Duty Free International Limited Reports Impairment Charges for the Third Quarter Ended November 30, 2022

Duty Free International Limited is a Singapore-based investment holding. Its core businesses include trading of duty-free merchandise, as well as hospitality services marketed under the Zon brand name. The principal activities of the Company are retailer, wholesaler and distributor of duty-free and non-dutiable merchandise and property management and cultivation of oil palms. The Company operates through two segments: Trading of duty-free goods and non-dutiable merchandise and Investment holding and others. The Trading of duty-free goods and non-dutiable merchandise segment includes revenue from sales of goods. The Investment holding and others segment include revenues from sales of fresh oil palm fruit bunches. It operates duty-free retail outlets/complexes and trading outlets located at various locations throughout Peninsular Malaysia, including Johor Bahru, Bukit Kayu Hitam, Kuala Lumpur International Airport, Penang International Airport, Padang Besar, Langkawi and others.