ISP Global Limited ( 於開曼群島註冊成立的有限公司 ) 股份代號 :8487 股份發售 獨家保薦人 滙富融資有限公司 聯席賬簿管理人及聯席牽頭經辦人 滙富金融服務有限公司

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1 ISP Global Limited ( 於開曼群島註冊成立的有限公司 ) 股份代號 :8487 股份發售 獨家保薦人 滙富融資有限公司 聯席賬簿管理人及聯席牽頭經辦人 滙富金融服務有限公司

2 ISP Global Limited 200,000,000 20,000, ,000, %0.0027% 0.005% C %0.0027%0.005% www.hkexnews.hk

3 i

4 (1) (2) (3) (1)(2) ii

5 (i)(ii) iii

6 8. 1,000, B 1,000, (iii) 1,000,0001,000, iv

7 i.... ii... v v

8 I-1... II-1... III-1... IV-1... V-1... VI-1 vi

9 15(i) (ii)(iii)aas (i)gebiz(ii) (i) (ii)3.0 (iii)aas % % (i) GeBiz (ii)

10 % % (i) (a) (b) (ii) (iii) AAS % % (i) (ii) (iii) %70.4% AAS 2

11 AAS AAS AAS AAS 3

12 AAS AAS AAS AAS (i) (ii) AAS AAS AAS24 AAS GeBiz GeBIZ GeBIZ GeBIZ 4

13 ME04 L5 13,000,000GeBIZ EPU/AVP/10S8 10,000,000 (i)(ii) %38.5% % 55.5% %23.8% (i) (ii) (i)(ii) (iii) (iv)(v) 5

14 (i)(ii) (iii)(iv) (v) % % % % % % % % % 6

15 % (i) (ii) ,997,834 8,632,027 2,787,423 3,174,264 1,495,224 1,634,786 1,292,328 1,350, ,110,929 6,538,059 3,207,433 5,719, ,096 2,299,728 2,247,337 3,419,395 3,758,757 3,607,349 5,599,509 6,350,105

16 % % 65.5% 54.7% %36.8% % % AAS

17 ,000,000320,000, ,000, ,000,00020,000, , (1) ISPL600,000 9

18 Express Ventures 97.14%2.86%600,000,00075% Express Ventures , %

19 AAS bizsafe 11

20 ,990,000 12

21 ISP Global Limited Express Ventures 15 13

22 Express Ventures Express Ventures Global Limited %2.86% GeBIZ 14

23 149 15

24 Holy Ark Holy Ark Limited ISO 9001:2015 ISPL ISPL Pte. Ltd

25 ME04 ME04(a) (b) 17

26 799,990, ,000, ,990, ,000,000 15% 1% %0.005% 18

27 180,000,

28 20,000, S S

29 Equity Law LLC7 Temasek Boulevard, Unit 43-03, Suntec Tower One, Singapore GeBIZ

30 1933 %

31 23

32 %82.9% GeBIZ 24

33 %58.1% ME04L5 13,000,000 GeBizEPU/AVP/10 S8 10,000,000 GeBiz 25

34 (LED) %55.5%28.3%23.8%

35 % 82.9% (i)(ii) (iii) (iv) 27

36 28

37 %74.2%

38 30

39 38ME04 L5594ME04 ME04L5 31

40 32

41 ISPL600, ,000300,

42 34

43 35

44 36

45 571V 37

46 ( 38

47 200,000,000 25% 44B(1) 11.23(7) 25% 39

48 Estera Trust (Cayman) Limited 40

49 ,

50

51 2E Bright Hill Crescent, Singapore E Bright Hill Crescent, Singapore Tampines Avenue 1 #12-17 Waterview Singapore C Punggol Central # Singapore RA 43

52

53 Equity Law LLC 7 Temasek Boulevard Unit 43-03, Suntec Tower One Singapore Deloitte & Touche LLP 6 Shenton Way OUE Downtown 2, #33-00 Singapore

54 CT Partners Consultants Limited A

55 Clifton House 75 Fort Street P.O. Box 1350 Grand Cayman KY Cayman Islands 3 Ang Mo Kio Street 62 #01-39 LINK@AMK Singapore E Bright Hill Crescent Singapore E Bright Hill Crescent Singapore

56 Estera Trust (Cayman) Limited Clifton House 75 Fort Street P.O. Box 1350 Grand Cayman KY Cayman Islands B United Overseas Bank Limited Head Office 80 Raffles Place UOB Plaza Singapore

57 470,000 (i)(ii) , , % 49

58 4.0% 20214, % 4.0% % (IMF) 1.8% , , ,000 80,000 70,000 60,000 50,000 40,000 30,000 20,000 10, , , , , , , % 3.1% , , , % 83, (IMF) %

59 % 0.9% (IMF)Statistics Singapore ,336 20, % % ,500 2, , ,000 1,500 1, Statistics Singapore , , % 11.5% , ,

