Asset Acquisitions and Disposals::Proposed disposal of a Singapore property by a wholly-owned subsidiary

Lorenzo International Limited is a Singapore-based vertical integration furniture retailer. The Company, through its subsidiaries, is engaged in design, manufacture, assembly and distribution of conceptualized furniture. The Company’s product categories include sofas, accent chairs, accent furnishing and leather cleaning kit. Its sofas include seater, seater sofas, fabric sofas, L-shape sofas and recliner sofas and chairs. Its accent chairs include armchairs, bar chairs and office chairs. Its accent furnishing includes full leather round ottoman (large), full leather round ottoman (small), full leather mini stool (rectangle), bar table (wood), leather ottomon-cube/square, metal side table and others. Its leather sofa cleaning kit consists of superior cleaning and protection items such as the rapid cleaner, leather protection cream and the ink away stick. It has it showrooms in Singapore, Malaysia, Taiwan, and LRS/Export.