We refer to the Company’s announcements dated 5 March 2016, 18 March 2016, 11 April 2016, 12 April 2016, 23 May 2016, 24 May 2016, 26 May 2016, 20 June 2016, 4 July 2016 and 19 July 2016 in relation to the Proposals (“Announcements”). Unless otherwise stated, all abbreviations used herein shall have the same meanings as those used in the Announcements.

On behalf of the Board, HLIB and Maybank IB wish to announce that the SC has vide its letter dated 24 August 2016 approved the Proposals under Section 214(1) of the Capital Markets and Services Act, 2007 subject to the following conditions:

(i)  HLIB, Maybank IB and Reach Energy to fully comply with the requirements of the SC’s Equity Guidelines, as applicable, pertaining to the implementation of the Proposals; and

(ii) HLIB, Maybank IB and Reach Energy to fully comply with the Listing Requirements, as applicable, pertaining to the implementation of the Proposals and the issuance of the circular to shareholders of Reach Energy.

This announcement is dated 24 August 2016.