60 ,000 12,000 10, % 11, , ,000 12,000 11, % 12, , ,000 10,000 8,000 8,000 6,000 6,000 4,000 4,000 2,000 2, Statistics Singapore IP 52

61 IP Hardware and software designers and developers ODM/OEM of communication devices Distributors Integrated sound and communication service providers End-users Conceptual design, structure, function and choice of materials for the Sourcing of production materials based on customer or internal Import/export, wholesale and retail of sound and communication Purchase of equipment and provision of consulting, installation and End-users can be educational institutions, public and private buildings, 20123, , % 3.3% 2.0%20214,

62 , ,400 4, ,300 4, , , ,100 4, , , , , , , , ,900 3, , , , , , , , , , Statistics Singapore % %

63 IP

64 Statistics Singapore 20162,500 ME04 ME04 ME

65 (i) (ii) Cse Global limited Fonda Global Engineering Pte. Ltd. Lucky Joint Construction Pte. Ltd. NCS Communications Engineering Pte. Ltd. Nera Telecommunications Ltd Ntegrator Pte Ltd Roots Communications Pte Ltd Siemens Pte. Ltd. Singapore Technologies Electronics Limited Soon Poh Telecommunications Pte Ltd (i)(ii) ME04L %6.4% 8.7% IP 57

66 58

67 (CW) (CR)(ME)(MW)(TR)(SY) (RW) ISPL ME04 (a) L (b) CR

68 (3) ISPL ME04 L5 500,000 (aa) BCCPE (bb) BCCPE (cc) BCCPE CR01 10,000 BCCPE 100,000 60

69 71630 L5L5 (i) (ii) (iii) 61

70 ISPL BizSAFE bizsafebizsafe bizsafe GeBiz S8 250, ME04L6ISPL ME04 L (i) 7.5 (aa) (ii)3.0 (iii) (bb)

71 ISPL ME04 L5 E04 L6 L6L6 354A 500,000 5,000 (1) 1.0 5,000 63

72 64

73 91 4,500 2, (5) ,000 10, A 65

74 (i)(ii) (iii) (iv) =

75 % (R1)(R2) %R1 R2R %R1R2R2 ISPL16R110R2R1 61.5%10%R1 R ISPL 5, (1) (1) (1) (3) 5(1) 5(1) (a) 5,00030,

76 (b) (i) 10,00030, (ii) 20,00060,000 S S 2,200 3, ,000 S 12 15,

77 354 1,600 10, , S 69

78 18% 1.5%5 5, ISPL 70

79 71

80 2002ISPL 2002ISPL ISPL Holy Ark100% ISPL100% 2002 ISPL AAS AAS SGS United Kingdom LtdISO9001: bizsafe

81 AAS AAS AAS AAS ,

82 ISPL ISPL ,00010,000ISPL90,000 10,000ISPL90%10% ISPL (4) Holy ArkISPL 97.14%2.86% 97.14% 2.86% ISPL (1) Express VenturesHoly Ark Express Ventures Express Ventures50, Express Ventures 74

83 Holy Ark Holy Ark50, Holy Ark (2) ,00010,000, Reid Services LimitedExpress Ventures 100,00010,000, Express Ventures (3) ISPLHoly Ark Holy Ark Holy ArkISPL510,00015,000 ISPL6,171,000181,500 ISPL Holy Ark ISPLHoly Ark (4) Holy Ark Holy Ark1, ,171,000181,500 Express Ventures 9,999Express Ventures HolyArtHoly Ark

84 % 2.86% Express Ventures 100% 100% Holy Ark 100% ISPL 76

85 97.14% 2.86% Express Ventures 75% 25% 100% Holy Ark 100% ISPL 77

86 15 (i)(ii) (iii)aas20094 AAS AAS AAS AAS GeBiz % % (i) GeBiz (ii)

87 % % (i) (a) (b) (ii) (iii) AAS % % (i) (ii) (iii) %70.4% 79

88 50 (1) AAS 15 AAS (2) (3) 80

89 (4) (i)(ii) (iii) 81

90 AAS AAS LIFE LIFE19938 LIFE AAS AAS AAS 82

91 LIFEAAS AASAAS AAS (i) AAS AASAAS AAS AAS (ii) AAS AAS AAS AAS 20094AAS 20094AAS 20094AAS AAS1.5 83

92 20133AAS AAS AAS AAS AAS20094AAS AAS201410AAS AAS875, , AAS AAS %13.1% 84

93 AAS (i) (ii) (iii) (iv) 85

94 (i)(ii) (iii)(iv) ISO 9001:2015 bizsafe 86

95 %82.9% %70.4% 8682 AAS 200, , ,000 87

96 67200, GeBiz (i)(ii)(iii) (iv) 88

97 (i) (ii) (i)(ii)(iii) 89

98 10 90

99 35 (i) (ii) (iii)

