General Announcement::RECEIPT OF LEGAL LETTER

The Board of Directors (the Board ) of Transcorp Holdings Limited (the Company ) wishes to announce that the Company has received a legal letter on 11 February 2020 from the solicitor of Ace Financial Services Pte. Ltd. ( Ace Financial ) for the amount of S$45,216.00 arising from office rental expenses and accrued interest payable to Ace Financial.

The Company is reviewing the claim and will keep the shareholders informed on material developments.

DIRECTORS RESPONSIBILITY STATEMENTS

The Directors collectively and individually accept full responsibility for the accuracy of the information given in this announcement and confirm after making all reasonable enquiries, that to the best of their knowledge and belief, this announcement constitutes full and true disclosure of all material facts about the legal letter, the Company and its subsidiaries and the Directors are not aware of any facts the omission of which would make any statement in this announcement misleading. Where information in this announcement has been extracted from published or otherwise publicly available sources or obtained from a named source, the sole responsibility of the Directors has been to ensure that such information has been accurately and correctly extracted from those sources and/or reproduced in this announcement in its proper form and context.

BY ORDER OF THE BOARD

Chia Siak Yan Vincent
Non-Executive Acting Chairman and Independent Director

13 February 2020

This announcement has been prepared by the Company and its contents have been reviewed by the Company's ( Sponsor ), Asian Corporate Advisors Pte. Ltd., in accordance with Rules 226(2)(b) and 753(2) of the Singapore Exchange Securities Trading Limited ( Exchange ) Listing Manual Section B: Rules of Catalist for compliance with the relevant rules of the Exchange The Company's Sponsor has not independently verified the contents of this announcement including the correctness of any of the figures used, statements or opinions made.

This announcement has not been examined or approved by the Exchange and the Exchange 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 contact person for the Sponsor is Mr. Liau H. K.
Telephone number: 6221 0271