Singapore Kitchen Equipment : Update On Use Of Proceed From The Initial Public Offering

SINGAPORE KITCHEN EQUIPMENT LIMITED

(Company Registration No.: 201312671M)

(Incorporated in Singapore)

UPDATE ON USE OF PROCEED FROM THE INITIAL PUBLIC OFFERING

Unless otherwise specified, all capitalised terms shall have the same meaning ascribed to them in the Announcement (as defined below).

The Board of Directors (the "Board" or "Directors") of Singapore Kitchen Equipment Limited (the "Company" and together with its subsidiaries, the "Group") refers to the announcement dated 21 January 2022 on the change in use of the IPO Proceeds and Placement Proceeds.

The Board wishes to announce that the Company has utilised approximately S$1.355 million, being full payment for the newly acquired property at Lot No. MK1-U31693T, 207, Henderson Road, #01-01 and #03- 01 Henderson Industrial Park, Singapore 159550. The remaining balance of approximately S$0.245 million will be utilised for renovation of the above property and other capital expenditures as announced by the Company in its announcement dated 21 January 2022.

As at the date of this announcement, the status on the use of IPO Proceeds is as follows:

		Amount
		utilised as at	Balance as at
	Amount	the date of this	the date of this
	allocated	announcement	announcement
Intended use of IPO Proceeds	(S$'000)	(S$'000)	(S$'000)
Acquisition of additional fabrication equipment and	700	(319)	381
machinery
Acquisition and renovation of the newly acquired	1,600	(1,355)	245
property and other capital expenditures
For general working capital purposes of the Group	975	(975)	-
Expenses such as professional fees, under writing	1,325	(1,325)	-
and placement commission and brokerage, and
miscellaneous fees
Total	4,600	(3,974)	626

The Company will make periodic announcements on the use of the IPO Proceeds and Placement Proceeds on SGXNET as and when the funds are materially disbursed and provide a status report on such use in the annual reports of the Company.

By Order of the Board

SINGAPORE KITCHEN EQUIPMENT LIMITED

Chua Chwee Choo

Executive Director and Chief Executive Officer

31 January 2022

This announcement has been reviewed by the Company's sponsor, RHT Capital Pte. Ltd. (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST"). The Sponsor has not independently verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The details of the contact person for the Sponsor are as follows:

Name: Ms Bao Qing (Registered Professional, RHT Capital Pte. Ltd.)

Address: 6 Raffles Quay, #24-02, Singapore 048580

Email: [e-mail]