100 %82.9%GeBiz22.6% 17.1% (i)(ii) Medical Fair Asia CommunicAsia

101 (i)(ii) 2,0003,000 9,2892,077 (i) (ii) (iii) (iv) (a) (b) 93

102 % ME04 ME04 ME04L5 ME04L5 13,000,000 ME04 L6 ME04L6 ME04 17ME04ME04L6 ME04L6ME04 ME04L5 13,000,000 ME04L5ME04ME04 L6ME04 ME04 ME04 ME04 ME04 L6 ME04L6(i)ME04 94

103 (ii) (iii)(iv) ME04L6(i)(ii) (iii)2.5 ME04L6 ME04L6 (i)(ii) (iii) ME04L6ME04L6 (i)(ii)

104 , ,000 50, , , , , ,

105 (i) C (1) G K L M N

106 K O P Q (1) (2) (3)

107 (i) (ii)(iii) (ii) A 1 1, , I 1, J

108 (1) (i) (ii)(iii) (iii) AAS AAS B 1 AAS 3, , B 1 AAS 2,

109 (1) (2) AAS(i) (ii) (iii) (i) (ii)3.0 (iii)aas5.8 (i)(ii) 101

110 (i) H (1) T U E (1) V W X Y AB AC W

111 AH AJ P C (1) F F F F AM AN AO M

112 AQ M AR AS 1, , AU O AV AW AX AY BA BB

113 AQ L 1, , AR BD U AC BE BF BF BF AA BJ

114 BK BL H AL AL BO/BN BP/BO BQ/BP BQ/BP BR/BQ BR/BQ AN AM

115 BS/BR BT/BS BT/BS M F F AP P AQ BU/BT BV/BU BW/BV

116 M F F BX/BW AL BY BZ CA CB CC (1) (2) 108

117 (ii) A 1 1, R 1, (1) (2) (iii) AAS B 1 3, AAS 2. B 1 2, AAS (1) (2) 109

118 110

119 111

120 AAS 112

121 (i)gebiz(ii) GeBIZGeBIZ GeBIZGeBIZ (i) (ii)(iii)(iv) (v) (i) (ii)(iii)(iv) (v) 113

122 % 57.7% % 71.4% AAS AAS201410AAS 20133AASAAS AAS72 AAS84AAS AAS AAS20094AAS 20094AAS20094AAS AAS201410AAS AAS AAS AAS 114

123 (i) (ii) 115

124 (i)(ii) (iii) 10% 116

125 38 117

126 12 2.5%2.5% AAS AAS

127 GeBIZGeBIZ 119

128 GeBIZ (i) (ii) ISO 9001:2015(i) (ii)(iii) (i) 120

129 (ii) (iii) (iv) ISO 9001:

130 (i) (ii)(iii) GeBIZ GeBIZ GeBIZ GeBIZ %38.5% %13.1% (i) (ii)gebiz (iii)(iv) (v) (vi) 122

131 A 2 B AAS 1 3 C 4 D 5 E (1) 123

132 FG 2 F G 2 B AAS 1 3 A 4 H 3060 F G , K (1) (2) FG FG 124

133 5% AAS AAS AASAAS % 125

134 (i)(ii) 10% ISPL ISPL 126

135

136 (i)(ii)(iii)(iv) 128

137 50%100%

138 38 (i) (ii) (i)(ii) (iii) 130

139 ,677230, %4.2% 5.0% %55.5% %23.8% 131

140 A B C D E

141 A F E G B % 133

142 % 55.5% %23.8% (i) (ii) ME04L5 13,000,000GeBIZEPU/ AVP/10S8 10,000,

143 ME04 L5 1. (a) 1 1(b) 1(c) (b) 1 2 (c)

144 2. (a) 1 2(c) (b) 1 2(c) (c) 1 1 2(c) 2(b) 136

145 ME04 L6 1. (a) 2 0 1(b) (b) (a)

146 (b) L5 (i)(ii)e04 L6 2(a)2(b) L5 ME04L5 138

147 ISO 9001:2015 ISPL bizsafe bizsafe Level 3 ISPL bizsafe 2011 bizsafe 3BizSAFE 3bizSAFE 139

148 (i) (ii) (iii) bizsafe I. II. III. IV. 140

149 (i) (ii)(iii) (iv) (i) (ii)(iii) (iv) V (i) (ii)

150 (i)(ii) (i) 142

151 (ii) 38(i) (ii)s 2,200 5,

152 (i) (ii)

153 1,

154 20123, , % 3.3% 2.0% 20214,319.6 (i) (ii) (iii) AAS AAS AAS 146

155 3 Ang Mo Kio 863 Street 62, #01-39, Singapore Cochrane Lodge 1, 48 3, State Land Lot V (PT), 51 Admiralty Road West, Singapore

