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SILVERLAKE AXIS LTD(Company Registration No. 32447)

(Incorporated in Bermuda on 29 July 2002)

Directors Registered Address GohPengOoi(ExecutiveChairman) ClarendonHouseDrKwongYongSin(ManagingDirector) 2ChurchStreetDatukSulaimanbinDaud(Director) HamiltonHM11OngKianMin(IndependentDirector) BermudaTanSriDato’DrLinSee-Yan(IndependentDirector)LimKokMin(IndependentDirector)

3October2011

To:TheShareholdersofSilverlakeAxisLtd(“Shareholders”)

DearShareholder

I. PROPOSED RENEWAL OF SHARE PURCHASE MANDATEII. PROPOSED RENEWAL OF INTERESTED PERSONS TRANSACTIONS (“IPT”) GENERAL MANDATE

We refer to theNoticeofAnnualGeneralMeeting (“Notice of AGM”) ofSilverlakeAxis Ltd (“Company”)dated3October2011inrespectoftheAnnualGeneralMeetingtobeheldon18October2011atPanPacificSingapore, 7 Raffles Boulevard Marina Square, Singapore 039595 at 11.00 a.m. (“AGM”) and OrdinaryResolutions10and11setoutunder“Special Business”intheNoticeofAGM(“Resolutions 10 and 11”).

I. PROPOSED RENEWAL OF SHARE PURCHASE MANDATE

1. Background

Shareholdershadapprovedamandate(“2008 Share Purchase Mandate”)attheSpecialGeneralMeetingoftheCompanyheldon24October2008toenabletheCompanytopurchaseorotherwiseacquireissuedordinarysharesinthecapitaloftheCompany(“Shares”).The2008SharePurchaseMandatewasrenewedbyShareholdersattheAnnualGeneralMeetingoftheCompanyin2009andagainattheAnnualGeneralMeetingoftheCompanyin2010(“2010 Share Purchase Mandate”).TheauthorityconferredontheDirectorsunderthe2010SharePurchaseMandatewillexpireattheforthcomingAGMunlessrenewedbytheShareholders.

Accordingly,theDirectorsproposetoseektheapprovalofShareholdersfortherenewalofthe2010SharePurchaseMandate (“Renewed Share Purchase Mandate”), to take effect and continue inforceuntiltheconclusionofthenextAnnualGeneralMeetingoftheCompanyin2012.TheproposedRenewedSharePurchaseMandateissetoutinResolution 10.ThepurposeofthisletteristoprovideShareholderswithinformationrelatingtotheproposedRenewedSharePurchaseMandate.

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2. Rationale for the proposed Renewed Share Purchase Mandate

TherationalefortheCompanytoundertakethepurchaseoracquisitionofitsSharesisasfollows: (a) Sharepurchasesmaybeconsideredasoneofthewaysthroughwhichtheshareholdervalue

maybe increasedbyenhancing the returnonearnings (“ROE”)and/ornet tangibleassets(“NTA”)valuepershare.Thiseffectisgreaterthemoreundervaluedthesharesarewhentheyarepurchased.Ifsharesareundervalued,thismaybethemostprofitablecourseofactionforthecompany;

(b) Buying back shares alsomeans that the Company’s earnings are now split among fewershares,meaninghigherearningspershare(“EPS”),and

(c) BuyingbacksharesprovidestheCompanywithamechanismtofacilitatethereturnofsurpluscashover andabove its ordinary capital requirements in anexpedient, effective and cost-efficientmanner.

TheDirectorsfurtherbelievethatSharepurchasesbytheCompanymayhelptomitigateshort-termmarketvolatilityintheCompany’sShareprice,off-settheeffectsofshort-termspeculationandbolsterShareholders’confidence.

ByobtainingtheproposedRenewedSharePurchaseMandate,theCompanywillhavetheflexibilitytoundertakepurchasesofSharesatanytime,subjecttomarketconditions,duringtheperiodwhentheRenewedSharePurchaseMandateisinforce.Ifandwhencircumstancespermit,theDirectorswilldecidewhethertoeffecttheSharepurchasesviaMarketPurchasesorOff-MarketPurchases,aftertaking intoaccount theamountofsurpluscashavailable, theprevailingmarketconditionsand themostcost-effectiveandefficientapproach.TheDirectorsdonotproposetocarryoutbuy-backstoanextentthatwould,orincircumstancesthatmight,resultinamaterialadverseeffectontheliquidityand/ortheorderlytradingoftheSharesand/orthefinancialpositionoftheCompanyanditssubsidiaries(“Group”).ShareholdersshouldalsonotethatpurchasesoracquisitionsofSharespursuanttotheproposedRenewedSharePurchaseMandatemaynotbecarriedouttothefulllimitasauthorised.

3. Authority and Limits of the Share Purchase Mandate

AnypurchaseoracquisitionofSharesbytheCompanyshallbemadeinaccordancewith,andinthemannerprescribedbytheCompaniesAct(Cap50)ofSingapore(“Act”),theCompaniesAct1981ofBermuda(“Bermuda Companies Act”), theCompany’sBye-lawsandtheListingManual(“Listing Manual”) of the Singapore Exchange Securities Trading Limited (“SGX-ST”), in particular, Rule883(1),andsuchotherlawsandregulationsasmayforthetimebeing,beapplicable.TheauthorityandlimitationsplacedonpurchasesoracquisitionsofSharesbytheCompanyundertheproposedRenewedSharePurchaseMandatearesummarisedbelow:

(a) Maximum Number of Shares

Onlyshareswhichareissuedandfullypaid-upmaybepurchasedoracquiredbytheCompany.

SubjecttotheBermudaCompaniesAct,thetotalnumberofShareswhichmaybepurchasedoracquiredby theCompanypursuant to theproposedRenewedSharePurchaseMandateshallnotexceedten per cent(10%)oftheissuedordinarysharecapitaloftheCompanyasatthedateofthepassingofResolution10setoutintheNoticeofAGM(“Maximum Limit”),wheretheissuedordinarysharecapitaloftheCompanyshallbetakentobetheamountoftheissuedordinarysharecapitaloftheCompanyasalteredbyareductionofitssharecapital(ifapplicable)(excludinganytreasurysharesthatmaybeheldbytheCompany,fromtimetotime).

Purely for illustrative purposes, on the basis of 2,101,985,108 Shares in issue (excluding45,558,000 treasury shares) as at 19 September 2011 (“Latest Practicable Date”) andassumingthatnofurtherSharesareissuedonorpriortotheAGM,notmorethan210,198,511Shares(representing10%oftheSharesinissueasatthatdate)maybepurchasedoracquiredbytheCompanypursuanttotheproposedRenewedSharePurchaseMandate.

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(b) Duration of Authority

TheauthorityconferredontheDirectorspursuanttotheproposedRenewedSharePurchaseMandate,unlessvariedorrevokedbytheCompanyinageneralmeeting,maybeexercisedby theDirectorsatany timeand from time to timeduring theperiodcommencing from theobtainingoftheproposedRenewedSharePurchaseMandateandexpiringontheearliestof:

(i) theconclusionofthenextAnnualGeneralMeetingoftheCompanyorthedatebywhichsuchAnnualGeneralMeetingisrequiredtobeheld;

(ii) thedateonwhich thepurchasesoracquisitionsofSharesby theCompanypursuantto theproposedRenewedSharePurchaseMandatearecarriedout to the fullextentmandated,or

(iii) thedateonwhich theauthoritycontained in theproposedRenewedSharePurchaseMandateisvariedorrevokedbyordinaryresolutionoftheCompanyinageneralmeeting.

TheproposedRenewedSharePurchaseMandatemayberenewedateachAnnualGeneralMeetingorothergeneralmeetingoftheCompany.

(c) Manner of Purchases or Acquisitions of Shares

PurchasesoracquisitionsofSharesmaybeeffectedbytheCompanybywayof:

(i) on-marketpurchases(“Market Purchases”),and/or

(ii) off-marketpurchases,otherwisethanonasecuritiesexchange,inaccordancewithan“equalaccessscheme”asdefinedinSection76CoftheAct(“Off-Market Purchases”).

MarketPurchasesrefertopurchasesoracquisitionsofSharesbytheCompanyeffectedontheSGX-ST, throughoneormoreduly licenseddealersappointedby theCompany for thepurpose.

InanOff-MarketPurchase,theDirectorsmayimposesuchtermsandconditionswhicharenotinconsistentwiththeproposedRenewedSharePurchaseMandate,theListingManual,theActandotherapplicablelawsandregulations,astheyconsiderfitintheinterestsoftheCompanyinconnectionwithor inrelationtoanyequalaccessschemeorschemes.Anequalaccessschememust,however,satisfythefollowingconditions:

(i) offersforthepurchaseoracquisitionofSharesshallbemadetoeverypersonwhoholdsSharestopurchaseoracquirethesamepercentageoftheirShares;

(ii) allofthosepersonsshallbegivenareasonableopportunitytoaccepttheoffersmade,and

(iii) thetermsofalltheoffersarethesameinrespectofallpersonsoffered,exceptthatthereshallbedisregarded:

(aa) differences in considerationattributable to the fact that theoffersmay relate toShareswithdifferentaccrueddividendentitlements;

(bb) (if applicable)differences in considerationattributable to the fact that theoffersrelatetoShareswithdifferentamountsremainingunpaid,and

(cc) differencesintheoffersintroducedsolelytoensurethateachpersonisleftwithawholenumberofSharesinboardlotsof1,000SharesaftertheSharePurchases,intheeventthereareOffereeShareholdersholdingoddnumbersofShares.

