Upgrading & Re-development of Existing Vientiane MorninMarket to Talat Sao Shopping Mall.Investgation, Findings & Facts:

Excalibur Group of Companies:

By name only and not legal entity, where individual Companies under the Group were setup as Legal Entities for individual Projects:

- EXCALIBUR GROUP PTE. LTD.(With Effective from: 28 November 2002) Registration No. 200005724K

- Vientiane Trades Centre Development Private Limited established on 24/04/2002 with Dr. Lawrence Leow holding 97 Shares; Mr. Tan Meng Liang holding 2 Shares and Mr. Leow Chin Huat holding 1 share. The signing party on behalf of Excalibur Group for “Upgrading & Re-development of Vientiane Morning Market to Talat Sao Shopping Mall” with Ministry of Planning & Investment on behalf of Government of Lao PDR.- Vientiane Excalibur Development Private Limited was established on 8/5/1999 with

Dr. Lawrence Leow; Mr. Tan Meng Liang and Mr. Leow Chin Hai as Directors. This Company is used for signing Contract with Main Contractor for Construction Works, likes; 14MCC for Mall 1 & Hoe Chin Aluminum & Glass Renovation Co., Ltd. for Mall 2.

- Talat Sao Shopping Mall Co., Ltd. A Company registered in Lao PDR to undertake the Upgrading & Redevelopment of Vientiane Morning Market into Talat Sao Shopping Mall Co., Ltd.

- With Mr. Lawrence Leow Chin Hin; Mr. Tan Meng Liang and Mr. Tan Kok Leong each holding 1 shares cum Director.

In the Year 2008; Excalibur Group of Companies had been renamed as “Crescendas Group of Companies” under the Laws of Singapore, Crescendas Group of Companies shall take over all Legal Responsibilities that committed under Excalibur Group of Companies.

My Involvement in Talat Sao Mall Project:

I had been involved in Upgrading & Redevelopment Vientiane Morning Market to Talat Sao Mall Project since 2001 – 1st. Letter of Intent in Year 2001 till today. I also was financing the Expenses of Talat Sao Mall 1 from 1/1/2010 till 30/6/2013 and Talat Sao Mall 2 from 1/1/2010 till 10/2/2016 pending refund by Excalibur Group Singapore with amount more than US$3,000,000.

I had involved in Negotiation; Meeting; Drafting and preparation towards signing of Memorandum of Understanding on 19/2/2003 and Master Concession Agreement on 13/8/2004 between Government of Lao PDR represented by Ministry of Planning & Investment and Excalibur Group Singapore represented by Vientiane Trades Centre Development Private Limited.

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My duties & responsibilities:

- Project Co-ordination- Recommendation of suitable Contractors and Sub-contractors- Prepare and Submission of Project Progress Report- Quality Controller- Design, Drawing; Site Co-ordination and seek Authorities Approval.- Administration; Sales; Marketing; Sales and Purchase Agreement and Strata Titles

signing & issue.- Overall in-charge for Phase 2 & 2A. Besides the above also included financial

support.

Letter of Certification of Employment/Involvement is attached.

After signing the Master Concession Agreement, Developer had set up a local registered Company “ Talat Sao Shopping Mall Co., Ltd” with Paid Up Capital US$ 500,000/= and Registered Capital of US$ 3,000,000/=Initial Capital of US$ 500,000/= were then transfer into Company’s Account with Public Bank:

20/12/2004 – US$ 100,000/=22/04/2005 – US$ 100,000/=07/07/2005 – US$ 100,000/=21/07/2005 – US$ 50,000/=25/07/2005 – US$ 90,000/=24/08/2005 – US$ 60,000/=

Talat Sao Mall 1:

Talat Sao Shopping Mall Co., Ltd. was operated with Initial Paid Up Capital of US$ 500,000/=; followed by payment of Construction Progress Claims which were paid directly by Directors’ Loan from Vientiane Trades Centre Development Private Limited to about US$ 1,190,000/= and Over-draft by Public Bank Vientiane Branch secured by Cash Deposit in Public Bank Malaysia. (Attachment)

China No. 14 Metallurgical Construction Company (14MCC) was awarded on 25/02/2005 as Main Contractor for Construction – Structural Works – US$ 2,120,000/= (Included: Preliminaries, Piling Works, Excavation & Superstructure)Architectural Works – US$ 990,000/=

- Total: US$ 3,110,000/= (Attachment)

(Breakdown as Material Cost: US$ 2,738,000/= & Workmanship US$ 372,000/=)

Additional Works: (US$ 42,641/=) (Attachment)

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1. Remedy of Damaged Drainage awarded to 14 MCC: US$ 24,993/=2. Ceiling above Void awarded to Mr. Nam: US$ 9,000/=3. Expending Vehicles Ramp Width: US$ 1,260/=4. Dismantle Brick Wall on 1st. & 3rd. Floor: US$ 250/=5. 3rd. Floor Tiling Works: US$ 1,900/=6. 3rd. Floor Concrete Counter: US$ 5,238/=

M& E Works: (1,737,874.06) (Attachment)

1. Ducted Air-conditioning System: US$ 376,257.362. Split Unit Air-condition: US$ 168,609.053. Lifts & Escalators: US$ 301,052.004. Main Electrical System & Water Works: US$ 825,229.075. Additional for Electrical Works: 58,052.006. Lightning Protection: US$ 8,674.587.

Total Cost of Construction for Talat Sao Mall 1: US$ 4,890,515.06/=

(The above amount not included Loan/Bank Interest and Expenses that decided by Excalibur Group)Thereafter; Developer had made payment through transfer from Singapore; Direct payment to China Contractor in China; deposit Cash with Public Bank Johor Bahru Brand for Overdraft Facilities provided by Public Bank Vientiane.Fund was insufficient to meet the Construction Cost for Mall 1 and I managed to negotiate with Main Contractor and Sub-contractor to accept Shop Units as payment; I also help to mortgage Shops to local banks for funding the project.11 Shops in operation during Opening Ceremony of Talat Sao Mall Phase 1 Block C on 6/4/2007 (Attachment 1) as Traders do not have confidence that Mall can be operation successfully with profit. Under my Management, I had taken steps to gain confidence and started to do business in Mall 1:

A. I had purchased Unit No. C#01-01 of 626m2 at US$ 900,000/= converted into Capital Mobile Mart as 1 of the main extraction to customers and public.

