S&P International : VOLUNTARY ANNOUNCEMENT - TEMPORARY SUSPENSION OF A PRODUCTION FACILITY

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S&P INTERNATIONAL HOLDING LIMITED

椰 豐 集 團 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1695)

VOLUNTARY ANNOUNCEMENT

TEMPORARY SUSPENSION OF A PRODUCTION FACILITY

This announcement is made by S&P International Holding Limited (the "Company", together with its subsidiaries, the "Group") on a voluntary basis.

The board of directors (the "Board") of the Company wishes to announce that the Group's coconut powder production plant located in Perak (the "CCP") operate by one of its subsidiaries, S&P Industries Sdn. Bhd. (the "SPI"), has been temporarily suspended due to malfunction of the cyclone system used in the CCP, which causes emission of coconut powder.

On 11 May 2021, the management of SPI has had a discussion with the Department of Environment, Malaysia ("the DOE"). Following the discussion, SPI and its consultant will prepare a restoration proposal to the DOE, as soon as possible, for approval prior to the commencement of the cyclone system repair.

Based on the preliminary assessment conducted by the consultant, the restoration may take two to three months. Although the inventory of SPI will, to a certain extent, be able to meet the short-term demand of its customers, the Board expects that the temporary suspension of the CCP will have a negative impact on the Group's revenue and profit for the year ended 31 December 2021. Based on the management's estimation, the estimated loss of revenue for the Group during the suspension period would be in the amount of approximately RM10 million to RM15 million. In the opinion of the Board, the Group's cashflow remains healthy and is not significantly affected. Another production facility of SPI located in Perak which produces liquid coconut related products continues its operation as usual and the production is not being affected.

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SPI will manage the affected customers on the delay of the original schedule shipments accordingly and will try its best to meet the demand of its customers as much as possible.

The Company will make further announcement(s) if there is any material development following the incident.

Shareholders of the Company and potential investors are advised to exercise caution when dealing in the securities of the Company.

By order of the Board

S&P International Holding Limited

Tang Koon Fook

Chairman and Executive Director

Hong Kong, 12 May 2021

As at the date of this announcement, the Board comprises seven directors, including four Executive Directors, namely Mr. Tang Koon Fook (Chairman), Mr. Lee Sieng Poon, Mr. Yap Boon Teong and Ms. Wong Yuen Lee; and three Independent Non-Executive Directors, namely Mr. Fung Che Wai Anthony, Mr. Ng Hock Boon and Mr. Lim Sey Hock.

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