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Under the Listing Manual, if the Company wishes to make an Off-Market Purchase, theCompanywill issueanofferdocumentcontaining, inter alia, the following information toallShareholders:

(i) thetermsandconditionsoftheoffer;

(ii) theperiodandproceduresforacceptances,and

(iii) theinformationrequiredunderRule883(2),(3),(4)and(5)oftheListingManual.

(d) Maximum Purchase Price

Thepurchaseprice(excludingancillaryexpensessuchasbrokerage,commission,applicablegoodsandservicestax,stampduties,clearancefeesandotherrelatedexpenses)tobepaidfortheShareswillbedeterminedbytheDirectors.However,thepurchasepricetobepaidfortheSharesmustnotexceedthemaximumprice(“Maximum Price”)assetoutbelow:

(i) inthecaseofaMarketPurchase,105%oftheAverageClosingPriceoftheShares,and

(ii) inthecaseofanOff-MarketPurchase,110%oftheAverageClosingPriceoftheShares,

ineachcase,excludingrelatedexpensesofthepurchaseoracquisition.

Fortheabovepurposes:

“Average Closing Price”meanstheaverageoftheclosingmarketpricesofaShareoverthelastfive(5)MarketDaysonwhichtransactionsintheShareswererecordedontheSGX-STimmediatelyprecedingthedateoftheMarketPurchasebytheCompanyor,asthecasemaybe,thedateofthemakingoftheofferpursuanttotheOff-MarketPurchase,anddeemedtobeadjustedforanycorporateactionthatoccursaftertherelevantfive-dayperiod,and

“date of the making of the offer”means the date onwhich theCompany announces itsintentiontomakeanofferforthepurchaseoracquisitionofSharesfromholdersofShares,stating therein the relevant terms of the equal access scheme for effecting theOff-MarketPurchase.

4. Status of Purchased Shares

UndertheBermudaCompaniesAct,anySharewhichispurchasedoracquiredbytheCompanymayeitherbecancelledorbeheldbytheCompanyastreasuryshares,inaccordancewiththeBermudaCompaniesAct,onsuchtermsastheDirectorsthinkfair.

5. Treasury Shares Held by the Company

UnderthelawsofBermuda,acompanylimitedbyshares,orothercompanyhavingasharecapital,may, ifauthorisedtodosobyitsmemorandumorBye-laws,acquire itsownshares,tobeheldastreasuryshares,forcashoranyotherconsideration.

Acompanymaynotacquireitsownsharestobeheldastreasurysharesif,asaresultoftheacquisition,allofthecompany’sissuedshares,otherthanthesharestobeheldastreasuryshares,wouldbenon-votingshares.AnacquisitionbyacompanyofitsownsharestobeheldastreasurysharesmaybeauthorisedbyitsboardofdirectorsorotherwisebyorinaccordancewithitsBye-laws.Noacquisitionbyacompanyofitsownsharestobeheldastreasurysharesmaybeeffectedif,onthedateonwhichtheacquisitionistobeeffected,therearereasonablegroundsforbelievingthatthecompanyis,oraftertheacquisitionwouldbe,unabletopayitsliabilitiesastheybecomedue.

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Purchasesbyacompanyofitsownshares,whethertobeheldastreasurysharesortobecancelled,mayonlybeeffectedoutof thecapitalpaid-uponthepurchasedsharesoroutof thefundsof thecompanyotherwiseavailable fordividendordistributionoroutof theproceedsofa fresh issueofsharesmadeforthatpurpose.Anypremiumpayableonsuchapurchaseovertheparvalueoftheshares tobepurchasedmustbeprovided foroutof the fundsof thecompanyotherwiseavailablefordividendordistributionoroutof thecompany’s sharepremiumaccountbefore thesharesarepurchased.Anyamountduetoashareholderonapurchasebyacompanyofitsownsharesmay(i)bepaidincash;(ii)besatisfiedbythetransferofanypartoftheundertakingorpropertyofthecompanyhavingthesamevalue,or(iii)besatisfiedpartlyunder(i)andpartlyunder(ii).

Acompanythatacquiresitsownsharestobeheldastreasurysharesmay(a)holdalloranyoftheshares,(b)disposeofortransferalloranyofthesharesforcashorotherconsideration,or(c)cancelalloranyoftheshares.Ifsharesarecancelled,theamountofthecompany’sissuedsharecapitalshallbediminishedbythenominalvalueofthoseshares,butthecancellationofsharesshallnotbetakenasreducingtheamountofthecompany’sauthorisedsharecapital.

Under the lawsofBermuda, if a companyholdssharesas treasuryshares thecompanyshall beenteredintheregisterofmembersasthememberholdingthesharesbutthecompanyisnotpermittedtoexerciseanyrightsinrespectofthoseshares,includinganyrighttoattendandvoteatmeetings,andanypurportedexerciseofsucharightisvoid.Nodividendshallbepaidtothecompanyinrespectof shares held by the company as treasury shares, and no other distribution (whether in cash orotherwise)ofthecompany’sassets(includinganydistributionofassetstomembersonawindingup)shallbemadetothecompanyinrespectofsharesheldbythecompanyastreasuryshares.

UndertheListingManual,animmediateannouncementmustbemadeofanysale,transfer,cancellationand/or use of treasury shares. Such announcementmust include details such as the date of thesale, transfer, cancellationand/oruseofsuch treasuryshares, thepurposeofsuchsale, transfer,cancellationand/oruseofsuchtreasuryshares,thenumberoftreasuryshareswhichhavebeensold,transferred,cancelledand/orused,thenumberoftreasurysharesbeforeandaftersuchsale,transfer,cancellationand/oruse,thepercentageofthenumberoftreasurysharesagainstthetotalnumberofissuedshares(ofthesameclassasthetreasuryshares)whicharelistedontheSGX-STbeforeandaftersuchsale,transfer,cancellationand/oruse,andthevalueofthetreasurysharesiftheyareusedforasaleortransfer,orcancelled.

6. Source of Funds

Under theBermudaCompaniesAct, apurchaseofSharesmayonlybe fundedout of the capitalpaid-upontheSharestobepurchased,oroutofthefundsoftheCompanywhichwouldotherwisebeavailablefordividendordistribution,oroutoftheproceedsofafreshissueofSharesmadeforthepurposeofthepurchase,andthepremiumpayableonthepurchase(ie.theamountpaidinexcessofthenominalvalueoftheSharestobepurchased)mustbeprovidedforoutofthefundsoftheCompanywhichwouldotherwisebeavailablefordividendordistribution,oroutoftheCompany’ssharepremiumaccountbeforetheSharesarepurchased.ThefundsformakinganyproposedpurchaseshallbefromfundslegallyavailableforsuchpurposeinaccordancewiththeBye-lawsandthelawsofBermuda.However,nopurchasebytheCompanyofitsSharesmaybeeffected,if,onthedateonwhichthepurchaseistobeeffected,therearereasonablegroundsforbelievingthattheCompanyis,or,afterthepurchasewouldbeunabletopayitsliabilitiesastheybecomedue.

Ifthepurchasedsharesarecancelled,theCompany’stotalissuedsharecapitalwillbediminishedbythetotalamountoftheSharespurchasedbytheCompany.ThepurchasepricepaidbytheCompanyfortheShares(excludingbrokerage,stampduties,applicablegoodsandservicestaxandotherrelatedexpenses)willcorrespondinglyreducethefundsoftheCompanyotherwiseavailablefordividendordistributionand/ortheCompany’ssharepremiumaccount.

TheCompanyintendstouseitscashandbankbalancesorbankborrowingsoracombinationofbothtofinancepurchasesofitsShares.TheDirectorsdonotproposetoexercisetheproposedRenewedSharePurchaseMandatetosuchanextentaswouldhaveamaterialadverseeffectontheworkingcapitalrequirementsoftheCompanyorthegearinglevelswhich,intheopinionoftheDirectors,arefromtimetotimeappropriatefortheCompany.

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7. Financial Effects

ThefinancialeffectsofaSharepurchaseontheGroupandtheCompanywilldependon,inter alia,whethertheSharesarepurchasedoracquiredoutofprofitsand/orcapitaloftheCompany,thenumberofSharespurchasedoracquired,thepricepaidforsuchSharesandwhethertheSharespurchasedoracquiredareheldintreasuryorcancelled.ThefinancialeffectsontheauditedfinancialaccountsoftheGroupandtheCompanywilldepend,inter alia,onthefactorssetoutbelow.

(a) Purchase or Acquisition out of capital or profits

UndertheBermudaCompaniesAct,purchasesoracquisitionsofSharesbytheCompanymaybemadeoutofthefundsoftheCompanywhichwouldotherwisebeavailablefordividendordistributionoroutofthecapitalpaid-upontheSharestobepurchasedoracquiredoroutoftheproceedsofafreshissueofSharesmadeforthepurposeofthepurchaseoracquisitionandthepremiumpayableonthepurchase(ie.theamountpaidinexcessofthenominalvalueofthesharestobepurchased)mustbeprovidedforoutofthefundsoftheCompanywhichwouldotherwisebeavailable fordividendsordistributionoroutof theCompany’ssharepremiumaccountbeforethesharesarepurchased.WheretheconsiderationpaidbytheCompanyforthepurchaseoracquisitionofShares ismadeoutofprofits,suchconsideration (excludingbrokerage,commission,applicablegoodsandservicestaxandotherrelatedexpenses)willcorrespondingly reduce the amount available for the distribution of cash dividends by theCompany.WheretheconsiderationpaidbytheCompanyforthepurchaseoracquisitionofSharesismadeoutofcapitalpaiduponthoseshares,theamountavailableforthedistributionofcashdividendsbytheCompanywillnotbereduced.