156 4,

157 (i) (ii) 6A.19 (iii) (iv) 15 (v) (vi) 149

158

159 ISPL Intellink Systems Pte LtdIntellilink Systems Pte. Ltd Bell & Order Engineering Pte. Ltd. 151

160 Intellink Systems Pte Ltd (Singapore Polytechnic) (Temasek Polytechnic) Intellilink Systems Pte. Ltd.Intellink Systems Pte Ltd ISPL Service Centre AACRA (a) (b)(c) (d) ACRA Intellilink Systems Pte. Ltd.ACRA (1) (2) (3) 152

161 ISPL Intellink Systems Pte LtdIntellilink Systems Pte. Ltd Conner Peripherals (S) Pte Ltd Eclipse International (S) Pte Ltd19959 Intellink Systems Pte Ltd (Singapore Polytechnic) (Temasek Polytechnic) Intellilink Systems Pte. Ltd.Intellink Systems Pte Ltd AACRA (a) (b)(c) (d) ACRA Intellilink Systems Pte. Ltd.ACRA 153

162 (1)(2) (3) China Construction (South Pacific) Development Co. Pte Ltd Qingjian Group Co., Pte Ltd Lian Beng Construction (1988) Pte Ltd Jansen SC International Pte Ltd Wee Hur Construction Pte Ltd Chip Hup Hup Kee Construction Pte. Ltd (Nanyang Technological University) (Singaporean Contractors Association Ltd (SCAL)SCAL Academy ISO (CONQUAS)

163 Archispace Designs Kyoob Architects Pte. Ltd. MYA Designs Kann Finch Group20125 Context Architects Pte Ltd (National University of Singapore)20025 (Singapore Board of Architects) (1) (2) (3)

164 (2) (i) (ii)xv (iii) (iv) (v) (vi)17.50(2) (h)(v) 156

165 ISPL Service Centre Intellink Systems Pte LtdIntellilink Systems Pte. Ltd (Singapore Polytechnic) Ernst & Young LLP 20146(Nanyang Technological University) (Nanyang Business School)20179 (i) (ii)(iii) (Manchester Metropolitan University) 157

166 C.3.3 (a) (b) (c) A.5.2 (a) (b) (c) (d) 158

167 B.1.2 (a) (b)(c) (d) 6A.19 6A.23 (i) (ii) (iii) (iv)

168 ,630508, ,907247, ,

169 161

170 XV % 1 Express Ventures 2 600,000,000 75% 600,000,000 75% 3 600,000,000 75% Express Ventures 3. Express Ventures97.14%2.86% Express Ventures 162

171 XV2 3 10% 163

172 Express Ventures 97.14%2.86%75% ISPL (i) (ii) (iii) (iv) (v) 164

173 ,30022 (a) (b)(c) 165

174 (d) (a) (b) (c) (d) 166

175 ISPL ISPL ISPLISPL Express Ventures 30% (i) 167

176 5% (ii) a. b. c. d. (iii) a. b. 168

177 (iv) a. b. c. (i)(ii) 169

178 (a) 20 (b) (c) (d) (e) (f) 170

179 1,500,000, ,000,000 10, ,990,000 5,999, ,000,000 2,000, ,000,000 8,000, (7) 25% 200,000,000 25% 171

180 ,990, ,999,900 (a) 20% (b) 172

181 (a) (b) (c) % 6. (a) (b) 173

182 (c)

183 15 (i)(ii) (iii) AAS % % ISPL Holy Ark ISPL Holy ArkISPL 175

184 %57.7% %71.4% 176

185 20162, %36.4% %10% 5% -5% 10% -10% (142) 142 (284) (157) 157 (315)

186 %18.5% %10% 5% -5% 10% -10% (72) 72 (144) (80) 80 (160)

187 ,997,834 8,632,027 (5,210,411) (5,457,763) 2,787,423 3,174,264 26,328 10,248 (1,161,762) (1,246,788) (58,828) (33,251) (209,598) (97,937) (60,089) 1,495,224 1,634,786 (202,896) (284,190) 1,292,328 1,350,596 (i) (ii)(iii)aas ,947,612 7,133,284 1,174, ,199 AAS 875, ,544 7,997,834 8,632,

188 %82.6% %7.2% AAS AAS %10.1% AAS AAS AAS %63.2% 180

189 ,842,372 3,145,946 1,441,082 1,597, , , , ,297 93,418 87,935 5,210,411 5,457, %57.6% %29.3% % 4.2% %7.3% 181

190 %1.6% %36.8% %36.3% %50.1% AAS AAS %31.3% 182

191 ,300 10, ,900 2, ,690 1,056 2,596 15,852 2, ,328 10,

192 ,542 9, ,328 10, %14.4% , , , ,555 51,529 38,670 49, ,510 62, , ,485 1,161,762 1,246, % 62.0% 184

193 %14.6% ,50038, %3.1% , %0.1% ,50062, %5.0% %15.2% ,80033, %0.4% 185

194 ,078 33,251 15,750 58,828 33, % ,90060, %0.7% ,749 55,982 2,188 4,107 97,937 60,089 17% % 17.4% 186