B. I had purchase Unit No. C#03-01 of 1041m2 at US$ 983,750/= converted into Capital Food Court as another extraction and most successful popular Food Court in Vientiane Capital.

C. I also provide 10 to 15 Years Installment Plan with No Down Payment for Traders to own a Shop which extract more than 50 Traders to take up the plan.

D. I also charged Monthly Rental of LAK 2,430,000/= per Unit for those Traders who are unable to purchase shop and the rental maintenance the same since 2007 till 2012.

E. I had organized Promotion Events to extract crowds to do shopping in Mall 1F. I had made arrangement by paying 10 Baht per head for Tour Groups to bring

Thailand Tourists to do shopping and having Lunch in Capital Food Court.G. Today, traders who purchased shop unit of 16m2 at US$ 40,000/= in Year 2007/2008

(This price was approved by Authorities based on Rental of US$ 1,000/= per Year for Lease period of 40 Years) and now is enjoying a resale value of US$ 80,000/= to US$ 100,000/= per Unit. Currently Shops on 1st. Floor that belong to traders can have

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Monthly Rental of US$ 1,000/= per Month and US$ 600/= per Month for Shops on 2nd. Floor.

Matters rose during Construction:

- 14 MCC had engaged Liemmansieng Construction Co., Ltd. as Bored Piling Sub-Contractor with total amount US$ 283,000/=. Balance US$ 50,000/= was dispatch with settlement under Law and finally I help 14 MCC to make such payment. (Attachment)

- During the construction period I had made undertaking and warranty to Vientiane Steel Industries and Hongkham Concrete so that they had provided Credit Terms to 14 MCC total to as high as US$ 600,000/= (Attachment)

- Developer did not pay Contractor in time by delay the approval of Progressive Claims; 14 MCC had made several requests to get Loan from Developer to solve cash flow problems. Final settlement amount of US$ 420,000/= by accepted 8 Shop Units on 2nd. Floor: C#02-18; C#02-19; C#02-20; C#02-25; C#02-43; C#02-44; C#02-45 and C#02-46. (Attachment).

- 14 MCC had assigned the 8 Shop Units to me and I had used my fund to help to settle outstanding payment of 14 MCC:

- US$ 50,000/= to M/s Liemmansieng Construction Co., Ltd. (Balance Piling Claim) (Attachment)

- Workers’ Salary of US$ 18,600/= (Attachment)- Workers’ Tax of US$ 37,200/= (Attachment)- Electricity for Construction Site: US$ 2,590/= - Piles Testing Fee: US$ 860.60- Excavator’s Rental: US$ 4,000/=- Personal Loan: US$ 4,300/=- Importation Shipping Charge: US$ 1,180/=

Balance amount were paid back to 14MCC in few installment.

- Electrical & Water Works was awarded to M/s Pan Motor Co., Ltd. to amount: US$ 825,229.07 but Contract was terminated mutually as M/s Pan Motor Co., Ltd. unable to comply with contract. Works done by M/s Pan Motor Co., Ltd. amount to US$ 503,281/= and Developer had re-awarded the remaining works to M/s Saythong Electrical Co., Ltd. at US$ 380,000/= which mean Developer had incurred additional cost of US$ 58,052/=. (Attachment 1)

- M/s Saythong Electrical Co., Ltd unable to complete works in time as stated in contract and also discovered that Electrical Cables installed were Undersized; US$ 99,000/= was pending and both parties had ended in Legal action pending final judgment. (Attachment 1)

- Developer after terminated the Contract with M/s Pan Motor Co., Ltd. did not make further payment and ended up I had stepped in to negotiate and awarded Shop Units: C#03-12; C#03-15; C#03-16; C#03-18B; C#03-34; C#03-35; C#03-36 & C#03-37 to M/s Pan Motor Co., Ltd. to prevent both parties ended up in Legal Case.

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Sales of Shop Units:

Talat Sao Mall/Phase 1 with total 171 Shop Unit: (Prices set in Year 2006)

Sales Prices: 1st. Floor = US$ 4,178,540/=2nd. Floor = US$ 4,378,200/=3rd. Floor = US$ 3,120,000/=

Built-up Area: 19,146m2

Retails/Commercial Area: 7,895.50m2

Common Area: 11,250.50m2

Total Sales Collected as at 30/6/2013 = US$ 8,522,951/=

Company had sold C#01-01 and whole 3rd. Floor to me with partial payment by paying all Operation Expenses that incurred during my Management as re-payment: (My acceptant also because of using shop units as payment to sub-contractors and prevention for legal cases)

Whole of 3rd. Floor consist of C#03-01 of 1,041 m2 had been operate as Capital Food Court; besides Shop Units: C#03-12; C#03-15; C#03-16; C#03-18B; C#03-34; C#03-35; C#03-36 & C#03-37 given to M/s Pan Motor Co., Ltd. as their Construction Works. The rest were partially sold or sold under Monthly Installment or still under my ownership for collecting Month Rental. (Attachment)I have not reach final settlement amount with Developer as I have not received the final approved claims of expenses that I had submitted to Developer till 31/12/2012, total claims pending for final accounting since 2010 to September 2013 with amount US$ 2,466,349.08.

Fund transferred back to M/S Vientiane Trade Center Development Pte. Ltd. From M/S Talat Sao Shopping Mall Co., Ltd. into Bank Account in DBS Singapore via Public Bank, Vientiane.

