NGSC Limited

(Company Registration Number: 196400100R)

(Incorporated in the Republic of Singapore)

MONTHLY VALUATION OF ASSETS AND UTILISATION OF CASH

FOR THE MONTH OF JUNE 2021

The board of directors (the "Board" or the "Directors") of NGSC Limited (the "Company") wishes to announce the following pursuant to rule 1018(1) of the Singapore Exchange Securities Trading Limited ("SGX-ST") Listing Manual:-

Monthly valuation of assets and utilisation of cash

(a) The Group's assets and liabilities as at 30 June 2021 were as follows: -

S$'000

Assets

Cash and bank balances

13,245

Trade and other receivables (1)

311

Plant and equipment

240

Total assets

13,796

Liabilities

Other payables and accruals (3)

3,921

Lease liabilities

247

Total liabilities

4,168

Net assets

9,628

Notes:

  1. Trade and other receivables mainly comprise other receivables of S$15k, deposit on account placed with a legal firm and rental deposit total amounting to S$147k, staff loan of S$ 117k and prepayment amounting to S$33k.
  2. Other payables and accruals mainly consist of provision for directors' fee, accruals, third party payables and an amount due to the joint venture amounting to approximately S$0.8 million, S$0.6 million, S$0.1 million and S$2.3 million respectively.

1

(b) The Group's utilisation of cash from 1 June 2021 to 30 June 2021 was as follows: -

Opening cash and bank balances Add receipts:

Job support scheme from government Less payments:

Other administrative and operating expenses Closing cash and bank balances

S$'000

13,389

3

(147)

13,245

All figures set out in this announcement have not been reviewed or audited by the Company's auditors.

By Order of the Board

NGSC LIMITED

Dr Michael Kuan-Chi Sun

Executive Director

3 September 2021

2

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Next-Generation Satellite Communications Limited published this content on 03 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 September 2021 10:51:03 UTC.