(b) Maximum number of Shares that may be purchased as at the Latest Practicable Date

Basedon2,101,985,108issuedSharesasattheLatestPracticableDate,thepurchasebytheCompanyofuptothemaximumlimitof10%ofitsissuedShareswillresultinthepurchaseoracquisitionof210,198,511Shares.Notwithstanding,inordertocomplywiththeminimumpublicfloatrequirementoftheListingManual,theCompanywillpurchaseitssharesonlytotheextentthatitwillnotresultinlessthan10%ofitsissuedordinarysharecapitalbeingheldbypublicshareholders.Accordingly,theCompanymayonlypurchasesharesuptoamaximumof210,198,511Sharesor10%ofitsissuedandordinarysharecapitalpursuanttotheproposedSharePurchaseMandate,basedonthenumberofsharesinthehandsofthepublicasattheLatestPracticableDate.

(c) Maximum Price that may be paid for Shares purchased

Forillustrativepurposesonly,assumingtheCompanypurchasesthemaximum210,198,511Sharesor10%ofitsissuedandordinarysharecapitalattheMaximumPrice,themaximumamount of funds required (excluding relatedbrokerage, commission, applicable goodsandservicestax,stampduties,clearancefeesandotherrelatedexpenses)is:

(i) S$78,193,846inthecaseofMarketPurchasesofSharesforapproximately210,198,511SharesbasedonMaximumPriceofS$0.372foroneShare(beingthepriceequivalentto5%abovetheAverageClosingPriceoftheSharestradedontheSGX-STforthefiveconsecutiveMarketDaysimmediatelyprecedingtheLatestPracticableDate),and

(ii) S$81,767,221 in the case of Off-Market Purchases of Shares for approximately210,198,511SharesbasedonMaximumPriceofS$0.389foroneShare(beingthepriceequivalentto10%abovetheAverageClosingPriceoftheSharestradedontheSGX-STforthefiveconsecutiveMarketDaysimmediatelyprecedingtheLatestPracticableDate).

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(d) Illustrative Financial Effects

Forillustrativepurposesonly,onthebasisoftheassumptionssetoutabove,andassumingthatthepurchasesofSharesarefinancedsolelybyinternalresources,thefinancialeffectsofthepurchaseofSharesbytheCompanypursuanttotheproposedRenewedSharePurchaseMandateontheauditedfinancialstatementsoftheGroupandtheCompanyforthefinancialyearended30June2011asif theproposedRenewedSharePurchaseMandatehadbeeneffectiveon30June2011wouldhavebeenasfollows:

Purchases made out of capital (A) Purchases made entirely out of capital and cancelled, and (B) Purchases made entirely out

of capital and held as treasury shares.

Market Purchase Off-Market Purchase (B) (B) (A) Proforma (A) Proforma Proforma After Proforma After After Buyback After Buyback Audited Buyback andheldas Buyback andheldas Before and Treasury and Treasury(RM’000) Buyback Cancelled Shares Cancelled SharesCompany Shareholders’Funds 1,712,649 1,519,126 1,519,126 1,510,282 1,510,282NTA 1,712,649 1,519,126 1,519,126 1,510,282 1,510,282CurrentAssets 43,217 8,952 8,952 8,952 8,952CurrentLiabilities 20,612 179,870 179,870 188,714 188,714CashandCashEquivalents 34,265 - - - -TotalBorrowings - 159,258 159,258 168,102 168,102 NumberofSharesincluding 2,147,543 1,937,344 2,147,543 1,937,344 2,147,543TreasuryShares(’000)

TreasuryShares(‘000) 45,558 45,558 255,757 45,558 255,757 Financial Ratios NTAperShare(sen) 81.48 80.30 80.30 79.83 79.83CurrentRatio(times) 2.10 0.050 0.050 0.047 0.047Gearingratio(times) - 0.10 0.10 0.11 0.11 Group Shareholders’Funds 212,997 19,474 19,47410,63010,630NTA 186,071 (7,452) (7,452) (16,296) (16,296)NetProfit 115,268 115,268 115,268 115,268 115,268CurrentAssets 210,004 137,820 137,820 137,820 137,820CurrentLiabilities 100,680 222,019 222,019 230,863 230,863CashandCashEquivalents 72,184 - - - -TotalBorrowings 3,947 125,286 125,286 134,130 134,130 Financial Ratios NTAperShare(sen) 8.85 (0.39) (0.39) (0.86) (0.86)BasicEPS(sen) 5.50 6.11 6.11 6.11 6.11

ROE(%) 54% 592% 592% 1084% 1084%CurrentRatio(times) 2.09 0.62 0.62 0.60 0.60Gearingratio(times) 0.02 6.43 6.43 12.62 12.62

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Purchases made out of profits (C) Purchases made entirely out of profits and cancelled, and (D) Purchases made entirely out

of profits and held as treasury shares.

Market Purchase Off-Market Purchase (D) (D) (C) Proforma (C) Proforma Proforma After Proforma After After Buyback After Buyback Audited Buyback andheldas Buyback andheldas Before and Treasury and Treasury(RM’000) Buyback Cancelled Shares Cancelled SharesCompany Shareholders’Funds 1,712,649 1,519,126 1,519,126 1,510,282 1,510,282NTA 1,712,649 1,519,126 1,519,126 1,510,282 1,510,282CurrentAssets 43,217 8,952 8,952 8,952 8,952CurrentLiabilities 20,612 179,870 179,870 188,714 188,714CashandCashEquivalents 34,265 - - - -TotalBorrowings - 159,258 159,258 168,102 168,102 NumberofSharesincluding 2,147,543 1,937,344 2,147,543 1,937,344 2,147,543TreasuryShares(’000)

TreasuryShares(‘000) 45,558 45,558 255,757 45,558 255,757 Financial Ratios NTAperShare(sen) 81.48 80.30 80.30 79.83 79.83CurrentRatio(times) 2.10 0.050 0.050 0.047 0.047Gearingratio(times) - 0.10 0.10 0.11 0.11 Group Shareholders’Funds 212,997 19,474 19,47410,63010,630NTA 186,071 (7,452) (7,452) (16,296) (16,296)NetProfit 115,268 115,268 115,268 115,268 115,268CurrentAssets 210,004 137,820 137,820 137,820 137,820CurrentLiabilities 100,680 222,019 222,019 230,863 230,863CashandCashEquivalents 72,184 - - - -TotalBorrowings 3,947 125,286 125,286 134,130 134,130 Financial Ratios NTAperShare(sen) 8.85 (0.39) (0.39) (0.86) (0.86)BasicEPS(sen) 5.50 6.11 6.11 6.11 6.11

ROE(%) 54% 592% 592% 1084% 1084%CurrentRatio(times) 2.09 0.62 0.62 0.60 0.60Gearingratio(times) 0.02 6.43 6.43 12.62 12.62Notes:

(1) NTApershareiscalculatedbytheNTAdividedbythenumberofsharesexcludingTreasurySharesasat30June2011.

(2) BasicEPSiscalculatedbytheprofitattributabletoshareholdersdividedbytheweightedaveragenumberofsharesexcludingTreasuryShares.

(3) Currentratioisderivedbasedoncurrentassetsdividedbycurrentliabilities.

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Shareholders should note that the financial effects set out above are for illustrative purposes only (based on the aforementioned assumptions). The actual impact will depend on, inter alia, the number and price of the Shares purchased or acquired (if any). In particular, Shareholders should note that the above analysis is based on the audited financial statements of the Company for the financial year ended 30 June 2011 and is not necessarily representative of future financial performance.

The Companymay take into account both financial and non-financial factors (for example, stockmarketconditionsand theperformanceof theShares) inassessing the relative impactofasharepurchasebeforeexecution.

8. Requirements in the Listing Manual

(a) TheListingManualspecifiesthatalistedcompanyshallreportallpurchasesoracquisitionsofitssharestotheSGX-STnotlaterthan9.00am(i)inthecaseofaMarketPurchase,ontheMarketDayfollowingthedayonwhichtheMarketPurchasewaseffected,and(ii)inthecaseofanOff-MarketPurchase,onthesecondMarketDayafterthecloseofacceptancesoftheoffer.ThenotificationofsuchpurchasesoracquisitionstotheSGX-STshallbeinsuchform,andshallincludesuchdetails,asmaybeprescribedbytheSGX-STintheListingManual.

(b) TheListingManualdoesnotexpresslyprohibitanypurchaseofsharesbyalistedcompanyduringanyparticulartime(s).However,astheCompanywouldberegardedasan“insider”inrelationtoanyproposedpurchaseoracquisitionofitsshares,theCompanywillnotundertakeanypurchaseoracquisitionofSharespursuanttotheSharePurchaseMandateinthefollowingcircumstances:

(i) atanytimeafteranymatterordevelopmentofaprice-sensitivenaturehasoccurredorhasbeenthesubjectofadecisionoftheBoarduntiltheprice-sensitiveinformationhasbeenpubliclyannounced,and

(ii) inparticular,inlinewiththeSGX-ST’sbestpracticesguideonsecuritiesdealings,theCompanywouldnotpurchaseoracquireanySharesthroughMarketPurchasesduringtheperiodofonemonthimmediatelyprecedingtheannouncementoftheCompany’sfull-yearresultsandtheperiodoftwoweeksbeforetheannouncementofthefirstquarter,secondquarterandthirdquarterresults.

