General Announcement::HHL_Change in Corporate Information::Incorporation of New Subsidiary

(Incorporated in the Republic of Singapore) (Company Registration No. 199400676Z)

The Board of Directors (the "Board") of Hiap Hoe Limited (the "Company") is pleased to announce that the Company's wholly-owned subsidiary, Meteorite Group Pte. Ltd. ("MGPL") has established a new wholly owned subsidiary, Meteorite Assets Pte. Ltd. (the "New Subsidiary"). The details of the New Subsidiary are as follows:

Name of subsidiary : Meteorite Assets Pte. Ltd. ("MAPL")

Place of incorporation : Singapore Amount of issued and paid up capital : S$ 2.00 Shareholding held by MGPL : 100%

Principal activities : Investment Holding

Directors : Mr Teo Ho Beng

Mr Roland Teo Ho Kang Ms Teo Poh Sim

Mr Teo Keng Joo, Marc Ms Teo Li Yin, Mabel

Pending commencement of its business operations, the incorporation of MAPL is not expected to have any material impact on the earnings per share or net tangible assets per share of the Company for the current financial year.

Save as disclosed in this announcement, none of the directors or controlling shareholders of the Company has any interest, direct or indirect (other than through their shareholdings in the Company), in the above transaction.

BY ORDER OF THE BOARD

Ong Beng Hong

Joint Company Secretary 19 May 2017