SENGKANG PSC, page-20

A wild but tempting speculation: The new owner is SCBPE.

SCBPE converted its convertible notes/warrants on 14 Aug 2018 into a three year loan ($50m) plus the option to purchase 101m shares at 50c/share at any time during the next three years. Today, an opportunity arose to purchase 95m shares at 15c/share. Given that SCBPE undertook due diligence prior to 14 Aug 2018, the offer by Capital to sell their shares may have been too tempting…..In addition, SCBPE still has the option to purchase 101m shares at 50c/share, should the share price warrant it.

In any case, in a few days, we should know as there should be a new significant shareholder or a change in significant shareholder.