11/9/2008 US$422,514.5519/9/2008 US$180,555.002/1/2009 US$401,215.0027/5/2009 US$42,760.004/9/2009 US$250,515.0023/9/2009 US$250,515.0019/3/2009 US$100,000.0021/5/2010 US$100,000.003/6/2011 US$501,015.007/6/2011 US$501,015.009/6/2011 US$501,015.00

All rental income, sales collection were deposited into Talat Sao Shopping Mall Co., Ltd. account accordingly by Koo Chin Heng

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Since after the Official Opening of Talat Sao Mall Phase 1 on 6th. April 2007, I had met up with few Architects in Singapore regarding the Design of Talat Sao Mall Phase 2 and I had discovered that Architect that asked to works for this Project by Excalibur Group are not interested to work for this project and I also observed that Excalibur Group as Developer do not have intention to invest any more monies to continuous Phase 2 ; 2A & 3 of the Project. Therefore I had recommended Investors to negotiate to buy/financing the Project; finally Dr. Lawrence; President cum CEO of Excalibur Group Singapore had accepted my recommendation by accepting Hoa Chin Co., Ltd. Initial as Contractor for Bored Pilling for Phase 2 Project and thereafter entered into Letter of Offer; Letter of Awards and Construction Contract as “Contractor cum Investor” under the following terms and conditions.

Talat Sao Mall 2:

Ground Breaking Ceremony for Phase 2 Construction of Talat Sao Mall 2 was held on 10th. July 2008; thereafter Developer did not process any fare as they are unable to secure Contractor to do the works. (Attachment)

On the 14/1/2009; Lewis KOO as Director of Administration & Marketing of Talat Sao Shopping Mall Co., Ltd. had awarded Bored Piling (Wet Process) Phase 2 Construction of Talat Sao Mall to M/s Hoe Chin Co., Ltd. for Contract Sum of USD 1,305,037/= (Attachment)

On same day; Lewis KOO as Director of Administration & Marketing of Talat Sao Shopping Mall Co., Ltd. also assist M/s Hoe Chin Co., Ltd. to engage Siam Bore Tec Co., Ltd. to conduct Bored Piles of 26 Units with Diameter 800mm; 154 Units of Diameter 1000mm and 75 Units of diameter 1200mm, inclusive of Equipment Mobilization & De-mobilization to total contract sum of Thailand Baht: 15,123,500/= (Attachment)

Vientiane Excalibur Development Pte. Ltd. (Subsidiary of Crescendas Group) Representing Excalibur Group Singapore to enter into agreement on 27/4/2009 via Letter of Offer & Letter of Award to engage Hoe Chin Co., Ltd as Contractor and Investor to use their own fund to building the Phase 2 (Centre Building) and Phase 2A (Link Building between Mall 1 and Mall 2 (Attachment)

- Hoe Chin Co., Ltd. As Contractor and Investor to use their own fund to building the Mall/Phase 2 Centre Building and Mall/Phase 2A Link Building.

- Hoe Chin Co., Ltd. To pay Excalibur Group a sum of US$ 8,000,000/= as Benefit for Excalibur Group being awarding the Project to Hoe Chin Co., Ltd. By Installment payments.

- Upon completed 4th. Floor of Talat Sao Mall Phase 2, Excalibur Group shall transfer the right of Commercial Property on Ground Floor to 3rd. Floor to Hoe Chin Co., Ltd and Hoe Chin Co., Ltd. Have the right to use the sales income to financial the rest of the Construction Works.

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- Hoe Chin Co., Ltd. Had management to construct and complete the Building and Excalibur Group Singapore had conducted Ceremonial Opening of Mall 2 on 11/11/2011.

- Hoe Chin Co., Ltd. Had made in few payment to total amount US$ 3,000,000/= to Vientiane Trades Centre Pte. Ltd. Either directly transfer to their Account in Singapore or deposit through myself into Talat Sao Shopping Mall Co., Ltd. Account using sales collection of shops in Talat Sao Mall 2 with detail as followings:

6/5/2011 US$1,000,000.00 payment made by Madame Boun Home of M/S Manee Group

25/5/2011 US$349,295.00 payment made by Madame Veunkham 27/5/2011 US$92,247.00 payment made by Siam International 30/5/2011 US$20,000.00 Cash of Koo Chin Heng 31/5/2011 US$5,000.00 Cash of Koo Chin Heng 1/6/2011 US$39,997.00 ICB Check:008819 7/7/2011 US$185,721.00 In-house check transfer from account of Koo Chin Heng.

Kip865,679,500 deposited by Koo Chin Heng into Talat Sao Shopping Mall Co., Ltd. account with Lao Development Bank which equal to US$107,740.00 partial of sales collection from Mall 2 shops. Excalibur Group had mentioned in their e-mails indicated that they had received such amount but have not issue any Official Receipt.

- Hoe Chin Co., Ltd Had requested in written and also through meeting and Dr. Lawrence Leow; President/CEO of Excalibur Group Singapore only given his verbal commitment “ Commercial Property in Phase 2 are belong to you and you can sell or do whatever you want” but have not provide any Written handing over.

- Meeting on 26th. 27th. and 28th. Of June 2013 between Excalibur Group Singapore, myself and Hoe Chin Co., Ltd. Sense that Excalibur Group Singapore have the intention to swindle Hoe Chin Co., Ltd Dr. Lawrence Leow; President/CEO of Excalibur Group Singapore spoken in the meeting that: “ My estimation; Contractor only invested around US$ 7 to 8 Millions as majority of the Construction Cost actually from sales of Shop Units and I am prepared to give away Shops that worth that amount as Compensation of Contractor’s Works”

Company who signed the Letter of Offer and Letter of Award to construct Talat Sao Mall Phase 2 was actually in full name: M/s Hoe Chin Aluminum & Glass Renovation Co., Ltd. (Attachment)(Short form in Contract as “Hoe Chin Co., Ltd.”) where Mr. Zhang Xia Ming holding 60% Shares and the rest under his relatives and friends. This Company was used under mutual understanding as signing party with Excalibur Group Singapore to take up such construction works but in actual fact a Joint Investment Agreement had been signed 9/5/2009 that Mr. Zhang Xia Ming; Mr. Xu Ji Guo & Mr. Yan Wen Pia as One Part holding 50% Shares and Mr. & Mrs. Lewis KOO holding the other 50% shares, using total Venture Capital of USD 3,000,000/= to take up such Project from Excalibur Group Singapore. (Attachment)

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Therefore; Mr. Lewis KOO had involved totally for this Project:

1. Using his Capital Mobile Mart (C#01-01B) and Capital Food Court (C#03-01) as mortgage to Mr. Xaypanya (Daoneua complete development Co., Ltd.) for loan of US$ 2,000,000/= (Amount still outstanding). Mr. Khamimg of Malinda Jewelry also using his plot of land as additional security. In return I had committed to Mr. Khamming for Right of Purchase 14 Shop Units on 2nd. Floor; 11 Shop Units on 1st. Floor at Special Privilege Price. (Attachment 1)

2. Madam Bounhom PHOMMAVIXAY of Manee Real Estate had assisted in provided Letter of Credit facility from Laoviet Bank for issue Letter of Credit for purchase of Building Material; Equipment and Plants. In return; 4 Shop Units on 1st. Floor; 8 Shop Units on 2nd. Floor and 10 Shop Units on Ground Floor were committed Right of Purchase to Madam Bounhom PHOMMAVIXAY at Special Privilege Price under 3 payments; 1st & 2nd of each US$500,000 and last payment of US$1,000,000.00.

