VOLUNTARY CONDITIONAL CASH OFFER BY PRIMEPARTNERS CORPORATE FINANCE PTE.LTD.

(Incorporated in Singapore) (Company Registration No.: 200207389D)
for and on behalf of

RALEC ELECTRONIC CORPORATION (Incorporated in Taiwan, R.O.C.) (Company Registration No.: 22101050)

to acquire all the issued and paid-up ordinary shares in the capital of

ASJ HOLDINGS LIMITED

(Incorporated in Singapore) (Company Registration No.: 199601740N)
excluding those held by the Offeree as treasury shares and other than those held directly or indirectly by
Ralec Electronic Corporation

OFFER DECLARED UNCONDITIONAL IN ALL RESPECTS

LEVEL OF ACCEPTANCES FOR 28 MAY 2014

EXTENSION OF CLOSING DATE

1. INTRODUCTION

PrimePartners Corporate Finance Pte. Ltd. ("PPCF") refers to (i) the Offer Document dated 26
May 2014 (the "Offer Document") in relation to the voluntary conditional cash offer ("Offer") by PPCF for and on behalf of Ralec Electronic Corporation ("Offeror") for all the issued and paid-up ordinary shares ("Shares") in the capital of ASJ Holdings Limited ("Offeree") (excluding those held by the Offeree as treasury shares and those held directly or indirectly by the Offeror as at the date of the Offer; and (ii) the announcement dated 26 May 2014 in relation to the despatch of the Offer Document.
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All capitalised terms used and not defined herein shall have the same meanings as ascribed to them in the Offer Document.
Save as otherwise indicated, all references in this Announcement to the total number of issued Shares shall be 272,286,146 Shares (excluding Shares held by the Offeree as treasury shares (if any)) as at 19 May 2014 based on the electronic instant information search results from ACRA in respect of the Offeree on 19 May 2014.

2. OFFER DECLARED UNCONDITIONAL IN ALL RESPECTS

As stated in the Offer Document, the Offer is conditional on the Offeror having received, by the close of the Offer, valid acceptances (which have not been withdrawn) in respect of such number of Offer Shares which, when taken together with Shares owned, controlled or agreed to be acquired by or on behalf of the Offeror and parties acting in concert with it (either before or during the Offer and pursuant to the Offer or otherwise), will result in the Offeror and parties acting in concert with it holding such number of Shares carrying not less than 50% of the total number of issued Shares as at the close of the Offer (including any voting rights attributable to Shares issued or to be issued pursuant to the valid exercise of any outstanding convertible securities which have been issued by the Offeree prior to the closing date of the Offer).
PPCF wishes to announce, for and on behalf of the Offeror, that as the Offeror has on 28 May

2014 received valid acceptances in respect of such number of Offer Shares which, when taken together with the Shares owned, controlled or agreed to be acquired by the Offeror and parties acting in concert with it (either before or during the Offer and pursuant to the Offer or otherwise) result in the Offeror and parties acting in concert with it holding such number of Shares carrying not less than 50%of the total number of issued Shares, the above condition has been fulfilled as at 5.00 p.m. on 28 May 2014. ACCORDINGLY, THE OFFER HAS BECOME UNCONDITIONAL AS TO ACCEPTANCES AND IS HEREBY DECLARED UNCONDITIONAL IN ALL RESPECTS ON THE DATE OF THIS ANNOUNCEMENT. 3. LEVEL OF ACCEPTANCES AND AGGREGATE SHAREHOLDINGS

Pursuant to Rule 28.1 of the Code, PPCF wishes to announce, for and on behalf of the Offeror, that:
3.1 Acceptances of Offer for Shares. As at 5.00 p.m. on 28 May 2014, the Offeror has received valid acceptances (which have not been withdrawn) in respect of 134,076,839 Shares, representing approximately 49.3% of the total issued share capital of the Offeree as at the date of this Announcement. Such valid acceptances include valid acceptances received from certain Undertaking Shareholders, namely, Chen Tie-Min, Seah Eng Lam, Hung Tai Investment Holdings and Hsieh Tsuei-Lien, in respect of 112,958,139 Shares, representing approximately 41.5% of the total issued share capital of the Offeree.
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3.2 Shares held as at 7 May 20141 (the "Offer Announcement Date"). Based on the information available to the Offeror, as at the Offer Announcement Date:

(a) the Offeror owned, controlled or had agreed to acquire 3,200,000 Shares, representing approximately 1.18% of the total issued share capital of the Offeree; and
(b) the Offeror and parties acting in concert with it (including the directors of the Offeror and PPCF) (each a "Relevant Person" and collectively, the "Relevant Persons") owned, controlled or had agreed to acquire an aggregate of 76,265,258 Shares, representing approximately 28.01% of the Shares in the capital of the Offeree.
3.3 Shares acquired or agreed to be acquired between the Offer Announcement Date and up to 5.00 p.m. on 28 May 2014 (other than pursuant to valid acceptances of the Offer). Between the Offer Announcement Date and up to 5.00 p.m. on 28 May 2014, other than pursuant to valid acceptances of the Offer, the Offeror and the Relevant Persons have not acquired or agreed to acquire any Shares.
3.4 Aggregate shareholdings (including acceptances of the Offer for Shares). Accordingly as at
5.00 p.m. on 28 May 2014:
(a) the Offeror owned, controlled or had agreed to acquire 137,276,839 Shares, representing approximately 50.42% of the total issued share capital of the Offeree; and
(b) the Offeror and the Relevant Persons owned, controlled or had agreed to acquire an aggregate of 137,276,839 Shares, representing approximately 50.42% of the Shares in the capital of the Offeree.

