WE DESIGN LOGISTICS

We wish to refer to the article entitled “Century Logistics' Major Shareholders Seek Exit” that appeared in The Edge Financial Daily today, 5 January 2015.
 
The Company has promptly conducted a due inquiry on the article with the major shareholders of the Company, i.e. Datuk Phua Sin Mo, Teow Choo Hing and Teow Choo Chuan. Upon due inquiry, we wish to advise that the stated intention of the major shareholders looking to sell their equity interests in the Company is completely untrue.

It was also mentioned in the article that Century was in talks with Felda Global Ventures Holdings Berhad; of which the Company had previously made a statement that the said collaboration will not proceed.

The major shareholders have further reiterated that they will take the lead to charge ahead and ensure continued growth of the Company in the years to come, and the leadership for this charge will come from both Datuk Phua Sin Mo and Teow Choo Hing.

The Company wishes to make a further correction to the Edge Article in that Teow Choo Chuan has since 14 August 2014, resigned as an Executive Director.

This announcement is dated 5 January 2015.