Hongkong Chinese Limited (655) and Lippo Limited: Update on Singapore High Court Appeal

Bulletin Express

02/04

Hongkong Chinese Limited (the “Company,” Stock Code: 655) and Lippo Limited (a former holding company of the Company) jointly noted in earlier announcements that the High Court in Singapore awarded the Bank approximately S$17.7 million in damages over loans disbursed to independent third-party customers purchasing flats at Marina Collection, Sentosa.

According to the latest update, the Bank has filed an appeal to the Appellate Division of the High Court in Singapore, contesting the quantum of the S$17.7 million. The appeal is scheduled for May 2026. The Company indicates that while the outcome may affect its results, it is not expected to have a material impact on the Group’s overall asset value or financial position. It notes that any actual impact will be confirmed only after a review by the Company’s auditor.

Shareholders and investors are advised to exercise caution when dealing in the Company’s shares.

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