Redemption at the Option of Noteholders pursuant to Change of Shareholding Event

If, for any reason, a Change of Shareholding Event occurs, the Issuer will within seven days of such occurrence give notice to the Noteholders of the occurrence of such event (the “Notice”) and shall, at the option of the holder of any Note, redeem such Note at its Redemption Amount (as defined in the Trust Deed), together with interest accrued to the date fixed for redemption, on the date falling 60 days from the date of the Notice (or if such date is not a business day (as defined in Condition 4), on the next day which is a business day). To exercise such option, the holder must deposit such Note (together with all unmatured Coupons) with the Issuing and Paying Agent at its specified office, together with a duly completed option exercise notice in the form obtainable from the Issuing and Paying Agent or the Issuer (as applicable), no later than 30 days from the date of the Notice. Any Note so deposited may not be withdrawn (except as provided in the Agency Agreement) without the prior consent of the Issuer.

For the purposes of this paragraph:

(i) a “Change of Shareholding Event” occurs when Mr Chua Thian Poh and his Immediate Family Members cease to own in aggregate (whether directly or indirectly) at least 51 per cent. of the issued share capital of the Issuer; and

(ii) “Immediate Family Members” means Mr Chua Thian Poh’s father, mother, siblings, wife, son(s) and daughter(s).