The Board of Directors of New Wave Holdings Ltd. refers to "Circuit Breaker" measures implemented by the Singapore Government to curb the further spread of COVID-19. Under the COVID-19 Act 2020, all workplaces except for those providing essential services and those able to operate remotely will be suspended from 7 April 2020 to 4 May 2020 ("CB Period"). Accordingly, company have suspended operations at all workplaces in Singapore during the CB Period. Staff who can operate remotely, including the administrative and accounts staff, are working from home. The Board also refers to the Company's previous announcement dated 26 March 2020 on the impact of the closure of business premises in Malaysia pursuant to the Movement Control Order ("MCO") imposed by the Malaysian Government to curb the further spread of COVID-19. The Malaysian Prime Minister has on 10 April 2020 announced that the MCO will be further extended to 28 April 2020. In compliance with the extension of the MCO, all the Group's factory and office premises in Malaysia's Johor and Penang will remain closed accordingly and all factory operations temporarily suspended, with employees in the administrative and accounts function working from home where necessary. The Group will resume its business operations in Malaysia after the expiry of the MCO, subject to any further directive(s) from the Malaysian Government.