3. B#02-36; B#02-48; B#02-70; B#02-71; B#02-72 and B#02-88 were sold to close friends with advanced payment.

4. Under request of Leader in Champasack Province through Vientiane Mayor; his relative and friends were also been committed to right of purchase for 10 Shop Units. (Attachment)

5. Thereafter the sales cannot be stopped as Traders from U Block of Morning Market who will be affected by Phase 3 development had flowing in to request for shops and I have to provide them with shops as sooner or later this issue will have to be solved.

6. During the sales period; there are Units that re-sold with profit by individual who have the right and that also causing re-selling prices higher and higher and demand also higher and higher. The above shops were sold by Buyers to 3rd. Parties on mutual willing condition and buyers had benefit out of the sales but not Company.

7. Unit B#01-25; B#01-35 & B#01-36 were forced to pay VAT 10% to Tax Department in Year 2011; which also alert Tax Department to collect VAT 10% on Sales of Shop for the Project and even all Shopping Centre Project throughout the Country.

8. Some Units were re-sold without our knowledge which we shall not responsible.9. I had using my capacity to sign Sales and Purchase Agreement; endorsed by People’s

Court thereafter endorsement on Strata Titles for Vientiane Assets Department as issuer for individual shop owner: as agreed together with Zhang Xia Ming, Xu Ji Guo and Yan Wen Pia as solution.

10. At final stage of M&E Works; monies still in-sufficiency, I had mortgaged Units that reserved for Resettled Tenants from Morning Market U Block to Lao-Viet Bank for Fund under my wife’s account for US$ 3,300,000/= to finance the project. (B#G-01; B#G-88; B#01-00; B#01-01; B#01-02; B#01-03; B#01-16; B#01-46; B#01-48; B#01-49 and B#01-52) The loan paid partially still not pay back to Lao-Viet Bank in full yet. The loan was used to cover back USD2 millions L/C facility of Hoe Chin Aluminum & Glass Renovation Co., Ltd. and balance US$1.3 millions transfer to account of contractor with ANZ Bank.

11. Currently I still have more than US$ 6,000,000/= with the project being payment for material, equipment, machinery and workmanship.

12. Lewis KOO shall entitle to 50% of Benefit they make out of this Project under Joint Investment Agreement and also his contribution to this project.

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13. Shop unit No B#G-15 was used as payment to in-house telecommunication system contractor, unit No. B#G-30 to contractor for Phenolic Ducting works and B#G-56 to toilets partition and doors contractors.

14. In order to protect the interest/benefit and right of holding Commercial Properties in his building, Strata Titles for the rest of commercial properties from 2nd. Floor to 8th Floor were also been issued as requested and agreed by all to register under the names: Zhang Xia Ming, Xu Ji Guo, Yan Wen Biao, Vilayphoon Khotpachim and the Mall Co., Ltd respectively.

Benefit of Lewis KOO in Talat Sao Mall 2:

1. Shop Units: B#01-03; B#01-16; B#01-46; B#01-48 was given to Lewis KOO for payment of Loan Interest, as agreed by all partners of this project.

2. 50% benefit of Commercial Properties:- 2nd. Floor – Goldsmith Zone 1,704m2- 3rd. Floor – 6,573m2- 4th. Floor – Retail Area 1,110m2; Cinemas 1,083m2; Bowling Alley 1,278m2; Day

Care 97m2; Children Playground 160m2- 5th. Floor – Bowling Alleys 1,343m2 & Amusement Park 1,000m2- 6th. & 7th. Floors for Hotel Room or Office for Rent – 11,340m2- 8th. Floor – Function Hall 1,485m2 & Pre-function Lounge 192m2

Basically; the sales collection for Retailing Area is sufficient to cover all Building Cost and Contractor still having benefit for Commercial Properties from 2nd Floor to 8th Floor at value: US$34,509,750/=

Current Project Retain Value = US$ 34,509,750/= (Purchase over Commercial Properties) (Attachment 1)

Plus Good-Will Value: US$ 2,870,000.00 + US$ 7,480,000.00 = US$ 10,350,000.00Estimated Total Project Value: US$ 44,859,750.00 as 30/6/2013

Right & Responsibility of Hoe Chin Aluminum & Glass Renovation Co., Ltd.

Under the Letter of Offer; Letter of Award & Construction Contract that signed between Excalibur Group Singapore; The Developer of Talat Sao Mall project: Hoe Chin Aluminum & Glass Renovation Co., Ltd. shall using their own Fund to build Mall 2 and will paid by Commercial Property in the Mall. (Where Jointly Invested with LK with benefit 50%) Management Right of Mall 2 remained under Excalibur Group.Hua Xin Development Co., Ltd. established in year 2012 does not have any connection or right in Talat Sao Mall Project.Authorities should warn Mr. Zhang Xia Ming; Mr. Xu Ji Guo & Mr. Yan Wen Pia not to interfering into the daily management & operation of Mall 2; causing confusion to all Traders in the Mall. To make payment of Electricity; Water & Maintenance Fee of Units that they are using

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to avoid Termination of Supply under the In-House Regulations that signed with Existing Management.

