The Board of Directors of SKL wishes to announce that the Company had on 18 November 2025 received the Letter of Approval from Labuan Financial Services Authority ("FSA") in relation to the licence to carry on leasing business in Labuan IBFC ("Approval").

The Approval will enable Sin-Kung Leasing Pte. Ltd. ("SKLPL") to carry on leasing business as defined under Section 90 of the Labuan Financial Services and Securities Act 2010 ("LFSSA") in, from or through Labuan, pursuant to Section 92(1) of the LFSSA; and conduct leasing transaction with Sin-Kung Airways Sdn. Bhd. (formerly known as Prima Air Sdn. Bhd.) for the lease of one (1) unit of Boeing aircraft B737-400SF, bearing Manufacturer Serial Number (MSN) 27660.

Following the Approval, the Group will proceed to submit necessary documents for the incorporation of SKLPL and to comply with the relevant conditions, prior to the commencement of its business in Labuan.

The Board of Directors is of the view that the Approval is in the best interest of the Company and its subsidiaries (collectively referred to as "the Group") and is expected to contribute positively to the earnings and net assets per share of the Group for the financial years ending 31 December 2025 onwards.

This announcement is dated 18 November 2025.