WE DESIGN LOGISTICS

The Board of Directors of CJ Century is pleased to announce that its wholly-owned subsidiary company, CJ Century Logistics Sdn Bhd (“CJCL”), has received the letter of certification as an Authorized Economic Operator (“AEO”) by the Royal Malaysian Customs Department dated 1 September 2022.

INTRODUCTION

Following the September 11, 2001 attack on the New York World Trade Centre, the world’s major economies developed security partnerships to protect the trade supply chain and ensure the smooth flow of legitimate trade and continuation of global economic prosperity.

The World Customs Organization (“WCO”) took note of these developments and introduced the SAFE Framework of Standards to Secure and Facilitate Trade to provide guidelines on the standards of security to be implemented by operators throughout the trade supply chain. An AEO, as defined by WCO, is a party involved in the international movement of goods in whatever function that has been approved by or on behalf of a national customs administration as complying with WCO or equivalent supply chain security standards.

BENEFITS

The AEO certification enables CJCL to offer the following benefits to selected customers:

• Priority customs clearance both at origin and destination
• Release from Customs Control with minimal data
• Lower rate of physical inspections of imported or exported goods
• Faster release of shipments
• AEO certifications are recognized by all Customs Authorities
• Deferred payment of duties
• Use of Consolidated Statement (CS) to apply for Certificate of Origin (Form D) for the purpose of claiming Common Effective Preferential Tariff (CEPT) from the Ministry of International Trade and Industries
• Use of self-accounting for claims under certain sections of the Customs Act 1967 and the Sales Tax Act 1972
• Goods involving duty drawback/refund exported are allowed to be released without physical examination
• Enhanced security and improved risk mitigation

This announcement is dated 2 September 2022.