The Board of Directors of Hi-P International Limited refers to the Company's announcement dated 25 August 2016 in relation to the revolving credit facility of USD 15,000,000 ("RCF") from The Hongkong and Shanghai Banking Corporation Limited. Further to the Announcement, the Board of Directors of the Company announce that the RCF has been cancelled due to non-utilization. The cancellation of the RCF is not expected to have any material effect on the net tangible assets per share and earnings per share of the Company and the Group for the current financial year ending 31 December 2019.