(c) The Listing Manual requires a company to ensure that at least 10% of equity securities(excludingpreferencesharesandconvertibleequitysecurities)inaclassthatislistedareheldbypublicshareholders.The“public”,asdefinedundertheListingManual,arepersonsotherthanthedirectors,chiefexecutiveofficer,substantialshareholdersorcontrollingshareholdersoftheCompanyanditssubsidiarycompanies,aswellastheassociatesofsuchpersons.

As at the Latest Practicable Date, there are approximately 479,728,184 Shares in the hands of the public, representing approximately 22.82% of the issued ordinary share capital excluding treasury shares of the Company. To comply with the minimum public float requirement of the Listing Manual, the Company will purchase its shares only to the extent that it will not result in less than 10% of its issued ordinary share capital being held by public shareholders. Accordingly, the Company may purchase shares up to a maximum of 210,198,511 Shares, ie. 10% of its issued and ordinary share capital pursuant to the Share Purchase Mandate, based on the number of shares in the hands of the public as at the Latest Practicable Date.

9. Take-over Implications

Appendix2(“Appendix 2”)oftheSingaporeCodeonTake-oversandMergers(“Take-over Code”)containstheShareBuyBackGuidanceNote.Thetake-overimplicationsarisingfromanypurchasebytheCompanyofitsSharesaresetoutbelow:

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(a) Obligation to Make a Take-over Offer

AnyresultantincreaseinthepercentageofvotingrightsheldbyaShareholderandpersonsactinginconcertwithhim,followinganypurchaseoracquisitionofSharesbytheCompany,willbetreatedasanacquisitionforthepurposesofRule14oftheTake-overCode(“Rule 14”).Consequently,dependingonthenumberofSharespurchasedoracquiredbytheCompanyandtheCompany’sissuedsharecapitalatthattime,aShareholderorgroupofShareholdersactinginconcertwitheachothercouldobtainorconsolidateeffectivecontroloftheCompanyandcouldbecomeobligedtomakeatake-overofferunderRule14.

(b) Persons Acting in Concert

UndertheTake-overCode,personsactinginconcertcompriseindividualsorcompanieswho,pursuanttoanagreementorunderstanding(whetherformalorinformal),co-operate,throughtheacquisitionbyanyofthemofsharesinacompanytoobtainorconsolidateeffectivecontrolofthatcompany.

Unless thecontrary isestablished, the followingpersons, inter alia,willbepresumed tobeacting in concert, namely, (i) a companywith anyof its directors (togetherwith their closerelatives, related trustsaswellascompaniescontrolledbyanyof thedirectors, theircloserelativesandrelatedtrusts),and(ii)acompany,itsparent,subsidiariesandfellowsubsidiaries,and their associated companies and companies of which such companies are associatedcompanies,allwitheachother.For thispurpose,acompany isanassociatedcompanyofanothercompanyifthesecondcompanyownsorcontrolsatleasttwentypercent.(20%)butnotmorethanfiftypercent.(50%)ofthevotingrightsofthefirst-mentionedcompany.

The circumstances under which Shareholders (including Directors) and persons acting inconcertwiththemrespectivelywillincuranobligationtomakeatake-overofferunderRule14afterapurchaseoracquisitionofSharesbytheCompanyaresetoutinRule14andAppendix2.

(c) Effect of Rule 14 and Appendix 2

Ingeneralterms,theeffectofRule14andAppendix2isthat,unlessexempted,Directorsandpersonsactinginconcertwiththemwillincuranobligationtomakeatake-overofferfortheCompanyunderRule14if,asaresultoftheCompanypurchasingoracquiringShares,thevotingrightsofsuchDirectorsandtheirconcertpartieswouldincreasetothirtypercent.(30%)ormore,or,ifthevotingrightsofsuchDirectorsandtheirconcertpartiesfallbetweenthirtypercent.(30%)andfiftypercent.(50%)oftheCompany’svotingrights,thevotingrightsofsuchDirectorsandtheirconcertpartieswouldincreasebymorethanonepercent.(1%)inanyperiodofsix(6)months.

UnderAppendix2,aShareholdernotactinginconcertwiththeDirectorswillnotberequiredtomakeatake-overofferunderRule14if,asaresultoftheCompanypurchasingoracquiringitsShares,thevotingrightsofsuchShareholderwouldincreasetothirtypercent.(30%)ormore,or, ifsuchShareholderholdsbetweenthirtypercent.(30%)andfiftypercent.(50%)oftheCompany’svotingrights,thevotingrightsofsuchShareholderwouldincreasebymorethanonepercent.(1%)inanyperiodofsix(6)months.SuchShareholderneednotabstainfromvoting inrespectof theresolutionauthorisingtheproposedRenewedSharePurchaseMandate.

Shareholders who are in any doubt as to whether they would incur any obligations to make a take-over offer as a result of any purchase of Shares by the Company pursuant to the proposed Renewed Share Purchase Mandate are advised to consult their professional advisers before they acquire any Shares in the Company during the period when the proposed Renewed Share Purchase Mandate is in force.

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The statements herein do not purport to be a comprehensive or exhaustive description of all implications that may arise under the Take-over Code. Shareholders are advised to consult their professional advisers and/or the Securities Industry Council and/or other relevant authorities at the earliest opportunity as to whether an obligation to make a take-over offer would arise by reason of any purchase or acquisition of Shares by the Company.

10. Tax Implications

Shareholders who are in doubt as to their respective tax positions or the tax implications of Share purchases by the Company, or who may be subject to tax in or outside Singapore, should consult their own professional advisers.

11. Shares Purchased by the Company

TheCompanyhadnotmadeanymarketacquisitionsofordinarysharesintheprevious12monthswhichwereheldastreasuryshares.

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II. PROPOSED RENEWAL OF INTERESTED PERSONS TRANSACTIONS (“IPT”) GENERAL MANDATE

12. Background

The Company anticipates that the Group would, in the ordinary course of business, enter intotransactionswithpersonswhichareconsidered‘InterestedPersons’asdefinedinChapter9oftheListingManual.Itislikelythatsuchtransactionswilloccurwithsomedegreeoffrequencyandcouldariseatanytimeandfromtimetotime.

Chapter 9 of the Listing Manual permits a listed company to seek a general mandate from itsshareholdersforrecurrenttransactionsofarevenueortradingnatureorthosenecessaryforitsday-to-dayoperationssuchasthepurchaseandsaleofsuppliesandmaterials(butnotinrespectofthepurchaseorsaleofassets,undertakingsorbusinesses)thatmaybecarriedoutwiththeInterestedPersons.

Shareholdershadapprovedageneralmandate(“2008 IPT Mandate”)attheSpecialGeneralMeetingoftheCompanyheldon24October2008(“SGM”)toenabletheGroupanditsassociatedcompaniesoranyofthemtoenterintoanyoftherecurrenttransactionsfallingwithinthetypesofIPTssetoutintheCompany’sCirculartoShareholdersdated2October2008(“Circular”),withanypartywhoisoftheclassesofInterestedPersonsdescribedintheCircular(“Interested Persons”),providedthatsuchIPTsarecarriedoutonnormalcommercialtermsandinaccordancewiththereviewproceduresforRecurrentTransactions(asdefinedbelow)setoutintheCircular,forthepurposesofChapter9oftheListingManual.The2008IPTMandatewasrenewedbyShareholdersattheAnnualGeneralMeetingoftheCompanyin2009andagainattheAnnualGeneralMeetingoftheCompanyin2010(“2010 IPT Mandate”).The2010IPTMandatewillexpireontheforthcomingAGMunlessrenewedbytheShareholders.

Accordingly, the Directors propose to seek the approval of Shareholders for the renewal of the2010IPTMandate(“Renewed IPT General Mandate”),totakeeffectandcontinueinforceuntiltheconclusionofthenextAnnualGeneralMeetingoftheCompanyin2012.TheproposedRenewedIPTGeneralMandateissetoutinResolution 11.ThepurposeofthisletteristoprovideShareholderswithinformationrelatingtotheproposedRenewedIPTGeneralMandate.

ThescopeandkeytermsandconditionsoftheMLAandMSA(asdefinedinparagraph13below),themethodsandproceduresfordeterminingtransactionpricesandthereviewandapprovalproceduresinrelationtoIPTs,aswellasthereviewstobemadeperiodicallybytheAuditCommitteeinrelationthereto,havenotchangedfromthatdescribedintheCircularandasapprovedbyShareholdersunderthe2008IPTMandateattheSGMandrenewedbyShareholdersunderthe2010IPTMandate.

13. Rationale for the Renewed IPT General Mandate and benefits to Shareholders

It isenvisaged that theGroupmay fromtime to time, in theordinarycourseofbusiness,continuetoengage in recurrent transactionsofa revenueor tradingnaturewith the InterestedPersonsasdescribed in theCircular(“Recurrent Transactions”).SuchRecurrentTransactionswould include,butarenotlimitedtotransactionspursuanttotheMasterLicenceAgreement(“MLA”asdefinedintheCircular)andtheMasterServicesAgreement(“MSA”asdefinedintheCircular),thegrantoflicensesof theGroup’ssoftware, resaleof IBMSystem iProducts (asdefined in theCircular),provisionofServices(asdefinedintheCircular)to,andreceiptofServicesfrom,theInterestedPersons.

