CNQC International Holdings

CNQC International is principally engaged in the foundation business and machinery rental business in both Hong Kong and Macau. On 23 May 2015, the Company announced an aggregate of 951,872,727 CPS will be issued and allotted to Guotsing SG or its nominee for the acquisition of the property development and construction businesses in Singapore. The integrated business model covering the full industry chain is expected to increase the cost efficiency and enhance the competitive advantages of the Company, as well as to improve the fund raising and financing capabilities of the Company. According to Knight Frank, during the period from 2010 to 2014, the Target Group was ranked the fifth in terms of the number of new sales units sold for private housing and executive condominium projects launched in both the Outside Central Region as well as in the entire Singapore, with a market share of approximately 3.9% and 3.0%, respectively. According to Rider Levett Bucknall, during 2010 to 2014, the market shares of the Target Group in the residential construction market amount to 4.3% in Singapore (measured by the residential construction contracts amount secured by the Target Group against the total amount of the residential construction contracts available in Singapore).