195 , ,325 (3,584) 25,280 16, , , ,495,224 1,634,786 17% 254, ,914 14,816 50,447 (1,648) (64,460) (40,587) (3,584) 202, , % ,000 10,00075%290,00050% 17% %20% 187

196 25,00010, ,535 4,992 50,925 35,925 64,460 40, (3) (1) (1) 1130 (1)

197 ,831(i) (ii) (i) (ii) Deloitte & Touche LLP 189

198 , ,945(i)2017 (ii) , , % % %

199 AAS AAS 0.9AAS % % % % (i) (ii)

200 ,400 5, ,9005.9% % % % % % %1.9% % % %9.3%

201 AAS AAS AAS % %1.6% AAS ,30016, , % , , % % ,50012, , % 193

202 ,80048, % ,50049, , % ,60018, ,5008.7% , ,80025, , % ,8009, ,90037, , % % 194

203 % % %(i)(ii) % % %

204 ,834,916 3,113,006 (623,444) (4,982) (400,180) (556,323) 811,292 2,551, ,293 1,157,585 1,157,585 3,709,286 (i) (ii) (iii)aas (i) (ii)

205 (i) (ii) ,000 4, ,40072,500 57,30055,

206 ,735 1,864,851 1,708,213 2,118, , , ,093 55, ,024 1,157,585 3,709,286 1,647,146 3,207,433 5,719,123 4,421, ,682 1,736, , ,026 4,300 12, , , , , , , ,096 2,299,728 1,699,881 2,247,337 3,419,395 2,721,

207

208 ,903,982 6,331, , ,947 7,110,929 6,538,059 19,735 1,864,851 1,708, , ,473 55, ,157,585 3,709,286 3,207,433 5,719, ,682 1,736,950 4,300 12, , , , , ,096 2,299,728 2,247,337 3,419,395 9,358,266 9,957,454 41,024 3,473,277 3,346, , ,905 3,758,757 3,607,349 5,599,509 6,350, , ,000 5,074,509 5,825,105 5,599,509 6,350,

209 ,604 2,993 40,345 21, ,446 49,791 78,831 64,097 4,793,347 4,706,196 1,882,409 1,486,112 6,903,982 6,331, % % ,

210 ,564,435 1,490, ,875 86, , ,302 1,864,851 1,708, , , , , , , ,339 10, ,854 37,548 1,564,435 1,490,

211 ,966 71, , , , , ,339 10, ,854 37,548 1,000, , (1)

212 % % % ,353 30,338 64, ,569 67,815 3,675 3, , , %

213 , , ,272 62,498 51, , ,954 86, ,042 54,972 48,163 31,391 81, ,226 14,591 17, ,000 13,978 17, , , ,682 1,736,

214 % % % , , , , , ,725 3, , , (1)

215 % , , ,088 12,432 8,640 6,512 25,920 22,068 12,945 12,444 62,593 53,456 (9,137) 53,456 (12,432) 41,

216 %5.85% ,50053,

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218 ,30039, (i) (ii)

219

220 % (1) (2) (3) (4) (5) (6) % (7) 65.5% 54.7% % % % % % 212

221 %21.3% % 11.0% %54.7%

222

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224 , %

225

226

227 1.0 L

228

229

230

231

232 224

233

234 3.58% % % % %

235 227

236 % 31.9% ,

237 229

238 230

239 (A) (i) (ii) (iii) (iv) (v) 231

240 (vi) (vii) (viii) (ix) (B) (i) (ii) (iii) 232

241 (H5N1)(H1N1) (iv) (v) (vi) (A) (B) (vii) (viii) (ix) (x) (xi) 233

242 (xii) (xiii) (xiv) (xv) (xvi) (xvii) (xviii) (xix) 234

243 (1) (2) (3) (4) (a) 235

244 (b) (c) (a)(b) (d) (a)(b)(c) (a) 155 (b)

245 (12) (a) (b) (a) 237

246 (b) (a) (i)(ii) (i)(iii)(iv) %

247 A

248 (a) 20,000,000 (b) 180,000,000 20,000,000 10% 2.5% 240

249 20,000,000 20,000,000100% (a) ,000,000 30% (b) ,000,000 40% (c) ,000,000 50% 241

250 180,000,000 90% 22.5% 242

251 ,0004,

252 ( ,000,000 15% 244

253 30,000, %28.75% (a) (b) (c) 245

254 (i) (ii) ,

255 S 247

256 3. (i) (ii) (i)

257 (ii) G10 1 N95A 2-34E 2A ISP Global

258 (i) (ii) (iii) (iv) (v) (vi) (vii) 250

259 (viii) (ix) (x) (xi) (xii) (i) (ii) SS902(h)(3) (xiii) (xiv) (xv) (xvi) (xvii) 251