Investment in Construction Talat Sao Mall 2/Centre Building:

Subject to final auditing and revise; as at 31/12/2012; M/s Hoe Chin Co., Ltd. had Invested Cash into this Project: US$ 2,649,097/= (Subject to final account as some payment and interest have not included) (Attachment)

Total Construction Cost under Lewis KOO: US$ 28,026,893.30 (As at 31/12/2011) (Attachment)

Total Sales Collected and used for the Project (but not included Fund for Maintenance and Management of Talat Sao Mall 2 from 1/1/2012 till today) as 30/6/2013: US$ 22,711,998/= All collection were used for the Project. (There are still few shops under installment but I had included as Fully Paid) (Attachment)

Talat Sao Mall/Phase 2 with total 283 Shop Unit:

(Prices set in Year 2009)

List Prices: Ground Floor /3345m2 = US$ 10,938,500/= 1st. Floor / 3160m2 = US$ 15,220,600/= 2nd. Floor / 1994m2 = US$ 7,669,800/=

Total List Price: US$ 33,828,900/= (Only for Retailing Area)

Total List Price for whole Building: US$ 68,338,650/= (Upper Floors at value: US$34,509,750/=)

Actual Sales Collected as 31/12/2011: US$ 21,732,931/=

(Report till 30/06/2013 as US$ 22,837,158.00 due to some Shops paying installment)

Ground Floor /3345m2 = US$ 5,579,471/=

1st. Floor / 3160m2 = US$ 8,711,504/= 2nd. Floor / 1994m2 = US$ 7,441,956/=

Construction Cost as at 31/12/2013 = US$ 33,675,990.32 Built-up Area: 64,776m2 (Average Building Cost: US$ 519.88/m2)Retails/Commercial Area: 34,998.5m2 (Average Sales: US$ 1,906/m2)

Common Area: 29,777.5m2 (Good-will value: US$ 7,480,000/=)

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Transfer bank Directors’ Loan and Profit to Vientiane Trades Centre Development Private Limited

Developer only keep his Paid Up Capital of US$ 500,000/= in Bank Account and started to transfer back Fund to Head Office in Year 2008 and 2009 as “Repayment of the parent company’s loan to the Company” (Beside Paid Up Capital all Fund and Profit were repatriate back to Present Company) (Attachment)

Talat Sao Shopping Mall Co., Ltd. under the Directors’ Resolutions in many occasions had transfer all Directors’ Loan and Profit back to Vientiane Trades Centre Development Private Limited around US$4M. (Attachment)

Plus US$ 3,000,000/= paid by Hoe Chin Co. Ltd. for Mall 2. (Out of it, US$ 2,200,000/= was Sales Collection from Mall 2 under Lewis KOO accounting and Directors of Hoe Chin Co., Ltd. US$800,000/=) (Attachment)

It is my responsibility to make report to Vientiane Administration on the Total Cost of Construction for Mall/Phase 1 & 2 also Total Sales Collected for Mall/Phase 1 & 2 accounting as at 31/12/2011 under their request. (Attachment)

Vientiane Tax Department request for Tax Payment for Sales Income based on VAT Law with estimated amount to about US$ 2,558,521/=. Excalibur Group knows but reluctant to accept such Tax Payment. Many round of meeting with just argument that “Not stated or mentioned in Master Concession Agreement that Excalibur Group is responsible to pay such tax as we do not have such sales income”. (Attachment)

Letter of Confession:

On 27/6/2013, In order to prevent conflict between Crescendas Group and Hoe Chin Co., Ltd. into legal case which will cause delay in Talat Sao Mall Development Project and also damage the reputation of Crescendas Group or might cause termination of this Project with all problems disclosed? I had undertaken and was forced to sign a Confession Statement by Excalibur Group with Company’s Lawyer Mr. Sivath SENGDOUANGCHANH, even points that mentioned in the Letter were not in true fact. (Attachment)

1. Using duplicated Company’s StampActual Fact: Original Company Stamp was return back to Excalibur Group on 27/01/2010 but based on e-mail dated 29/01/2010 and Extract of Resolutions Talat Sao Mall Phase 2 stamps were sent for using during Construction of Mall 2. (Attachment 1)

(Please find Handing & Taking over of Company Rubber Stamp dated 27/1/2010 and e-mail of Mr. Isaac Tan request Directors’ Resolution for use the new Phase 2 stamp dated 29/1/2010)

2. Misrepresentation/My Employment had been expired on 30th. November 2006Actual Fact: I only signed my first “Employment Agreement” and was expired in Year 2006 but thereafter I was working under Talat Sao Shopping Mall Co., Ltd. where all

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document that I had signed were under Director of Administration and Marketing of Talat Sao Shopping Mall Co., Ltd. (Attachment 1)(Please find Letter of Certification dated 20th. November 2007 as attached)

3. Fraud/Sold Company AssetsActual Fact: Talat Sao Mall Phase 2 was Invested and building by Hoe Chin Co., Ltd. and they have full right to sell all the commercial property and make use of the sales collection for purchase material; equipment; furnishing the building. (Attachment)(Sales income to finance the Construction Cost of Mall 2 those Assets belongs to Hoe Chin Co., Ltd.)

4. Withholding Information with the Intention to Deceive: Actual Fact: All Letters from Authorities were kept in Office but I had provided Translated Copies with scanned copy of Original to Excalibur Group via e-mails. After 1/3/2012; all letters from Authorities were sent to Mr. Lam; General Manager of Talat Sao Mall 1. (Attachment)(Letters from Authorities were filed in Office and only translated version were sent via e-mail attachment)

5. Undertaken to pay VAT 10%/Committed to Vientiane Tax Department on VAT 10% of Sales which equal to USD 2,558,521.00 Million and responsible to pay such amount. (Attachment 1)Actual Fact: Excalibur Group had received US$3,000,000/= from Hoe Chin Co., Ltd. and should have priority to make use of the money for payment of VAT 10% incurred by sales of Talat Sao Mall 2. Moreover; Hoe Chin Co., Ltd. whom had been making use of the sales collection from Mall 2 for building works in Mall 2 had undertaken to Tax Department for payment of VAT 10% of sales collection. I did not using any monies from sales collection in Mall 2 and I should not be responsible for make such payment. It is not my personal liability (M/s Hoe Chin Co., Ltd. had undertaken to pay such VAT 10% upon received Official Handing over of Commercial Property in Mall 2 but Excalibur Group delay the processing)The Land Titles of House of resident (Address as mentioned above) plus 6 Strata Titles of Shops owned by my family (Units: C#02-20; C#02-25; C#02-43; C#02-44; C#02-45 & C#02-46) were with held as Security for ensuring my payment of USD 2.5 Million Tax. (Attachment 1) Company’s Lawyer Mr. Sivath SENGDOUANGCHANH had engaged 3 Police standby to arrest me if I did not signed the above Confession Statement and I also hope that by signing the Statement; Excalibur Group can dissolved the conflict between them so that case can be solved in harmony. Finally Excalibur Group had accusing Hoe Chin Co., Ltd. that they had breach the Contract and having intention to swindle them.

