The board of directors announced that on 12 March 2024 (after trading hours), the Company and SDM Education Group Holdings Limited ("SDM") (together with the Company referred to as a "Party" or the "Parties") entered into a memorandum of understanding (the "Memorandum") in relation to the potential cooperation for undertaking the catering
services of all schools under SDM in Singapore by the Group ("Proposed Cooperation"). Pursuant to the Memorandum, each of the Parties may further enter into agreements containing the terms and conditions of the Proposed Cooperation subsequent to further discussion and negotiation among the Parties.