260 (xviii) (xix) (i) (ii)

261 (i) (ii) 253

262 40 254

263 10,00010,

264 (1) (1) (1) (1) (1) (1) E 256

265 6. (i)(ii)

266 8. 10,000 10,

267 www.ispg.hk www.ispg.hk www.ewhiteform.com.hk/ results

268 11. (i) E. 260

269 (ii) (iii) (iv) 100% 261

270

271 (i) 1,000, B 1,000, (ii) 1,000,000 1,000,

272 (iii)

273

274 I-II-36 ISP GLOBAL LIMITED ISP Global Limited I-3I I-3I I-1

275 I I-2

276 A. ISPL Pte. Ltd. ISPL ISPL Deloitte & Touche LLP ,997,834 8,632,027 (5,210,411) (5,457,763) 2,787,423 3,174, ,328 10,248 (1,161,762) (1,246,788) 8 (58,828) (33,251) (209,598) 9 (97,937) (60,089) 10 1,495,224 1,634, (202,896) (284,190) 1,292,328 1,350,596 I-3

277 ,903,982 6,331, , ,947 7,110,929 6,538, , ,864,851 1,708, , , , ,157,585 3,709,286 3,207,433 5,719, ,682 1,736, , , , , , , ,096 2,299,728 2,247,337 3,419,395 9,358,266 9,957, , ,473,277 3,346, , ,905 3,758,757 3,607,349 5,599,509 6,350, , ,000 5,074,509 5,825,105 5,599,509 6,350,105 I-4

278 ,000 3,782,181 4,307,181 1,292,328 1,292, ,000 5,074,509 5,599,509 1,350,596 1,350,596 (600,000) (600,000) ,000 5,825,105 6,350,105 I-5

279 ,495,224 1,634, , ,852 15,750 (5) (39) 97,937 60,089 2,172,142 2,272,688 (181,697) 156,638 45,396 (152,257) 106,889 55,365 17,495 (19,735) (306,483) 800,268 1,853,742 3,112, (18,831) 1,834,916 3,113,006 (623,444) (4,982) (623,444) (4,982) (300,000) 384,000 (560,202) (4,300) (15,044) (53,456) (110,997) (138,478) (97,937) (60,089) (400,180) (556,323) 811,292 2,551, ,293 1,157,585 1,157,585 3,709,286 I-6

280 Clifton House, 75 Fort Street, P.O. Box 1350, Grand Cayman KY1-1108, Cayman Islands No.3 Ang Mo Kio Street 62, #01-39, Singapore AAS 2. 4 ISPL ISPL97.14%2.86% Holy Ark Limited Holy ArkISPL Holy Ark ISPL Express Ventures Global Limited Express Ventures 50, Express Ventures Holy Ark50, Holy Ark ,00010,000, Express Ventures I-7

281 Holy Ark Holy ArkISPL510,00015,000 ISPL6,171,000181,500 Holy Ark ISPLHoly Ark Holy Ark1, ,171,000181,500 Express Ventures9,999 Express Ventures Holy Ark ISPL I-8

282 I-9

283 , I-10

284 I-11

285 (i) 6 (ii) (iii) AAS6 (iv) I-12

286 I-13

287 I-14

288 I-15

289 3090 I-16

290 I-17

291 (1) (2) (3)AAS I-18

292 4 AAS ,947,612 7,133,284 1,174, ,199 AAS 875, ,544 7,997,834 8,632,027 10% I 921,963 * II 882, ,744 * 10% I-19

293 ,542 9, ,328 10,248 15,8522, ,00040% ,000 20% % ,078 33,251 15,750 58,828 33, ,749 55,982 2,188 4,107 97,937 60,089 I-20

294 , , , , , , , ,108 1,432,563 1,550,047 53,528 66, , ,657 2,159,731 2,362,174 46,500 * 2,842,372 3,145,946 * 437, ,210 * , ,325 (3,584) 25 25,280 16, , ,190 17% %20%25,00010,000 10,00075%290,000 50% I-21

295 ,495,224 1,634,786 17% 254, ,914 14,816 50,447 (1,648) (64,460) (40,587) (3,584) 202, , % ,000 3,500 84,000 11, , ,000 3,500 84,000 11, , ,000 7, ,000 23, ,630 I-22

296 ,000 8, ,218 13, , ,000 8, ,218 13, , ,000 16, ,436 27, ,108 (i) (ii) (iii) (iv) (v) (vi) , ,383 11,200 15,529 22,306 34, , , ,000,000180, ,000,0011,500,000270, I-23