During the visit of Dr. Lawrence Leow; President/CEO of Excalibur Group from 25/6/2013 to 28/6/2013 and statement provided to Government Leaders:

A. Ignorance of Legal present of Lewis KOO as Director of Administration and Marketing in this Project.

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B. Admitted that M/s Hoe Chin Co., Ltd. as Contractor of Talat Sao Mall Phase 2 & 2A but did not disclosed that M/s Hoe Chin Co., Ltd. as Investor as Excalibur Group Singapore did not invest any amount and yet received US$3 Million out of total US$ 8 Million by awarded Right of Development .

C. Pushing away their responsible by asking me to pay for the 10% VAT sales tax.

Upgrading & Redevelopment Vientiane Morning to Talat Sao Mall Project with my initiative, effort, hard works and contribution to have Phase 1 & 2 completed to existing stage; I had notice that Government of Lao do not have much benefits out of the Project but just “City Image”.

I had suggested Hoe Chin Co., Ltd. To put up their request for justice to China Embassy in Lao PDR and I had reported the case to Vientiane Mayor for protection of our Interest and investment.

Master Concession Agreement signed on 13/8/2004 between GOL & Excalibur Group

1. GOL in honest to Agreement that signed with foreign investors would like to keep their reputation; unless necessary; shall not terminate any Agreement on their side unless on mutual understanding.

2. This Project was marked as one of the successful project in Celebration of Vientiane 450 Years, image need to be maintenance.

3. Talat Sao Mall as a Singapore Investment in Lao PDR should best to maintain such status.

4. There are few Articles in the MCA need to be amended to reflect some approval or changes that had been approved by Authorities:- VAT 10% impose on Sales Collection of commercial property- Total Date of completion need to discuss and fix an Agreed Date.- Talat Sao Mall Phase 2 Centre Building instead of 5 storeys shall be changed to 8

storeys.- Talat Sao Mall Phase 3/Link Building & Multi-Storey Car parking Building should be

included in the MCA.-

Resettlement of Traders in existing “L” Block:

Can consider to make use of whole 3rd. Floor of Talat Sao Mall 2 for usage of One Year without Rental but Tenants need to pay Electricity and Maintenance Fee.

My Views and Consideration:

1. Authorities had given Invitation for Excalibur Group to have meeting with Committees to get solution out of the conflict but Excalibur Group failed to do so which Indicated that they do not have Interest with this Project.

2. By Awarded the Project to 3rd. party without Notice or Approval from Counter signing Party.

3. Intentionally delay and unwilling to comply to Tax Payment

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4. Did not Report and avoiding payment of Company Profit Tax5. Did not report and renewal of Tax & Business Licenses for Year 2013 where Company is

currently operate without valid Operation License?

My Suggestion:

Dr. Lawrence Leow is applying delaying tactic and in fact this Project had been stop for 6 Years due to his non-responsible; action should be taken by inviting him to have meeting with Ministry of Planning & Investment to make Excalibur Group withdraw from the Project.

Tax Department should make use of their right to withdraw Cash in all Accounts under Talat Sao Shopping Mall Co., Ltd. for the balance payable VAT 10%. Calculate the Profit Tax and forcing Excalibur Group to make all outstanding taxes payment. To force Developer and solve all matters with counter signing party.

In view that Excalibur Group shown no interest with this Project anymore and Hoe Chin Co., Ltd. short of Resource and Capability and also prevent Hoe Chin Co., Ltd. to re-sell the Project to another Company that will cause more complication, to ensure; resumes and complete the Project soon, I would recommend 3rd. party taking over without Terminate Master Concession Agreement should be the best way out. Construction of Phase of Link Block and car park building only need 12 months. Information provided to my best knowledge under the request of Special Committee set up by Vientiane Mayor.

Action:

My sincere request that Yours Excellency can take immediate action to assist to overcome the difficulty situation facing by all involved:

A. Traders in Mall 1 do not have sufficient profit for payment of Rental/Installment/Business Tax/Maintenance Fee and Electricity under poor and Profit Oriented Management style.

B. Protect the interest of Traders on their right in Talat Sao Mall 2 and avoiding Legal or illegal enforce or enlargement of conflicts between Developer and Contractor.

C. Ensuring Tax income and recover/collect Taxes that Government entitled for State Budget stably. Moreover Developer has not declared their Profit over Investment to GOL. Developer can easily contribute to State Budget not less than USD3 millions per year after total completion of project.

D. Shop Units in Talat Sao Mall 2 with initial Yearly Rental of US$10,000/= per Unit had been lower to as low as US$1,000/= per Unit last month. Many Units still empty and income insufficient for expenses which I have to finance the loss per month to few hundred million LAK.

Talat Sao Mall 2 currently under the Management of Mr. Khamphor KEOMYKHOM and hopefully can be maintenance till the conflict dissolved. Excalibur does not responsible for any losses incurred since in operation, I am financing all the losses and to be fair for me, either

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Developer or Contractor will have to responsible to pay back all operation losses before taking over the Management of Talat Sao Mall 2.

In view with fact that Excalibur Group had committed 6 offences:

A. Awarded project to 3rd. Party without Approval from GOLB. Intentionally delay and unwilling to comply to Tax PaymentC. Did not report and avoiding payment of Company Profit Tax to GOLD. Did not report and renewal of Business Tax License for Year 2013 where Company is

currently operate without valid Operation License?E. Intentionally delay and dishonest by holding and not transfer the right as agreed of Talat

Sao Mall 2 to M/s Hoa Chin Co., Ltd. which also cause damage to the City Image of completed the whole Project in time for GOL.