TheDirectorsareoftheviewthatitwillbebeneficialtotheGrouptotransactorcontinuetotransactwiththeInterestedPersons,especiallysincethetransactionsaretobeenteredintoonnormalcommercialterms.

Duetothetime-sensitivenatureofcommercialtransactions,theobtainingoftheRenewedIPTGeneralMandatepursuanttoChapter9oftheListingManualwillenabletheGrouptoenterintothecategoriesofIPTswiththespecifiedclassesofInterestedPersons,providedthatsuchtransactionsareenteredintointheGroup’sordinarycourseofbusinessonnormalcommercialtermsandarenotprejudicialtotheinterestsoftheCompanyanditsminorityShareholders.

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TheRenewedIPTGeneralMandatewillenhancetheGroup’sabilitytopursuebusinessopportunityandwill eliminate theneed for theCompany toannounce,or toannounceandconveneseparategeneral meetings on each occasion to seek Shareholders’ prior approval for entering into suchtransactions. This will substantially reduce administrative time and expenses associated with themakingofsuchannouncementsortheconveningofgeneralmeetingsfromtimetotime,andallowmanpowerresourcestobefocusedtowardsothercorporateandbusinessopportunities.

14. Disclosures

InaccordancewithChapter9oftheListingManual,theCompanywilldiscloseinitsannualreport,theaggregatevalueof the IPTsconductedpursuant to theRenewed IPTGeneralMandateduringthefinancialyear.InadditiontheCompanywillannouncetheaggregatevalueoftheIPTsconductedpursuanttotheRenewedIPTGeneralMandateforthefinancialperiodswhichitisrequiredtoreportonwithinthetimerequiredfortheannouncementofsuchreport.ThesedisclosureswillbeinformsetoutinRule907oftheListingManual.

TheaggregatevalueoftheIPTsconductedduringthecurrentfinancialyearended30June2011by

theGroupwereasfollows:

Aggregate value of all IPTs during the financial year Aggregate value of all IPTs ended 30 June 2011 conducted under (excluding IPTs less than shareholders’ mandate Interested Person(s) S$100,000 and transactions pursuant to Rule 920 conducted under (excluding IPTs less than shareholders’ mandate S$100,000) pursuant to Rule 920) RM RM

CompaniesassociatedtoMrGohPengOoi(“Silverlake Entities”)

-OldMandates(1) -RevenuefromSilverlakeEntities - 268,968

-NewMandates(2) -RevenuefromSilverlakeEntities - 3,193,423 -ServicefeestoSilverlakeEntities - 25,076,445

-AncillaryTransactions(3) -RevenuefromSilverlakeEntities - 23,080,818 -ServicefeestoSilverlakeEntities - 22,037,021

- Non-Mandate(4) -RevenuefromSilverlakeEntities 420,398 -

Notes:

(1) Old Mandates refer to Master Licence Reseller Agreement (“MLRA”), Master Services Agreement(“MSA”) andMasterResellerAgreement (“MRA”) Shareholders’Mandates for IPTs approved by theshareholderson31October2007.

(2) NewMandates refers toMaster LicenceAgreement (“MLA”) andMasterServicesAgreement (“New MSA”)Shareholders’MandatesforIPTsapprovedbytheshareholderson24October2008.

(3) TheAncillaryTransactionswereapprovedbytheShareholdersoftheCompanyatitsSpecialGeneralMeetingheldon28January2010.UndertheRestructuringArrangements,pendingthenovationand/orassignmentofSSBContractstotheSilverlakeSolutionsLimitedanditssubsidiaries(“SSB Group”),SilverlakeEntitiesandSilverlakeInnovationPartnersSdnBhdand itssubsidiaries(“SIP Group”)arerequiredtoholdallmoniesandbenefitsarisingundertheapplicableSSBContractsasabaretrusteefortheSSBGroupandtoremitsuchmoniesandbenefitstotheSSBGroupinaccordancewiththetermsoftheRestructuringArrangements.

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(4) TheNon-MandaterevenuewasrevenuefromtheAnnualMaintenanceAgreementbetweenQRGroupandSilverlakeEntities,whichwassignedbeforetheacquisitionoftheQRGroupandiseffectiveuntil30June2012.

15. Directors and Substantial Shareholders’ Interests

As at the Latest Practicable Date, the interests of Directors and Substantial Shareholders of theCompanyintheShares,basedontheCompany’sRegisterofDirectors’ShareholdingsandRegisterofSubstantialShareholdersrespectivelyareasfollows:

Direct Interest Indirect/ Deemed Total Interest Interest Directors/Substantial Number of Number of Number of % (1) Shareholders Shares Shares Shares

Directors:

GohPengOoi - 1,570,236,346 1,570,236,346 74.70 DrKwongYongSin 6,810,000 300,000 7,110,000 0.338 DatukSulaimanBinDaud - - - - OngKianMin - - - - TanSriDato’DrLinSee-Yan - - - - LimKokMin - - - -

Substantial Shareholders:

IntelligentsiaHoldingLtd 1,570,236,346 - 1,570,236,346 74.70 GohPengOoi - 1,570,236,346 1,570,236,346 74.70

Note:

(1) Basedonan issuedsharecapitalof2,101,985,108,excluding45,558,000 treasuryshares,asat theLatestPracticableDate.

In connectionwith theproposedRenewedSharePurchaseMandate, asat theLatestPracticableDate,noneofourDirectorsorSubstantialShareholderswillbeobligedtomakeamandatorytake-overofferintheeventthattheCompanypurchasedthemaximum10%oftheissuedSharesundertheproposedRenewedSharePurchaseMandate.

InconnectionwiththeproposedRenewedIPTGeneralMandate,MrGohPengOoiisdeemedtobeinterestedintheRenewedIPTGeneralMandate.MrGohPengOoiandhisAssociateswillabstainfromvotinginrespectofResolution11toadopttheRenewedIPTGeneralMandateattheAGM,whetherinpersonorbyrepresentativeorproxy,inrespectoftheirshareholdinginterestsintheCompany.Inaddition,MrGohPengOoihasundertakentoensurethathisAssociateswillabstainfromsuchvotinginrespectoftheirshareholdinginterestsintheCompanyattheAGM.

16. Audit Committee’s Statement

TheCompany’sAuditCommittee(“Audit Committee”)confirmsthat thescopeandkeytermsandconditionsoftheMLAandMSA,themethodsandproceduresfordeterminingtransactionpricesandthereviewandapprovalproceduresinrelationtoIPTs,aswellasthereviewstobemadeperiodicallybytheAuditCommitteeinrelationthereto,havenotbeenchangedsincetheShareholder’sapprovalofthe2008IPTMandateattheSGMandthatsuchmethodsorproceduresaresufficienttoensurethattheIPTswillbecarriedoutonnormalcommercialtermsandwillnotbeprejudicialtotheinterestsoftheCompanyanditsminorityShareholders.

If,during theperiodicreviewsby theAuditCommittee, it isof theviewthat theestablishedreviewproceduresarenolongerappropriateoradequatetoensurethatanyoftheIPTswillbetransactedonnormalcommercialtermsandwillnotbeprejudicialtotheinterestsoftheCompanyanditsminorityShareholders, the Company will seek a fresh mandate from Shareholders based on new reviewprocedures.

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17. Directors’ Recommendations

ProposedRenewedSharePurchaseMandate

TheDirectorsareoftheopinionthattheproposedRenewedSharePurchaseMandateisinthebestinterestsoftheCompanyandaccordinglyrecommendthatShareholdersvoteinfavourofResolution10relatingtotheRenewedSharePurchaseMandate,tobeproposedattheAGM.

ProposedRenewedIPTGeneralMandate

TheDirectorswhoareconsideredindependentforthepurposesoftheproposedRenewedIPTGeneralMandateareDrKwongYongSin,MrOngKianMin,TanSriDato’DrLinSee-YanandMrLimKokMin.Theyhaveconsideredandreviewed,inter alia,thereviewandapprovalproceduresinrelationtotheIPTsandtheRecurrentTransactionsandtherationaleandthebenefitsoftheproposedRenewedIPTGeneralMandatesetoutinAppendixAandtheconfirmationoftheAuditCommitteeabove,andareoftheopinionthattheproposedRenewedIPTGeneralMandateisinthebestinterestsoftheCompany.Accordingly, theyrecommendthat theShareholdersvote in favourofResolution11,relatingtotheRenewedIPTGeneralMandate,tobeproposedattheAGM.

18. Directors’ Responsibility Statement

TheDirectorscollectivelyandindividuallyacceptfullresponsibilityfortheaccuracyoftheinformationgiveninthisLetterandconfirmaftermakingallreasonableenquiriesthat,tothebestoftheirknowledgeandbelief,thisLetterconstitutesfullandtruedisclosureofallmaterialfactsabouttheRenewedSharePurchaseMandateandRenewedIPTGeneralMandate,theCompanyanditssubsidiaries,andtheDirectorsarenotawareofanyfactstheomissionofwhichwouldmakeanystatementinthisLettermisleading.WhereinformationintheLetterhasbeenextractedfrompublishedorotherwisepubliclyavailablesourcesorobtainedfromanamedsource,thesoleresponsibilityoftheDirectorshasbeentoensurethatsuchinformationhasbeenaccuratelyandcorrectlyextractedfromthosesourcesand/orreproducedintheLetterinitsproperformandcontext.

19. Disclaimer

TheSGX-STtakesnoresponsibilityfortheaccuracyofanyofthestatementsoropinionsmadeorreportscontainedinthisletter.