297 ISPL , , , ,455 18,000 4,938,600 2,695,017 7,742,596 6,321 55,357 72,509 88,407 57, ,884 (18,000) (18,000) ,121 56, ,964 88,407 4,938,600 2,752,307 8,004,480 4, , ,703 56, ,964 88,407 4,938,600 2,752,307 8,009, , , , , , ,613 52,816 11,076 87, , ,236 (2,250) (2,250) ,517 15,736 57,518 9, , ,898 1,100,498 7,193 18,822 53,655 14,734 87, , , ,710 34, ,173 24, ,404 1,266,195 1,678, ,604 40, ,446 78,831 4,793,347 1,882,409 6,903, ,993 21,923 49,791 64,097 4,706,196 1,486,112 6,331,112 I-24

298 , , ,564,435 1,490, ,875 86, , ,302 1,864,851 1,708, , , , , , , ,339 10, ,854 37,548 1,564,435 1,490,542 I-25

299 ,000, , ,966 71, , , , , ,339 10, ,854 37,548 1,000, , ,353 30,338 64, ,569 67,815 3,675 3, , ,473 I-26

300 ,433,316 4,023,583 (3,377,535) (4,023,167) 55, , , a 206, ,947 b 1,157,585 3,709,286 1,364,532 3,916,233 a % b ,50046, % ,064 47,639 8,257 7,962 I-27

301 , ,272 62,498 51, , ,954 86, ,042 54,972 48,163 31,391 81, ,226 14,591 17, ,000 13,978 17, , , ,682 1,736, , , , , , ,725 3, , , , , I-28

302 ,088 12,432 8,640 6,512 25,920 22,068 12,945 12,444 62,593 53,456 (9,137) 53,456 (12,432) 41, % % I-29

303 ,611,755 3,473, , , ,833 89, , ,215 3,061,786 2,954,785 3,611,755 3,473,277 (138,478) (126,833) 3,473,277 3,346, % , ,456 25,280 16, , , ISPL ,279 39,590 I-30

304 ,000 14, % 5, %6, ,15893, ,59117, ,611,755 3,473, ,485291, , ,840 23,630 27, , ,108 I-31

305 ,864,851 1,708,213 61,353 30, , ,947 1,157,585 3,709,286 3,290,736 5,654, ,770 1,568,745 4,300 3,611,755 3,473,277 4,110,825 5,042,022 (a) I-32

306 ,000 14,400 10% ,30014,000 (b) % I-33

307 %26% (c) , , ,770 4,300 4,300 4, % 5,388 5,380 4,320 34,560 12,945 62,593 53, % 48,615 48,615 97,230 1,057,894 4,892,793 6,145,147 3,611, ,073 53, ,550 1,092,454 4,905,738 6,706,810 4,164, ,568,745 1,568,745 1,568, % 48,615 48,615 97,230 1,151,245 4,604,982 5,950,687 3,473,277 1,617,360 48,615 97,230 1,151,245 4,604,982 7,519,432 5,042,022 I-34

308 (d) Holy Ark % (a) ISPL , % 100% 100% (b) 630 (a) Holy Ark (b) ISPL Deloitte & Touche LLP I-35

309 (i) 1,490,000,000100,00010,000, ,000,0001,500,000, (ii) 5,999, ,990, (iii) I-36

310 A ,350,105 6,276,205 12,626, ,350,105 9,464,358 15,814, II-1

311 (1) (2) ,000, (3) ,000, (4) (5) ,860 5,980 II-2

312 B. ISP Global Limited ISP Global Limited II-1II II-1II II-3

313 1 7.31(7) II-4

314 (a) (b) (c) 7.31(1) II-5

315 (852) (852) ISP Global Limited III-1

316 (Singapore Land Authority) III-2

317 82012 III-3

318 3 Ang Mo Kio Street 62 #01-39 Singapore ISP Global Limited MFin BSc (Hons) Land Adm. MHKIS MCIREA RPS (GP) III-4

319 Ang Mo Kio ,000,000 Street 62, 3 #01-39 LINK@AMK, LINK@AMK20 Singapore 3 Ang Mo Kio Street ,000,000 (Nanyang Polytechnic) (Yio Chu Kang Stadium)(Yio Chu Kang) (Singapore Land Authority) 6707, ,077 MK18-U114350V III-5

320 (1) ISPL Pte. Ltd IE/290112M (2) AMK LINK Development Pte. Ltd. ISPL Pte. Ltd ,800,000 5,100,000 (3) MK C(State Title Lease) (4) (Strata Title Application)IE/175922B MK18-U114350VMK C 100, (5) ,840, ID/560668P (6) ISPL Pte. Ltd.Chen Yu Services Pte. Ltd , (7) 20141(B1) (8) (9) (i) (ii) (iii) (iv) (v) (10) Equity Law LLC (i) (ii) (iii) (iv) (v) III-6

