Asset Acquisitions and Disposals::Increase of Shareholding in Airwell Air-conditioning (Asia) Company Limited ("Airwell Asia")

Issuer & Securities

Announcement Title: Asset Acquisitions and Disposals
Date &Time of Broadcast: 30-Nov-2015 17:19:32
Status: New
Announcement Sub Title: Increase of Shareholding in Airwell Air-conditioning (Asia) Company Limited ("Airwell Asia")
Announcement Reference: SG151130OTHRPFSA
Submitted By (Co./ Ind. Name): Ng Siew Ping, Jaslin
Designation: Company Secretary
Description (Please provide a detailed description of the event in the box below): The Board of Directors of Hong Leong Asia Ltd. (the "Company") announces that the Company has, through its nominee Hong Leong Asia Investments Pte. Ltd. ("HLAI"), completed the acquisition of a 20% equity interest in the capital of Airwell Asia, from Elco Holland B.V. for a consideration of US$1 (the "Completion"). This transaction was first announced, by the Company, on 13 November 2015.

Airwell Asia has, on Completion, become an indirect wholly-owned subsidiary of the Company.

HLAI and Fedders Investment Holdings Pte. Ltd., which are wholly-owned subsidiaries of the Company, hold 60% and 40% respectively, of the equity interest in Airwell Asia, which in turn, owns 67% of the equity interest of Airwell Air-conditioning Technology (China) Co., Ltd..

By Order of the Board
HONG LEONG ASIA LTD.

Yeo Swee Gim, Joanne
Ng Siew Ping, Jaslin
Company Secretaries

30 November 2015
Singapore