FSM Holdings Limited (1721) released a supplemental announcement dated 23 October 2025, clarifying that the entity itself is not sanctioned, even though it is deemed subject to certain measures introduced by the Office of Foreign Assets Control (OFAC). This follows an earlier announcement on 21 October 2025.

The announcement indicates that Mr. Li indirectly holds approximately 60.23% of FSM Holdings Limited and is named in an OFAC press release dated 14 October 2025. As a result, all transactions by U.S. persons within or transiting the United States involving FSM Holdings Limited or its interests are prohibited, unless specifically authorized or exempt. However, to the best of the company’s knowledge, the Group operates primarily in Singapore, Malaysia, Hong Kong, and the People’s Republic of China, with material assets located in Singapore and Hong Kong, and major business activities taking place outside the United States.

Mr. Li no longer holds any directorships or positions within FSM Holdings Limited and its subsidiaries. According to the announcement, the company does not expect these measures to significantly impact its operations, although legal advice is being sought to further understand possible implications. Shareholders and prospective investors are advised to exercise caution when dealing in the securities of FSM Holdings Limited.