News

MEMORANDUM OF COLLABORATION ("MOC") BETWEEN GLOBAL INT'L FOOTWEAR (HONG KONG) CO., LTD ("GIF") AND HONGPENG FUJIAN SHOES & GARMENTS CO., LTD ("HPFS")

We refer to your Company’s announcement dated 25 May 2017, in respect of the aforesaid matter.

In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1. Whether the MOC is legally binding;
2. Basis to arrive at the amount of Original Design Manufacturer production orders from GIF to HPFS in the next twenty-four (24) months of not less than RMB160 million in aggregate;
3. Background information on GIF including the principle business activities, identity of the directors and major shareholders together with their respective shareholdings; 
4. Whether will there be any definitive agreement to be entered into. If yes, to provide reason for having such a long MOC validity period of twenty-four (24) months; and
5. To further elaborate what is the right of recourse available to HPFS in the event the production orders from GIF is less than RMB160 million in aggregate for the next twenty-four (24) months.

Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

Yours faithfully,

HENG TECK HENG
Vice President, Issuers
Listing

Regulation
TGG

Cc : Market Surveillance Dept. , Securities Commission (via fax)