20. Documents for Inspection

The following documentsmay be inspected at the office of the Singapore ShareTransferAgent,BoardroomCorporate &Advisory Services Pte. Ltd. at 50Raffles Place, #32-01 Singapore LandTower,Singapore048623duringnormalbusinesshoursfromthedatehereofuptoandincludingthedateoftheAGM:

(a) theMemorandumofAssociationandBye-lawsoftheCompany,

(b) theAnnualReportoftheCompanyforthefinancialyearended30June2011,and

(c) theCircular,MLAandMSA.

Yoursfaithfully,ForandonbehalfofTheBoardofDirectors

Kwong Yong SinManaging Director

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APPENDIX A

THE PROPOSED RENEWED IPT GENERAL MANDATE

1. BACKGROUND AND PARTICULARS OF IPTs

1.1 TheGroupengagesintransactionsinvolvingthefollowingproductsandservices,inthenormalcourseofbusiness,withtheInterestedPersons:

(a) GrantoflicencesoftheSoftwareundertheMLA

WithinthiscategoryaretransactionsbetweentheGroupandtheInterestedPersonswheretheGroupgrants,andtheInterestedPersonsacceptrightsto:

(i) resell,implement,copy,customiseand/orusetheSoftware,and/or

(ii) sub-licencetherighttousetheSoftwaretoEnd-Users

inaccordancewiththetermsandconditionsoftheMLA.

ThelicenceshallcompriseeitheraNon-EnterpriseLicenceoranEnterpriseLicence.TheRenewedIPTGeneralMandateappliestothegrantofbothNon-EnterpriseLicenceandEnterpriseLicencebytheGrouptotheInterestedPersons.

Under theMLA, theGroup is required to provide the InterestedPersonswith suchassistance as is reasonably necessary to assist the Interested Persons with themarketingandpromotionoftheSoftware.SuchassistanceformspartoftheGroup’snormal reselling arrangement, which is provided to both Interested Persons andunrelatedthirdparties.

(b) ResaleofIBMSystemiProductsundertheMSA

ThiscategorycoverstheresaleofIBMSystemiProductsinMalaysiabytheGrouptotheInterestedPersons.TheRenewedIPTGeneralMandateappliestotheresaleofIBMSystemiProductstotheInterestedPersons.

(c) ProvisionofServicesundertheMSA

TheRenewed IPTGeneralMandateapplies to the following transactionsunder thiscategory:

(i) the provision ofCustomisation, Implementation andMaintenance services bytheGroup to the InterestedPersons in connectionwith theGroup’s softwareproducts,and

(ii) thereceiptofCustomisation,ImplementationandMaintenanceservicesbytheGroup from the Interested Persons in connection with the Group’s softwareproducts.

1.2 TheDirectors are seekingapproval from theShareholders for theproposedRenewed IPTGeneralMandatefortheGrouptoenterintothecategoriesoftransactionslistedinparagraph1.1abovewiththeInterestedPersons,providedthatsuchtransactionsaremadeonnormalcommercial terms and are not prejudicial to the interest of the Company and its minorityShareholders.

1.3 TheCompanyexpectsthefrequencyofsuchtransactions,whichareintheGroup’sordinarycourseofbusiness,toincreaseandtofacilitatethegrowthofthislineofbusiness,areseekingShareholders’approvalforthiscategoryoftransaction.

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2. SCOPE OF RENEWED IPT GENERAL MANDATE

2.1 TheRenewedIPTGeneralMandatewillcoverIPTsassetoutinparagraph1.1above.

2.2 TheRenewedIPTGeneralMandatewillnotcoveranytransactionsbetweentheGroupandtheInterestedPersonswhichhaveavaluebelowS$100,000(representingtotalvalueofeachentiretransactionwiththeInterestedPersonsand/orthesameend-client),asthethresholdandaggregation requirementsunderChapter9of theListingManualdonotapply tosuchtransactions.

2.3 Transactionswith the InterestedPersons that do not fall within the ambit of theRenewed

IPTGeneralMandatewillbesubject to theprovisionsofChapter9and/orotherapplicableprovisionsoftheListingManual.

3. CLASSES OF INTERESTED PERSONS

3.1 TheRenewedIPTGeneralMandateshallapply to the IPTs(asdescribed inparagraph1.1above)whicharecarriedoutwiththefollowingclassesofInterestedPersons:

(a) MrGohPengOoi,and/or

(b) AllsuchentitieswhichmayfromtimetotimedeemedtobeanAssociateofMrGohPengOoi.

3.2 MrGohPengOoiowns100%ofIntelligentsiaHoldingLtd(“IHL”),whichinturnholds74.70%directinterestintheCompany.MrGohPengOoithusholdsadeemedinterestof74.70%intheCompanythroughIHL.

3.3 TransactionswithInterestedPersonswhicharenotlistedinparagraphs1.1and3.1aboveandwhichdonotfallwithintheambitoftheRenewedIPTGeneralMandateshallbesubjecttotherelevantprovisionsofChapter9oftheListingManual.

4. SALIENT TERMS OF THE IPTs

METHODS OR PROCEDURES FOR DETERMINING TRANSACTION PRICES

4.1 TheCompanyandMrGohPengOoihaveundertakenundertheMLAandMSAtoprocurethat:

(a) all the categories of IPTs under grant of licences of the Software as described inparagraph1.1abovewhichareentered intobetween theGroupand the InterestedPersonsonoraftertheeffectivedateoftheMLAshallbegovernedbythetermsandconditionsassetout intheMLAandshallatall timesbeeffectedontermsthatareconsistentwithandwhichareexpresslystatedtobesubjecttothetermsandconditionsoftheMLA,and

(b) all the categories of IPTs under provision of Services and resale of IBM System iProducts as described in paragraph1.1 abovewhichare entered into between theGroupandtheInterestedPersonsonoraftertheeffectivedateoftheMSAshallbegovernedbythetermsandconditionsassetoutintheMSAandshallatalltimesbeeffectedontermsthatareconsistentwithandwhichareexpresslystatedtobesubjecttothetermsandconditionsoftheMSA.

Pricing model for licensing of Software under the MLA

4.2 InconsiderationofthegrantofalicenceoftheGroup’ssoftwaretoanInterestedPersonundertheMLA,theGroupshallchargetheInterestedPersons,a licencefee,determinedusingapricingmodel(“Pricing Model”).

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4.3 ThePricingModelisapointbasedsystemwherethelicencefeeisdeterminedbyreferenceto:

(a) Atableofpointsallocatedtoeachsoftwaremodule,featureandcomponent(“Points Allocation Table”)

ThePointsAllocationTablecomprisesthecompletelistofsoftwaremodules,featuresandcomponents,withpointsallocatedtoeachsoftwaremodule,featureandcomponentoftheSoftware(“Allocated Points”).TheAllocatedPointsaredeterminedbasedonadesignatedformula.

(b) Atableoflicencefeebands(“Licence Fee Bands Table”)

TheLicenceFeeBandsTablecomprises7 licence feebandswhichare linked to2pricingdimensions:(i)numberofCustomers,and(ii)numberofBranchesoftheEnd-UseroftheSoftware(“Pricing Dimensions”),and1licencefeebandforEnterpriseLicensing. Each licence fee band in the Licence Fee Bands Table represents 100AllocatedPoints.

4.4 Thelicencefeecalculationmethodisasfollows:

LicenceFee=X xY 100AllocatedPoints Where:

X= thesumofAllocatedPointsofeachofthemodules,featuresorcomponentslicensedtothelicencee(“Aggregate Allocated Points”).

Y= thebaselicencefeefor100AllocatedPoints(“Base Licence Fee”)(seeparagraphs

4.5and4.6belowforfurtherdetails).

4.5 InrespectofNon-EnterpriseLicensingoftheSoftware,themanagementoftheCompanyshalldeterminetheBaseLicenceFeebymakingreferencetotheapplicablelicencefeebandforboththepricingdimensions.TheBaseLicenceFeeshallbethehigherofthetwo(2)licencefeesdeterminedusingboththepricingdimensions.

4.6 InrespectofEnterpriseLicensingoftheGroup’ssoftware,themanagementoftheCompanyshallsubmit itsrecommendationtotheAuditCommitteeastotheBaseLicenceFeeof theEnterprise Licensing (“Base Enterprise Licence Fee”) for approval. The Base EnterpriseLicenceFeeshallbenolessthanUS$20millionandshall,inanycase,besupportedbyanindependentvaluationreportandbesubjecttothepriorapprovaloftheAuditCommittee.TheminimumBaseEnterpriseLicenceFeeofUS$20millionisdeterminedbasedonManagement’sviewofcurrentmarketconditions.

4.7 ThePricingModelshallbemadereadilyavailableforreferencebytherelevantoperationalstaffand/orexecutivestogovernpricingoftheSoftwareforbothInterestedPersonsandunrelatedthirdparty.

Pricing for resale of IBM System i Products under the MSA

4.8 TheprofitmarginchargedbytheGrouptotheInterestedPersonshallnotbe lessthantheprofitmarginchargedbytheGrouptounrelatedpartiesforsimilarproduct.

4.9 TheprofitmargintobechargedbytheGrouptotheInterestedPersonshallbecalculatedbytheCompanywithreferencetotheaverageprofitmarginderivedbytheGroupfromsalesofIBMSystemiProductstounrelatedthirdpartiesinthelastcompletedfinancialyearfromtimetotime.TheprofitmarginchargedbytheGrouptotheInterestedPersonshallbedisclosedaspartofthequarterlyIPTsreporttotheAuditCommittee.