F. Charge me on Criminal Offences after I rejected to help them to swindle M/s Hoa Chin Co., Ltd.

I am always and willingly to be witness and providing information to assist the Committee in dissolve the conflict peacefully and transfer of management smoothly.

Re: Vientiane People’s Court Hearing on 27/7/2017 and 4/8/2017.

Koo Chin Heng’s nick name is Lewis, people used to call him Lewis Koo came to Laos in July 1992. Initially as Procurement Agent for Best Western Beverdere hotel, a Hotel Development Project that invested by Guthrie GTS Singapore, responsible to provide all supplies like: Foods, Beverages, utensils etc… The Hotel was officially opened on 18 December 1992.

In year 1999, together with Tan Meng Liang, Richard Heng, we had entered joint venture with Udon KEODOUANGDY and Bounheuane Thammavongsa based on 50% - 50% Laos-Singapore cooperation to build “Champasak Shopping Center” at the site of old market in center of Pakxé City after burnt in fire. While the construction works were proceeding on second floor of the building, we had discovered that Udon KEODOUANGDY being president of joint venture company had silently accepted booking fee without our noticed to sell shops in under construction shopping center accumulated to about USD440,000. Project was then stopped for arbitration; after failed was proceed to court settlement.

During that period we had decided to look for new investor to take over the whole project therefore Dr. Lawrence Leow was in the picture as Tan Meng Liang used to be his Consultancy Engineer for his project in Singapore.Dr. Lawrence Leow visited Champasak Shopping Center but Showed No Interest on the project. During his return, he had stopped in Vientiane and wanted to take up “Up-grading and Re-development of Vientiane Morning Market”.

For Champasak Shopping Center Project we had decided to give up as Prime Minister of Laos had stepped in to help Udon KEODOUANGDY by using Loan provided by Banque Pour Le Commerce Exterieur Lao (BCEL) to continue the project by himself.

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Under the request of Tan Meng Liang I started to move on my way to secure the

“Morning Market Project”. Mr. Bounheuang Douangphachanh, Mayor of Vientiane was invited and led a High Ranking Official Delegation to understand Excalibur Group, Commercial and City Development of Singapore. After study all information and proposals provided by many interested investors, Government of Lao PDR had decided to aware the “Up-grading and Re-development of existing Vientiane Morning Market into modern Shopping Mall Project” to Excalibur Group Singapore with Master Concession Agreement was signed on 13 August 2004. Thereafter “Talat Sao Shopping Mall Co. Ltd” was established in year 2005 to undertake the project.

A. Koo Chin Heng was appointed as Director of Administration and Marketing working under the Presidential-ship of Tan Meng Liang. Initial Letter of Employment valid for 2 years with renewal automatically; Tan Meng Liang had issued a Letter of Certification and Confirmation dated 20 November 2007 filed to Government of Singapore and Lao PDR. Witness the appointment.

Koo Chin Heng received monthly salary of USD1,300 with payment by check signed by Dr. Lawrence Leow and Tan Meng Liang through Public Bank Vientiane branch payable under account of Talat Sao Shopping Mall Co., Ltd.

B. I cannot allow M/S Hoe Chin Aluminum & Glass Renovation Co., Ltd. to be swindled by Lawrence Leow as what he used to do in Singapore. I have to protect the contractor that recommended by me for this project.

Hold the legal suit in Laos and dissolve under the Laws of Laos. Note that the Contract and Agreement involved in the construction of Talat Sao Mall 2 were signed in Singapore under the laws of Singapore where Excalibur Group can win the case easily.Thereafter Zhang Xian Ming, Xu Jikuo and Yan Woo Pia had engaged Gangsters to protect 5th floor office confronted with staff of Lam Kin Yee so as to block them from taken over the control and management of Mall 2.

Anywhere I continue to manage Talat Sao Mall 2 under the name of Talat Sao Shopping Mall Co., Ltd. till my detention on 10 February 2016.

Company’s Stamp.

With no argument of People’s Court that mentioned that the Company’s Stamps were sent from Singapore. Under the Laws of Lao PDR, whoever using the Stamps that not officially issued by Authority, all users were committed criminal offence. Therefore be sided Koo Chin Heng the following persons also had committed similar offences:

Tan Meng Liang and Richard Heng both had used the Stamps to submit building drawings to Vientiane Public Works Office to get construction permitted.

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Zhang Xia Ming, Xu Ji Guo and Yan Wen Pia had used the Stamps on all importation tax declaration documents when they imported building material from China at Boten International Customs Office.

Dishonest of Fund.

- Hua Xin Development Co., Ltd was established in mid year 2012 have no connection to this project or suit case. I had raised his issue in Court requested Vientiane Prosecutors’ Office to consider to change Plantiff2 to M/S Hoe Chin Aluminum and Glass Renovation Co., Ltd. as all Contracts, Agreements related to the construction, loan and sales were during the period of year 2009 to year 2011 under M/S Hoe Chin Aluminum and Glass Renovation Co., Ltd. and not Hua Xin Development Co., Ltd. where Koo Chin Heng was accused to involve. Evidences to prove that such accusation should be void.

- Zhang Xia Ming does not have house of his own in China and Laos Xu Ji Guo only have a rental apartment in Sanjiang Shopping Complex, Yan Wen Pia stay in Brick Factory where he only one of share holders, 3 of them do not have huge business that can earn million dollars yearly how can they have USD 39 millions to pay for construction cost of Talat Sao Mall 2. Moreover 3 of them got low education, do not understand English, read construction drawings and no knowledge on building construction.

- Investigation Policemen had witness and recorded in statement that written acknowledgement by Yan Wen Pia received one lot of document which included Invoices, Bills, payment Vouchers, that handover by Koo Chin Heng for then to audit the amount of monies that Koo Chin Heng had spent on the purchase of building material, plants, equipment and payment of workmanship, estimated amount of USD22 millions.

- In view of short notice just limited suppliers and sub-contractors had presented in person to this Court to give witnesses, although just a few but already proven that M/S Hoe Chin Aluminum and Glass Renovation Co., Ltd. is not the 100% Sole Investor for construction of Mall 2 cannot ignore the present of Koo Chin Heng, moreover they are contractor under agreement, elevators, Escalators and Travelators were purchased after Koo Chin Heng had many trips of factory visit, before acknowledgement and acceptance by Excalibur Group as one of the conditions written in Contract Agreement “Siemen” and Eita Schneider” both are Germany Technology.

