News

Private Placement Of:(1)10,000,000 New Ordinary Shares Of Par Value S$0.10 Each (The "Subscription Shares") In The Capital Of Qian Hu Corporation Limited (The "Company") To Qian Hu Holdings Pte Ltd; And (2) 10,000,000 Existing Ordinary Shares Of Par Value S$0.10 (The "Sale Shares") Held By Qian Hu Holdings Pte Ltd, To The Development Bank Of Singapore Ltd ("DBS") As Placement Agent

Further to the announcement made on 29 April 2002 in relation to the above-mentioned private placement, the Company wishes to announce that the 10,000,000 Sale Shares have been fully placed out as at the date of this announcement.