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4.10 TheprofitmarginearnedonresaleofIBMSystemiProductsvariesforeachtransactionashardwaresalesandpricingareinfluencedbyfactorssuchasmarketconditionandcompetitivebidsituations.Assuch,ManagementisoftheviewthatanaverageoftheprofitmarginsearnedfromsalesoftheIBMSystemiProductstounrelatedthirdpartieswouldreflectafairmargin.TheprofitmarginineachcaseshalltakeintoaccountthecostpaidtoIBMplusanyexpensesincurredbytheGroupinconnectionwiththesale(s),includingbutnotlimitedtotheshipment,deliveryand/orinstallationoftherelevantproducts.

Pricing for provision of Services under the MSA

4.11 Thepricing forprovisionofsoftware ImplementationandCustomisationservicesunder theMSA shall be based on a list ofman-day rates (“Man-day Rates”). Such services can becategorizedintothefollowing:

(a) Withpredefinedscopeandstatementofwork

Provision of software Implementation and Customisation services with a clearpredefinedscopeandstatementofworkarechargedona“fixedprice”basis,arrivedatbyapplyingtheMan-dayRatestotheestimatedman-daysrequiredtocompletethework,and

(b) Withoutpredefinedscope

Wherethescopeisnotdefinedorisinsufficientlydefinedtoenabletheestimationofman-daysrequiredtocompletetheworksoastoarriveata‘fixedprice”,theservicesarechargedona“timeandmaterial”basis.

4.12 TheMaintenanceservicesfeefortheprovisionofMaintenanceservicesbytheGrouptotheInterestedPersonsundertheMSA,calculatedonanannualbasis,shallbebasedonatafixedpercentage(“Maintenance Service Fee Rate”)of the licence feechargedby theGroup totherelevantInterestedPersonorEnd-UserfortheuseoftheSoftwaretowhichsuchservicesrelate.

4.13 Foravoidanceofdoubt,inrespectoftheprovisionofServicesbytheGrouptotheInterestedPerson,theratetobeappliedshallbeattheMan-dayRatesandtheMaintenanceServiceFeeRate,asthecasemaybe.InrespectoftheprovisionofServicesbytheInterestedPersontotheGroup,theratetobeappliedbytheInterestedPersonshallbenomorethanthatoftheMan-dayRatesandtheMaintenanceServiceFeeRate,asthecasemaybe.

4.14 TheMan-dayRatesandMaintenanceServiceFeeRateshallbemadereadilyavailableforreferencebytherelevantoperationalstaffand/orexecutivestogovernpricingoftheprovisionofServices.

Discounts 4.15 TheguidingprincipleoftheIPTspricingisthatthepricingextendedtotheInterestedPersons

shallbenomorefavourablethanthoseextendedtounrelatedthirdparties.

4.16 Thepricing for IPTscoveredby theRenewed IPTGeneralMandateshallbebasedon thepricingguidelinesstatedinthismandateandtheMLAandMSAasthecasemaybe.

4.17 Notwithstandingparagraphs4.15and4.16above,ManagementmayrecommendtotheAuditCommitteeand theAuditCommitteeshall have thediscretion toapproveadiscountwhenManagementandtheAuditCommitteeareoftheviewthatthediscountisinthebestinterestsoftheGroupandisnecessarytoenabletheGrouptomaintainacompetitiveedgeortofacilitateentry into a newmarket or industry. Management shall provide theAudit Committee withrelevantbusinesscase,includinginformationtosupporttherecommendationfordiscount,andtheAuditCommitteeshallevaluatethebusinesscaseandsupportinginformationsubmitted.NodiscountsshallbeallowedwithoutthepriorapprovaloftheAuditCommittee.

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Revisions of pricing methodology

4.18 ThePointsAllocationTableandLicenceFeeBandsTableunder thePricingModelandtheMan-dayRatesandMaintenanceServiceFeeRateunderthepricingforprovisionofServicesoranypartthereofshallbereviewedfromtimetotimeandberevisedaccordingtoprevailingmarketconditionand/orpricing.AllsuchrevisionsshallbereviewedandapprovedbytheAuditCommitteebeforeimplementationoftherevision.

4.19 However,anyrevisionstothepricingmethodologiesforlicensingofSoftwareundertheMLA,resaleofIBMSystemiProductsundertheMSA,andprovisionofServicesundertheMSAshallrequiretheapprovaloftheShareholders.

Credit terms

4.20 ThecredittermsextendedtotheInterestedPersonsshallbenomorefavourablethanthoseextendedby theGroup tounrelated thirdparties forsimilar transactions.TheGrouphasacreditcontrolandcollectionsprocesswhichisappliedtobothInterestedPersonsandunrelatedthirdparties.Followupsonoutstandingbalancesarediligentlyperformedonalldebtors toensurethattheyareawareoftheirpaymentobligationsandfollowupcallsandvisits,wherenecessary,aremadetocollectoverduedebts.

OTHER CONDITIONS ATTACHED TO THE MLA AND MSA

Reporting requirements, audit and review rights under the MLA 4.21 EachInterestedPersonholdingaNon-EnterpriseLicenceisrequired,ifandwhenrequested

bytheGroup,to:

(a) forthwithupdatetheGroupinwritingonthedetailsofthepricingdimensionsapplicableto the relevant InterestedPerson orEnd-User(s), as the casemay be, under suchlicence;

(b) allowtheAuditCommitteeoritsdulyauthorisedrepresentative(s)toauditthebooksandrecordsoftherelevantInterestedPersontoverifythedetailsofthepricingdimensionsapplicabletosuchInterestedPersonand/orEnd-User(s),asthecasemaybe,and

(c) where the relevant Interested Person is not the End-User of the Software, use allreasonable endeavours, to the extent permitted by law, to procure that the AuditCommitteeoritsdulyauthorisedrepresentative(s)beallowedtoauditthebooksandrecords of the relevant End-User(s) to verify the details of the pricing dimensionsapplicabletosuchEnd-User(s).

4.22 WhereanInterestedPersonistheEnd-UserunderaNon-EnterpriseLicenceoriscarryingoutanOutsourcingArrangementunderaNon-EnterpriseLicence,thefeesfortheNon-EnterpriseLicenceshallbesubjecttoreviewandupwardadjustmentbytheGroupfromtimetotimeintheeventofanychangeto thepricingdimensionsof therelevantEnd-UsersuchaswouldordinarilyresultinahigherlicencefeebeingimposedunderthePricingModel.

4.23 WhereanInterestedPersonisnottheEnd-UserunderaNon-EnterpriseLicenceandisnotcarryingoutanOutsourcingArrangementunderaNon-EnterpriseLicence, the fees for theNon-EnterpriseLicenceshallbesubjecttoreviewandupwardadjustmentbytheGroupfromtimeto time in theeventofanychange to thepricingdimensionsof therelevantEnd-UsersuchaswouldordinarilyresultinahigherlicencefeebeingimposedunderthePricingModelprovidedalwaysthattherelevantInterestedPersonhasasimilarrighttoincreasethelicencefeepayablebytherelevantEnd-UserandprovidedalwaysthattherelevantInterestedPersonshalluseitsbestendeavourstoprocuresucharightfromtherelevantEnd-User.AnyadditionallicencefeedeterminedtobepayablepursuanttothisclauseshallbesettledbytherelevantInterestedPersoninaccordancewiththeMLA.

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4.24 The Audit Committee shall have the right to periodically review the terms (including thelicence fee)ofany licencegrantedby theGroup toan InterestedPerson.ThereviewshallbeundertakenonaquarterlybasisbytheAuditCommittee,withallowanceformorefrequentreviewsifdeemednecessarybytheAuditCommittee.InnocircumstancesshallthelicencefeechargedtotheInterestedPersonnotbeinlinewiththetermsoftheMLAandthePricingModel.IftheAuditCommitteereasonablydetermines,inthecourseofsuchreview,thatthetermsofanylicencegrantedtoanInterestedPersonareinconsistentwiththetermsoftheMLAandthePricingModelinamannerthatisprejudicialoradversetotheinterestsoftheGroup,thepartiesagree to takeall suchstepsasmaybenecessary toamend the termsofsuchlicencesoastoensureconsistencywiththetermsoftheMLAandthattherelevantInterestedPersonshallforthwithcompensatetheGroupforanylossordamagesuffered(includinganyshortfallintheapplicablelicencefeepayable)asaresultoftheearlierinconsistency;providedalwaysthatthisclauseshallnotapplyintheeventofanydeviationfromthetermsoftheMLAwhich theGrouphas confirmed inwriting to the relevant InterestedPersonhasbeendulyapprovedbytheAuditCommitteeinaccordancewiththetermsoftheMLA.

Review rights under the MSA

4.25 TheAuditCommitteeshallhavetherighttoperiodicallyreviewthetermsofanyagreementforthere-saleofIBMSystemiProducts(“Re-sale Agreement”)orfortheprovisionofServices(“Services Agreement”) entered into between the Group and an Interested Person. ThereviewshallbeundertakenonaquarterlybasisbytheAuditCommittee,withallowanceformorefrequentreviewsifdeemednecessarybytheAuditCommittee.IftheAuditCommitteereasonablydetermines,inthecourseofsuchreview,thatthetermsofanyRe-saleAgreementorServicesAgreementareinconsistentwiththetermsoftheMSAinamannerthatisprejudicialoradversetotheinterestsoftheGroup,thepartiesagreetotakeallsuchstepsasmaybenecessarytoamendthetermsofsuchRe-saleAgreementorServicesAgreementsoastoensure consistencywith the terms of theMSA and to procure that the relevant InterestedPersonshallforthwithcompensatetheGroupforanylossordamagesuffered(includinganyshortfall in the applicable re-sale price and/or fee payable for the Services) as a result oftheearlierinconsistency;providedalwaysthatthisclauseshallnotapplyintheeventofanydeviationfromthetermsoftheMSAwhichtheGrouphasconfirmedinwritingtotherelevantInterestedPersonhasbeendulyapprovedby theAuditCommittee inaccordancewith thetermsoftheMSA.

