Roo Hsing : Announcement on behalf of subsidiary, Roo Hsing Garment Co., Ltd.,for the disposal of its property (land).

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Provided by: ROO HSING CO., LTD
SEQ_NO	2	Date of announcement	2022/01/07	Time of announcement	18:11:21
Subject	Announcement on behalf of subsidiary, Roo Hsing Garment Co., Ltd.,for the disposal of its property (land).
Date of events	2022/01/07	To which item it meets	paragraph 20
Statement	1.Name and nature of the underlying asset (e.g., land located at Sublot XX, Lot XX, North District, Taichung City): Land locates at Sangkat Tuol Sangke, Khan Russey Keo, Phnom Penh Capital City, Kingdom of Cambodia 2.Date of occurrence of the event:2022/01/07 3.Transaction unit amount (e.g.XX square meters, equivalent to XX ping), unit price, and total transaction price: Property size: 41,136.00sqm Transaction price:The contract amount will be determined based on negotiation. 4.Trading counterparty and its relationship with the Company (if the trading counterparty is a natural person and furthermore is not a related party of the Company, the name of the trading counterparty is not required to be disclosed):An individual, not related. 5.Where the trading counterparty is a related party, announcement shall also be made of the reason for choosing the related party as trading counterparty and the identity of the previous owner, its relationship with the Company and the trading counterparty, and the previous date and monetary amount of transfer:N/A 6.Where an owner of the underlying assets within the past five years has been a related party of the Company, the announcement shall also include the date and price of acquisition and disposal by the related party, and its relationship with the Company at the time of the transaction:N/A 7.Projected gain (or loss) through disposal (not applicable for acquisition of assets; those with deferral should provide a table explaining recognition):Depends on the contract amount. 8.Terms of delivery or payment (including payment period and monetary amount), restrictive covenants in the contract, and other important terms and conditions:Depends on the terms. 9.The manner of deciding on this transaction (such as invitation to tender, price comparison, or price negotiation), the reference basis for the decision on price, and the decision-making unit: The manner of deciding on this transaction: Negotiation Reference basis for the decision on price: Property Valuation report Decision-making unit: BOD 10.Name of the professional appraisal firm or company and its appraisal price: (1)Advance Professional Property Services Co.,Ltd/US$24,680,000 (2)Khmer Foundation Appraisal Co., Ltd./US$23,447,520 11.Name of the professional appraiser: (1)SUON Sorinda (2)OKNHA NOUN RITHY 12.Practice certificate number of the professional appraiser: (1)EV19-302 (2)V-15-165-01 13.The appraisal report has a limited price, specific price, or special price: N/A 14.An appraisal report has not yet been obtained:N/A 15.Reason for an appraisal report not being obtained:N/A 16.Reason for any significant discrepancy with the appraisal reports and opinion of the CPA:N/A 17.Name of the CPA firm:N/A 18.Name of the CPA:N/A 19.Practice certificate number of the CPA:N/A 20.Broker and broker's fee:N/A 21.Concrete purpose or use of the acquisition or disposal: Revitalizing fixed assets,maximizing group benefits 22.Any dissenting opinions of directors to the present transaction: The proposal shall be postponed. 23.Whether the counterparty of the current transaction is a related party:No 24.Date of the board of directors resolution:2022/01/07 25.Date of ratification by supervisors or approval by the audit committee:2022/01/07 26.The transaction is to acquire a real property or right-of-use asset from a related party:No 27.The price assessed in accordance with the Article 16 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies:N/A 28.Where the above assessed price is lower than the transaction price, the price assessed in accordance with the Article 17 of the same regulations:N/A 29.Any other matters that need to be specified: (1) The proposal has been passed on December 10 2019 by BOD resolution, however, the transaction can not be executed owing to the pandemic. (2)Since there are still customer orders that must be delivered continuously, after the land transaction is completed, a land lease contract will be signed with the buyer in accordance with the local market conditions.