We refer to our announcement made on 22 January 2019 in relation to the term sheet dated 22 January 2019 (“Earlier Announcement”) entered into between the Company and Credit Culture Pte. Ltd. (“CC”) for the proposed subscription of private debt securities of up to the nominal value of SGD40.0 million (equivalent to approximately RM120.4 million) to be issued by CC in different tranches from time to time.

Further to the Earlier Announcement, the Board of Directors of RCE wishes to announce that RCE Credit, a wholly-owned subsidiary of RCE, had on 29 March 2019 entered into a subscription agreement (“Subscription Agreement”) with CC for the proposed issue by CC, and subscription by RCE Credit, of notes with an aggregate principal value of up to SGD40.0 million (equivalent to approximately RM120.4 million) comprising two equal tranches of SGD20.0 million each (equivalent to approximately RM60.2 million) (“Proposed Investment”).

Further details on the Proposed Investment are set out in the attachment.

This announcement is dated 29 March 2019.