Further to the announcement made on 5 October 2018, Zelan Berhad (“ZB”) wishes to announce that its wholly owned subsidiary, Zelan Holdings (M) Sdn Bhd (“ZHSB”), had received the Final Award dated 11 July 2019 (“Award”) issued by the Arbitral Tribunal in the Singapore International Arbitration Centre and the Award states as follows:

(a) ZHSB shall pay Dongfang Electric Corporation (“Dongfang”) the sum of USD1,146,000.00 with interest of 4.77% per annum from 3 July 2018 until the date of payment;

(b) ZHSB shall pay Dongfang the sum of USD122,945.70 being late payment interest for the period from 19 November 2015 to 2 July 2018;

(c) ZHSB shall pay Dongfang’s legal costs and expenses incurred in this arbitration fixed at SGD103,000.00; and

(d) ZHSB shall bear the costs of the arbitration in the amount of SGD64,891.35.

This Announcement is dated 12 July 2019.