Singapore Kitchen Equipment : Application For Extension Of Time For Full Year Results, Annual Report And Agm Fy2021

SINGAPORE KITCHEN EQUIPMENT LIMITED

(Company Registration No.: 201312671M)

(Incorporated in Singapore)

APPLICATION FOR EXTENSION OF TIME:

1. FOR THE RELEASE OF FULL YEAR UNAUDITED FINANCIAL STATEMENTS AND
   RELATED ANNOUNCEMENT ("FULL YEAR RESULTS ANNOUNCEMENT")
2. TO HOLD ANNUAL GENERAL MEETING ("AGM")
3. ISSUE OF ANNUAL REPORT

FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2021 ("FY2021") TO COMPLY WITH THE SINGAPORE EXCHANGE SECURITIES TRADING LIMITED ("SGX-ST") LISTING MANUAL SECTION B: RULES OF CATALIST ("CATALIST RULES")

The Board of Directors ("Board") of Singapore Kitchen Equipment Limited (the "Company" and together with its subsidiaries, the "Group") wishes to inform that the Company has made an application on 24 February 2022, through the Company's sponsor, to the SGX-ST for an extension of time to comply with the requirements of the following:

1. an extension of 3 months from 1 March 2022 to 31 May 2022 to announce its Full Year Results Announcement FY2021 to comply with Rule 705(1) of the Catalist Rules.
2. an extension of 3 months from 30 April 2022 to 31 July 2022 to hold its AGM FY2021 to comply with Rule 707(1) of the Catalist Rules.
3. an extension of time to issue its Annual Report FY2021 to the shareholders and SGX-ST at least 14 days before the date of its AGM FY2021, tentatively on 15 July 2022 to comply with Rule 707(2) of the Catalist Rules.

(collectively, "Extension Applications")

The Company will apply to the Accounting and Corporate Regulatory Authority ("ACRA") for an extension of time to hold its AGM FY2021 under Section 175(1) of the Companies Act 1967 of Singapore (the "Act") and to lodge its annual returns for FY2021 under Section 197(1) of the Act.

Reasons for Extension Applications:

1. Foo Kon Tan LLP, the independent Auditors ("EA") was appointed at the AGM of the Company held on 6 November 2021, FY2021 is their first year of audit for the Company and the Group. The EA would require more time to perform and complete its audit procedures, obtain sufficient appropriate audit evidence regarding opening balances, and to finalise the financial statements before signing off its Independent Auditor's Report;
2. The Company has appointed a new Group Chief Financial Officer ("CFO") on 21 February 2022 in place of the resigned Group CFO. The change of CFO is coupled with some other changes in other key personnel within the Finance Team including the new appointment of a Finance Manager on 14 February 2022;
3. The Company and Finance Team would also require more time to consolidate the necessary information and documents, prepare Annual Report FY2021 including proof reading, perform accuracy checks, printing and/or publication of the Notice of AGM and Annual Report FY2021 to the shareholders and SGX-ST after the completion of audit review by the EA; and
4. Work flow disruptions impacted by prolonged COVID-19 pandemic in Singapore and Malaysia have caused delay in completing critical audit confirmations required by the EA.

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In view of the above, the Company is of the opinion that the Extension Application would allow the Company sufficient time to work with all new parties be it internal and external professionals, update the Board of the status, finalise the financial statements and Annual Report FY2021 and make the relevant arrangements for the AGM FY2021.

The Company will make further announcements to update its shareholders on the outcome of the above applications to the SGX-ST and ACRA respectively in due course.

By Order of the Board

SINGAPORE KITCHEN EQUIPMENT LIMITED

Chua Chwee Choo

Executive Director and Chief Executive Officer

24 February 2022

This announcement has been reviewed by the Company's sponsor, RHT Capital Pte. Ltd. (the "Sponsor"), for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited ("SGX-ST"). The Sponsor has not independently verified the contents of this announcement. This announcement has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The details of the contact person for the Sponsor are as follows:

Name: Ms Bao Qing (Registered Professional, RHT Capital Pte. Ltd.)

Address: 6 Raffles Quay, #24-02, Singapore 048580

Email: sponsor@rhtgoc.com

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