ASIA ENTERPRISES HOLDING LIMITED

(Company Registration No. 200501021H)

(Incorporated in Singapore)

(the "Company")

UPDATE ON THE GROUP'S OPERATIONS

The Board of Directors (the "Board") of Asia Enterprises Holding Limited (the "Company" and together with its subsidiaries, the "Group") wishes to provide on update on its business operations.

On 3 April 2020, a Multi-Ministry Taskforce in Singapore announced the implementation of an elevated set of measures as a circuit breaker to reduce the risk of further local transmission of Covid-19. The measures include the closure of most physical workplace premises, save for those providing essential services and in selected economic sectors, from 7 April 2020 to 4 May 2020.

The Group wishes to inform that it has received the approval from the Ministry of Trade and Industry in respect of its application for an exemption of suspension of workplace activities at its premises in Singapore. Hence, the Group will continue to operate its steel distribution business which forms part of the supply chain for essential services such as the marine & offshore engineering services.

By order of the Board

Lee Yih Chyi

Managing Director

8 April 2020

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Asia Enterprises Holding Limited published this content on 08 April 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 April 2020 12:52:13 UTC