Singapore O&G : Partners LYC Healthcare In A Joint Venture To Establish A Postpartum Confinement Centre In Johor, Malaysia

SINGAPORE O&G LTD.

(Company Registration No. 201100687M)

FOR IMMEDIATE RELEASE

Singapore O&G partners LYC Healthcare in a Joint Venture to establish a Postpartum Confinement Centre in Johor, Malaysia

Singapore, 18 March 2021 - Singapore O&G Ltd. ("SOG", the "Company" or collectively with its subsidiaries, the "Group"), a SGX Catalist listed company specialising in women's and children's health and wellness, announced today that it has entered into a joint venture agreement ("JV Agreement") with LYC Mother & Child Centre Sdn Bhd ("LYCMC"), a wholly-owned subsidiary of LYC Healthcare Berhad ("LYC"), to incorporate a Special Purpose Vehicle ("SPV"), provisionally to be called LYC-SOG Mother & Child Centre Sdn Bhd, for the purpose of setting up a postpartum confinement centre of up to 130 beds in Johor, Malaysia ("Johor Confinement Centre") offering confinement care and related services (the "Business" or "Joint Venture"). The JV Agreement also provides for the establishment of similar centres in Malaysia, as may be agreed by the Parties from time to time.

SOG and LYCMC are each referred to as the "Party", and collectively referred to as the "Parties".

The SPV to be incorporated will be 51% and 49% owned by LYCMC and SOG respectively to provide postpartum confinement care and related services catering to both the Malaysian and Singaporean customers who wish to spend their post childbirth confinement period in Johor, Malaysia.

In this Joint Venture, LYCMC will utilise its expertise in establishing, setting up and running the day-to-day business of the Johor Confinement Centre; while SOG will leverage on its extensive healthcare experience particularly in the field of Obstetrics and Gynaecology and paediatrics, to provide advice to LYCMC in relation to the operations and applicable regulatory matters concerning the Johor Confinement Centre.

The Parties believe that Johor is an attractive location in Malaysia given its population, total live births and median income trailing closely behind Selangor and Kuala Lumpur. The establishment of the Johor Confinement Centre marks SOG's first foray into the overseas market which also aligns the Group's vision and expansion plans to provide comprehensive and holistic healthcare services for women and children.

The Johor Confinement Centre is expected to commence operations with an initial capacity of 60 beds, and eventually ramp up to a capacity of 130 beds. The location of the Johor Confinement Centre is expected to be near the Singapore-Malaysia border to target both Singaporeans and Malaysians who wish to carry out their confinement in Johor. The JointVenture also seeks to establish similar centres in Malaysia as may be agreed by the Parties from time to time.

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Mr. Eric Choo, Chief Executive Officer of SOG said:"We are delighted to partner LYC in this Joint Venture to set up a postpartum confinement centre in Johor. As this is our maiden overseas business venture, we are excited to partner (LYCMC) an established and award-winning postpartum confinement centre operator in Malaysia.

With an increasing demand for postpartum confinement and related services in the Singapore and Malaysia market, we believe the Johor Confinement Centre will be able to meet the needs of both Singaporeans and Malaysians.

With the lifting of COVID-19 travel restriction later and shortage of confinement nannies in Singapore, Singaporeans can seek affordable and quality confinement services in the Johor Confinement Centre which will be located in close proximity to the Singapore-Malaysia border. The customers of the Johor Confinement Centre can expect to be attended to by qualified and professional caregivers providing round-the-clock nursing care for both mothers and babies."

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ABOUT SINGAPORE O&G LTD.

("SOG" or collectively with its subsidiaries, the "Group")

Established since 2011, SOG is a leading healthcare service provider dedicated towards delivering premier quality medical services to women's and children's health and wellness at affordable prices.

With a long and established track record in the Obstetrics and Gynaecology ("O&G") services in Singapore, which provides pre-pregnancy counselling, delivery, pregnancy and post-delivery care, the Group has expanded its spectrum of services to include gynaecological and breast cancer, skin and aesthetic treatments, and paediatrics.

With its clinics strategically located in Singapore, SOG provides women and children easy access to high-quality and trusted healthcare services with a personal touch. In 2020, SOG delivered 2,053 babies in Singapore, representing approximately 10.2% of the total private sector market share in Singapore.

The Group's clinics, under its four operating segments of O&G, Cancer-related, Dermatology and Paediatrics, are strategically located throughout Singapore to provide easy access to its patients.

For more information about the Group, please visit SOG's website atwww.sog.com.sg and follow us on the following social media platforms:

@SOGhealthcare

soghealthcare

For media and analyst queries, please email [e-mail], you may contact:

Ms. Doreen Chew

Chief Financial Officer Tel: [phone]

Email:[e-mail]

ABOUT LYC HEALTHCARE BERHAD ("LYC") AND LYC MOTHER & CHILD CENTRE SDN BHD ("LYCMC")

LYC is a listed company on Bursa Malaysia which comprises several divisions, namely LYC Mother & Child Centre, LYC Specialist & Family Clinic and LYC Senior Living. Each of its divisions is committed to provide dedicated services.

LYCMC is one of the largest and award-winning postpartum confinement centre operators in Malaysia. In April 2018, LYCMC opened its maiden centre in Taman Tun Dr Ismail, Kuala Lumpur with a capacity of 33 beds. Since then, LYCMC has expanded its operations and added two new confinement centres i.e. Puchong Centre in Selangor and Bukit Jalil Centre inKuala Lumpur in May 2019 and July 2020 respectively. Currently, the total capacity of the three (3) centres is 122 beds.

LYCMC aims to offer homely and comfortable environment so as to ensure maximum comfort and well-being of all mothers and newborns. LYCMC offers a comprehensive range of services such as recovery and wellness therapy, postnatal yoga, specialized confinement meals and 24/7 nursery care. The combination of modern medical expertise and postnatal traditional practice has helped new mothers to heal and recover from pregnancy and childbirth. Throughout the confinement period, LYCMC has qualified and professional caregivers to assist in the care of the babies and enable mothers to get the much-needed rest and sleep.

For more information about the LYC and its divisions, please visit LYC's website atwww.lychealth.com.

This press release has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Ms. Jennifer Tan, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318,[e-mail].