321 (a) (b) (a) (i) (ii) IV-1

322 (iii) (a) (b) (c) (d) (e) (f) (g)(h) (iv) IV-2

323 30 (v) (vi) IV-3

324 (vii) 20% 20% % IV-4

325 (b) (i) IV-5

326 (aa) (bb) (cc) (dd) (ee) (ff) (6) (gg) (hh) (ii) IV-6

327 (iii) (iv) IV-7

328 (v) IV-8

329 (vi) (vii) (viii) IV-9

330 (aa) (bb) (cc) (dd) (i) (ii) (ee) (ix) IV-10

331 (c) (d) (i) (ii) (a) (b) IV-11

332 (A) (B) (C) (iii) 15 IV-12

333 (iv) (i) (ii) 95% (v) IV-13

334 (vi) (e) 21 IV-14

335 21 21 (f) (i) (ii) (iii) IV-15

336 (aa) (bb) 20% IV-16

337 (g) (h) 3(f) (i) (i) (ii) IV-17

338 (j) (a) (b) (i) IV-18

339 (ii) (iii) 37 (iv) (v) (c) (d) IV-19

340 37A(1) (e) (f) Foss v. Harbottle IV-20

341 (g) (h) (i)(ii) (iii) 2013 (i) (j) (i) IV-21

342 (ii) (aa) (bb) 20116(3) (k) (l) (m) (n) 2013 IV-22

343 (o) 60 (p) (i)(ii)(iii) (i)(ii) IV-23

344 (q) 75% (r) 90% (s) IV-24

345 4. IV-25

346 (a) 100,00010,000, Express Ventures (b) Holy Ark1, ,999Express VenturesExpress Ventures (c) ,490,000,000100,00010,000, ,000,0001,500,000, (d) 15,000,0001,500,000,000 8,000,000800,000, ,000,0003. V-1

347 (a) (b) 1,490,000, ,00010,000, ,000,0001,500,000, (c) (i) (ii) (iii) 30 (i) (ii) 5,999, ,990,000 V-2

348 (iii) (aa) 20%(bb) (iv) (iii) (iv) 10% (iv) V-3

349 (v) (a) (i) % V-4

350 (ii) (iii) (iv) 10% 10% 30 5% (v) V-5

351 (vi) (1) (2) (vii) 30 (b) 800,000,000 80,000,000 V-6

352 (c) (d) (e) 26 V-7

353 25% 7. (a) Holy Ark Holy Ark 525,000ISPL6,352,500 Holy Ark51015 (b) ,050 Holy Ark6,352,500 (i)express Ventures 9,999(ii)Express Ventures (c) (d) (e) V-8

354 8. (a) ISPL S ISPL 38 T D ISPL 37 T F ISPL 9 T H (b) ispl.com ISPL ispg.hk ISPL V-9

355 9. (a) (a) (b) 288,240240, (a) 21,000 (b) V-10

356 (b) (i) 288, ,240 21,000 21,000 21,000 (ii) (iii) , ,108 (iv) ,980 (v) (vi) (vii) V-11

357 (c) XV (i) 1 600,000,000 75% 1 600,000,000 75% 1. Express Ventures97.14%2.86% Express Ventures V-12

358 (ii) Express % Ventures 1 Express % Ventures 1 1. Express VenturesXV 10. XV % Express Ventures 600,000,000 75% V-13

359 11. (a) XV23 10% (b) XV78 XV (c) 20. (d) (e) 20. V-14

360 V-15

361 (a) (b) (c) (d) (e) (f) (g) V-16

362 (h) (a) (b) (d) (c) XIVA(i) (ii) V-17

363 % 12 1% (d) (i) (ii) (iii) V-18

364 (e) (i) 10% 800,000,00080,000,000 10% (ii) 10% 10% (iii) 10% (iv) 30% 30% (v) (f) V-19

365 (g) (h) 12 (i) (i) (ii) (iii) (iv) (e)(c) V-20

366 (j) 14 (k) (i) (h) V-21

367 (ii) (h) (l) (m)(v) (m) (i) (ii) (h)(l) (iii) (j) (iv) (k)(i) V-22

368 (v) (vi) (k)(ii) (vii) (g) (viii) (n) V-23

369 (o) (p) (q) (i)(ii) V-24

370 (r) 23.04(1) 12 (i) 0.1% (ii) (3) V-25

371 23.04(1)(2)(3) (s) (i) (ii) 13. (a) (b) (i) (b) (ii) (iii) (iv) V-26

372 (c) (a) (b) (i) (ii) (c) (d) V-27

373 (e) (a)(b)(c) 10%5.3 6A V-28

374 18. 4,30033, Equity Law LLC V-29

375 21. 44A44B L4 23. (a) (i) (ii) 0.1% 5 (iii) V-30

376 (b) (c) 24. (a) (i) (aa) (bb) (cc) (dd) (ii) V-31

377 (iii) 24 (iv) (v) (vi) (vii) (b) Estera Trust (Cayman) Limited V-32

378 i. ii. 20. iii (a) (b) (c) (d) (e) (f) (g) VI-1

379 (h) (i) Equity Law LLC (j) 9. (a) (k) 12. (l) 7. (m) 20. VI-2

380 ISP Global Limited

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