Intellectual property rights

4.26 AllintellectualpropertyrightsinorrelatingtotheSoftwareandtheSoftwaredocumentationareandshallremainthepropertyoftheGroup.

Termination

4.27 TheMLAandMSAwillterminateif:

(a) allofMrGohPengOoiandhisAssociatesceasetobeanInterestedPerson,or

(b) intheeventthattheRenewedIPTGeneralMandateiswithdrawnorotherwiseceasestobeinforce.

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5. TRADEMARKS

5.1 TheGrouphastheexclusiveuseofthefollowingtrademarksinconnectionwiththebankingsoftwaresystem:

Trade Mark Class Country Registration Date of Date of Expiry Date No. Application Registration

SILVERLAKE 42 Singapore T05/07323Z 4May2005 4May2005 4May2015

42 Thailand SM28384 9March2005 9March2005 8March2015

42 Brunei 37114 15June2005 15June2005 15June2015

42 Jordan 83440 1Dec2005 1Dec2005 1Dec2015

42 Japan 5026670 23March2006 16Feb2007 16Feb2017

42 Indonesia IDM000095591 17Feb2005 10Nov2006 17Feb2015

42 ThePhilippines4-2005-005519 15June2005 16Oct2006 16Oct2016

42 Vietnam 4-2005-16233 1Dec2005 1Dec2005 1Dec2015 42 SriLanka 125894 17June2005 17June2005 17June2015

42 SaudiArabia 135838 11Oct2008 17April2011 17June2018

09 China 3453118 31Jan2003 14July2004 13July2014

35 China 3453117 31Jan2003 28Aug2004 27Aug2014

36 China 3453120 31Jan2003 21Jan2005 20Jan2015

42 China 3453119 31Jan2003 21Dec2004 20Dec2014

SILVERLAKE 09 Malaysia 95001949 9March1995 9March1995 9March2012

42 Malaysia 09010385 24June2009 24June2009 24June2019 SILVERLAKE

SILVERLAKE iPFS 09 Malaysia 04004586 8April2004 8April2004 8April2014 SILVERLAKE iPFS

09 Singapore T0907376E 3July2009 3July2009 3July2019

42 Singapore T0907380C 3July2009 3July2009 3July2019

Notes:

Class09–Computersoftware;compactdiscs;magneticcards,disksandtapes.

Class35-Businessmanagementandconsultingservices;businessmanagementassistance;compilationof information into computer databases and systemization of information into computer databases;computerizedfilemanagement;accountingadvisoryrelatingtopayroll;procurementservicesforothersthrough means of contract procurement (purchasing goods and services); procurement services forothers throughmeansof contract procurement relating to the saleof goods; computeriseddatabasemanagement;inventorymanagementservices(Commercialorindustrialmanagementassistance).

Class36-Provisionoffinancialinformationanddatabyelectronicmeans;electronicbankingservices;Financing services in termsof credit verification via a global computer information network; financialmanagementofcreditriskbyelectronicmeans;electronicpurchasepaymentandelectronicbillpayment;chargecard,debitcardandcreditcardservices;currencyexchangeservices;bankingservices;financialmanagement,planningandresearchservices;financialclearingservices;Financingservices;financialconsultancy;financialinformation.

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Class42–Consultingservicesrelatingtocomputers,computersoftware,computerhardware,computernetworks, computer systems; computer programming; computer software design, maintenance andupdate; designing, creating, implementing and maintaining web sites for others; computer systemsanalysis; computer systemdesign; data conversion of computer programmesand data (not physicalconversion);hostingcomputersites;installationofcomputersoftware;integrationofcomputersystemsandnetworks;recoveryofcomputerdata.

5.2 The following trademark application is still pending approval from the relevant trademarkoffices.Thereisnoassurancethatthetrademarkapplicationwillbesubsequentlyapprovedbytherelevantauthorities.Intheeventthatanyofthetrademarkapplicationisnotgranted,theDirectorsareoftheopinionthatitisunlikelytohaveasignificantimpactonthebusinessoperationsandfinancialperformanceastheGroupdoesnotrelysignificantlyontrademarksforitsbusiness.

Trade Mark Class Country Application No. Date of Application

SILVERLAKE 42 UnitedArabEmirates 119937 5Oct2008

Note:

Class42-Consultingservicesrelatingtocomputers,computersoftware,computerhardware,computernetworks, computer systems; computer programming; computer software design, maintenance andupdate; designingweb sites for others; creating andmaintainingweb sites for others; implementingwebsitesforothers;computersystemsanalysis;computersystemdesign;dataconversionofcomputerprogrammesanddata(notphysicalconversion);hostingcomputersites;installationofcomputersoftware;integrationofcomputersystemsandnetworks;recoveryofcomputerdata.

5.3 Weintendtofilefurthertrademarksapplicationswhenwarranted.

6. REVIEW PROCEDURES IN RELATION TO IPTs

PursuanttoChapter9oftheListingManualwhichgovernstransactionsbetweenalistedcompanyanditsinterestedpersonsandtakingintoconsiderationtheMLAandMSAasthecasemaybe,thefollowingreviewprocedureshavebeenestablishedinrelationtotheRenewedIPTGeneralMandate:

6.1 TheGroupshallmaintain:

(a) AregistertorecordallInterestedPersons,and

(c) A comprehensive record of all categories of InterestedPersons and non-interestedpersons transactions entered into by the Group, with details on the nature of thetransaction and the amount of and detailed calculation for the fees and charges,includingpricingdimensionusedtodeterminetheBaseLicenceFee,andanydiscountsgiven.

6.2 TheAudit Committee shall be provided with the registers and comprehensive records ofIPTs described above and such other relevant information and agreements which it mayreasonablyrequire,anditshallreviewtheinformationonaquarterlybasistoensurethatallcategoriesof IPTsbetween theGroupand the InterestedPersonsarecarriedoutatarm’slengthinaccordancewiththetermsoftheMLAandMSA,asthecasemaybe,includingtheadherencetotheGroup’sPricingModel(includingthePointsAllocationTableandLicenceFeeBandsTable),pricingmethodologyfortheprovisionofServicesandIBMSystemiProductsanddiscountpolicy,initsconductofIPTs.TheAuditCommitteemaydecidetoreviewsuchtransactionsonamorefrequentbasisifitdeemsnecessary.

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6.3 IftheAuditCommitteereasonablydetermines,duringitsreview,thatthetermsofanylicencegrantedto,saleofIBMSystemiProductsto,orServicesprovidedto/by,InterestedPersonsareinconsistentwiththetermsoftheMLAandMSA,asthecasemaybe,andtheRenewedIPTGeneralMandateinamannerthatisprejudicialoradversetotheinterestsoftheGroup,the parties agree to take all such steps asmay be necessary to amend the terms of therelevantlicencetoensureconsistencywiththetermsoftheMLAandMSA,asthecasemaybe, and theRenewed IPTGeneralMandate and that the relevant InterestedPerson shallforthwithcompensatetheGroupforanylossordamagesuffered(includinganyshortfallintheapplicablelicencefeepayable,ServicefeepayableandIBMSystemiProductre-saleprice)asaresultoftheearlierinconsistency,providedalwaysthatthisshallnotapplytoanydeviationfromthetermsoftheMLAandMSA,asthecasemaybe,whichhasbeendulyapprovedbytheAuditCommittee.

6.4 TheAuditCommitteeshallalsoreviewthecredittermsandbillingandpaymentarrangementsextended to the Interested Persons from time to time by comparing them against thoseextendedtounrelatedthirdpartiesforsimilartransactionsorservices,toensurethattheyarenomorefavourablethanthoseextendedbytheGrouptounrelatedthirdparties.

6.5 TheGroup’sannualinternalauditshallincorporateareviewofallInterestedPersonsandIPTsenteredintopursuanttotheRenewedIPTGeneralMandate.TheinternalauditorshallreportdirectlytotheAuditCommitteeonallofitsfindingsfromthereviewoftheIPTs.

6.6 TheAuditCommitteeshall,whenitdeemsnecessary,havetherighttorequiretheappointmentof auditorsor any independentprofessionals to reviewallmatters relating to theMLAandMSA.

6.7 Ifduringitsperiodicreview,theAuditCommitteebelievesthattheguidelinesandproceduresasstated in theRenewed IPTGeneralMandatehavebecome inappropriateand/orarenolongersufficienttoensurethattheinterestsoftheCompanyandtheminorityShareholdersarenotprejudicedandthattheIPTsareonnormalcommercialterms,afreshmandatebasedonnewguidelinesandproceduresshallbesoughtfromShareholders.

6.8 AllthemembersoftheAuditCommitteeshallbenon-executiveDirectorswhodonotholdanyexecutivedirectorshipsorequityinterestsintheInterestedPersons,and

6.9 IfanymemberoftheAuditCommitteehasaninterestinatransaction,heshallabstainfromparticipatinginthereviewandapprovalprocessinrelationtothattransaction.