE CATALIST RULES

Unless otherwise specified, all capitalized terms used herein shall have the meanings ascribed to them in the announcement dated 10 August 2021 (the "Announcement").

The Board of Directors ("Board") of Asiatic Group (Holdings) Limited (the "Company", and together with its subsidiaries, the "Group") refers to the Announcement in relation to the Company's application for an extension to announce its unaudited financial results for Q1FY2022 by 31 August 2021 to comply with Rule 705(2) of the Catalist Rules.

The Company wishes to announce that it had, on 20 August 2021, received a letter from the SGX RegCo informing the Company that it has no objection to the Company's application for extension of time to announce its unaudited financial results for Q1FY2022 by 31 August 2021(the "Waiver") subject to the following:

1. The Company announcing the Waiver granted, the reasons for seeking the Waiver, the conditions as required under Catalist Listing Rule 106 and if the Waiver conditions have been satisfied. If the Waiver conditions have not been met on the date of the announcement, the Company must make an update announcement when the conditions have all been met; and
2. Submission of a written confirmation from the Company that it is not aware of any information that will have a material bearing on investors' decision which has yet to be announced by the
   Company.

Rationale for Seeking the Extension of Time Application

The Company had applied for the Extension of Time Application for the following reasons:

1. As per the reasons stated in the Company's announcements made on 15 July 2021 and 27 July
   2021 on the extension of one (1) month till 31 August 2021 to hold the annual general meeting for the financial year ended 31 March 2021 ("FY2021 AGM") to comply with Rule 707(1) of the Catalist Rules, the Company will issue its annual report for FY2021 ("FY2021 AR") at least 14 days before the date of the FY2021 AGM, being no later than 16 August 2021, in accordance to Rule 707(2) of the Catalist Rules. The Company has received a no objection letter from the SGX RegCo and approval from the ACRA in relation to the previous application and the Company is now in the midst of finalising the audit of the Group to meet the extended deadline.
2. Meanwhile, in accordance to Rule 705(2) of the Catalist Rules, the Company is required to announce its Q1FY2022 Results no later than 14 August 2021 ("Q1 Announcement Deadline").
3. It is essential for Management to receive the Group's audited consolidated financial statements for FY2021 ("FY2021 FS") in order to prepare and finalize its Q1FY2022 Results. In view of the current status where the audit for the FY2021 FS is still on-going and the working parties are targeting towards its finalisation on or about 12 August 2021 as at the date of Extension of Time Application, there is insufficient time for the Management to prepare and finalize its Q1FY2022 Results, and

also for the Board to review and approve the Q1FY2022 Results of the Company before the Q1 Announcement Deadline.

1. In light of the reasons listed above, and also taking into consideration the time allocation for the preparation of both Q1FY2022 Results and the pre-FY2021 AGM matters concurrently, the Company is seeking for the Extension of Time Application to have more time for the preparation and finalization of the Q1FY2022 Results. The Company endeavours to finalise the Q1FY2022 Results and to announce it on the SGXNet prior to the FY2021 AGM, but in any case, no later than 31 August 2021.

Confirmations by the Company

The Company confirms that it is not aware of any information that will have a material bearing investors' decision which has yet to be announced by the Company, and will be providing the same confirmation in written form to the SGX RegCo today.

In addition, the Company also confirms that the Waiver does not contravene any laws and regulations governing the Company and the constitution of the Company. The Company will make an immediate disclosure via SGXNet if such contravention arises.

By Order of the Board

Tan Boon Kheng

Managing Director

23 August 2021

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 Mr. Joseph Au, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, [e-mail].