4. EXTENSION OF CLOSING DATE

In accordance with Rule 22.6 of the Code, as the Offer has become unconditional as to acceptances, the Offer will remain open for acceptance until 5.30 p.m. on 7 July 2014, being not less than 14 days after 23 June 2014 (the first closing date stated in the Offer Document), or such later date(s) as may be announced from time to time by or on behalf of the Offeror (the "Closing Date").

5. DESPATCH OF OFFEREE CIRCULAR

The directors of the Offeree who are considered independent for the purposes of the Offer (the "Independent Directors") and the independent financial adviser to the Independent Directors on the Offer ought to despatch a circular to Shareholders setting out their views on the Offer in due course and in any event, as required under the Code, within 14 days of the despatch of the Offer Document. Shareholders may wish to consider their advice before taking any action in relation to the Offer.

1 Based on 272,286,146 Shares in issue as at 7 May 2014 as reflected in the electronic instant information search results from the

ACRA in respect of the Offeree on 7 May 2014. The figures are rounded to the nearest two decimal places.

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6. PROCEDURES FOR ACCEPTANCE

Shareholders who wish to accept the Offer but have not done so should complete, sign and forward their FAA and/or FAT (as the case may be) and all other relevant documents as soon as possible so as to reach the Offeror not later than 5.30 p.m. on the Closing Date.
Shareholders who are in any doubt about the Offer or as to the action they should take should consult their stockbroker, bank manager, solicitor, accountant, tax adviser or other professional adviser immediately.
Shareholders who have not received or who have misplaced the Offer Document and/or the relevant form(s) of acceptance should contact CDP (for Depositors) or Boardroom Corporate & Advisory Services Pte. Ltd. (for Scripholders), as the case may be, without delay at the addresses set out below:

For Depositors: For Scripholders:

The Central Depository (Pte) Limited
9 North Buona Vista Drive
#01-19/20
The Metropolis
Singapore 138588
Boardroom Corporate & Advisory Services
Pte. Ltd.
50 Raffles Place
#32-01
Singapore Land Tower
Singapore 048623
Copies of the Offer Document, the FAA and the FAT may also be downloaded from the website of the SGX-ST at http://www.sgx.com.

8. NO REVISION OF OFFER PRICE The Offeror does not intend to revise the Offer Price of S$0.065 in cash for each Offer Share, except that the Offeror reserves the right to do so in a competitive situation. 9. LISTING STATUS AND COMPULSORY ACQUISITION

As stated in the Offer Document, the SGX-ST may suspend the trading of the Shares on the SGX-ST if the percentage of the Offeree's total number of issued Shares (excluding any Shares held by the Offeree as treasury shares) in public hands falls below 10%. In a take-over situation, where the Offeror succeeds in garnering acceptances exceeding 90% of the total number of issued Shares (excluding any Shares held by the Offeree as treasury shares), thus causing the percentage of the total number of issued Shares (excluding any Shares held by the Offeree as treasury shares) held in public hands to fall below 10%, the SGX-ST will suspend trading of the Shares only at the Closing Date.

As stated in the Offer Document, the Offeror intends to make the Offeree its wholly-owned subsidiary and does not intend to preserve the listing status of the Offeree. Accordingly, the Offeror, if entitled, intends to exercise its rights of Compulsory Acquisition under Section 215(1) of the Companies Act (Chapter 50) and does not intend to take steps for the lifting of any trading suspension of the Shares by the SGX-ST in the event that, inter alia, less than 10% of the Shares (excluding any Shares held by the Offeree as treasury shares) are held in public hands. In addition, the Offeror also reserves the right to seek a voluntary delisting of the Offeree from the SGX-ST pursuant to Rules 1307 and 1309 of the Listing Manual.

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10. DIRECTORS' RESPONSIBILITY STATEMENT

The directors of the Offeror (including any who may have delegated detailed supervision of this Announcement) have taken all reasonable care to ensure that the facts stated and all opinions expressed in this Announcement are fair and accurate and that no material facts have been omitted from this Announcement, the omission of which would make any statement in this Announcement misleading, and they jointly and severally accept responsibility accordingly. Where any information has been extracted from published or publicly available sources (including, without limitation, in relation to the Offeree and its subsidiaries), the sole responsibility of the directors of the Offeror has been to ensure through reasonable enquiries that such information is accurately extracted from such sources or, as the case may be, reflected or reproduced in this Announcement.
Issued by

PRIMEPARTNERS CORPORATE FINANCE PTE. LTD.

For and on behalf of

RALEC ELECTRONIC CORPORATION

28 May 2014
Singapore
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