- All steel bars that imported had subjected to quality test by Ministry of Technology. Koo Chin Heng has 3 suppliers for Steel Bars therefore locations of usage of different brands were recorded. All Steel Bar carried with marking: SD40 mean quality; DB20/25/32 mean sizes of steel bars besides every manufacturer put their marking on each steel bar. Note that supplier like BRP only supply their steel bars to Thailand Government Projects; with special arrangement Koo Chin Heng had purchased BRP Steel Bars for used in Talat Sao Mall 2 construction, the only non-Thai Government project in Laos.

- Phenolic Panels with outer layer using color steel sheet for protection were used for construction of Air-conditioning Ducting. The only building using such material with

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knowledge of Koo Chin Heng. Therefore the manufacturer had sent 3 technicians to train my staff at site before they ended up as sub-contractor for ducting works. The advantages of using Phenolic Insulation Panels – Environmental Green, Easy Assembly, re-usable, easy replacement and last for 20 years. When Hua Xin Development Co., Ltd. constructed additional shops at zone B – C on 2nd floor of Mall 2 in year 2016 they have to use traditional Zinc Ducts had shown that Talat Sao Mall 2 was not built by them.

All the above 6 points mentioned only partial evidences to prove and either M/S Hoe Chin Aluminum and Glass Renovation Co., Ltd. or Hua Xin Development Co., Ltd. can deny that Koo Chin Heng was the one who put up purchase orders, arrange transport, shipment, import and payment for majority building material, plants, equipment. Zhang Xia Ming, Xu Ji Guo and Yan Wen Pia not even know who were the real manufacturers, suppliers for all the mentioned.

Letters that sent to Leaders or spoken up in the Court hearings, Koo Chin Heng had clearly stated that he had used his own fund of USD2 millions, Madame Bouachan had provided USD3.5 millions and loan from Xaypanya USD2 millions formed partial fund from Koo Chin Heng plus sales collections from shops in Talat Sao Mall 2 to form another important part of fund to build the existing Talat Sao Mall 2.

The selling prices of all shops in Mall 2 procedures of sales, all loans arrangement with Lao-Viet Bank wee mutual co-operation, joint effort between Koo Chin Heng, Zhang Xia Ming, Xu Ji Guo and Yan Wen Biao which were shown in the payments of workmanship to contractors for superstructure; issued Letter of Credits to purchase building materials and equipment no one can deny that shops on 1st floor and ground floor were given to Zhang Xia Ming, Xu Ji Guo and Yan Wen Pia. Where most of the units given were sold to 3rd party and only Xu Ji Guo still left one unit B#01-51B collecting rental; Yan Wen Pia still got many units on ground floor collecting rentals, eg: B#G-02, B#G-03, B#G-04, B#G-05, B#G-34, B#G-35, B#G-65, B#G-66, B#G-77 and B#G-78.

Mr. Richard Heng, architect stationed at site of Mall 2 had signed a letter of evidence to prove that Talat Sao mall 2 was funded and built by Koo Chin Heng and M/S Hoe Chin Aluminum and Glass Renovation Co., Ltd. only named as main contractor.

Project needs new Investor or Developer. In May and July 2015 separate occasions I had meeting in Singapore with Dr. Lawrence Leow, Tan Meng Liang and Richard Kho regarding my proposal to purchase the whole project from Excalibur Group as I had supported by Lao-France Bank with USD25 millions for total takeover, Excalibur Group requested for USD8 millions on top I have to pay for Legal fee for both sides, settlement of Talat Sao Shopping Mall’s accounts and tax payment I had agreed to their request and authorized my lawyer to work on accordingly. I also informed them that I have to pay USD13.8 millions to Hoe Chin Aluminum and Glass Renovation Co., Ltd. The amount work out as such that those empty space from 2nd floor to roof top valued with each party entitled for USD12 millions; After I had signed the Agreement with Vientiane Assets Office I had made arrangement to let Zhang Xia Ming and Yan Wen Pia to get loan of USD500,000 to pay for partial payment of Existing Morning Market U-block taking over fee from S.T. Bank by using the whole 3rd floor of Mall 2 as security plus after given shops to 3 of them, there still some of balance Investment Capital outstanding. I told all involved that I

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prefer to solve this issue by payment to buy over but not using any underhand method; my motive and intension are sincere, simple and clear; I had put in my Effort, Heart, Love commitment for this project, for the good-well, image of city, for the country and traders that trust me. We need to complete the project fast contribute at least USD3 millions yearly to State Budget, the best mall in Laos, using e-shopping to help all traders to gain good profit and return. We had wasted months, if this project was in my hand I should have completed Phase-3 of Link Block & car park building within 12 months. Anyway I was told that committee had allowed Hua Xin Development Co., Ltd. to partition shops so that they can use the sales collection to build the Phase-2A – Link Building between Mall 1&2. It’s like a big dream as it needs totally USD60 millions to purchase whole project included cost of construction of Phas-3, it need how many years for them to have such mount? Unlike me, I at least 4 bankers willing to support me; why those officers never put State benefits above all yet to damage legal system? I had put up reminders o Leaders if they keep allowing the conflicts to continuous by illegally helping Hua Xin Development Co., Ltd. slowly swindle this project, problems will be prolonging for years which will damage traders, bankers, Sate revenue collection, city image, and might ended in world arbitration. Therefore, to get forth party with capabilities and sound financing to take over the whole project will be the best solution.

Talat Sao Mall funded by Laotian. Investors of Vientiane Center injected more than USD30 millions into Laos. Investment

Company of Vientiane New World injected more than USD60 millions for this project. Lao-ITECC with strong back up from Bangkok Bank, whereas Talat Sao Mall Project with Excalibur Group invested USD1.19 millions. Koo Chin Heng with USD2 millions and Hoe Chin Aluminum and Glass Renovation Co., Ltd. with USD1.5 millions plus some foreigners purchased shop units which made up to around 20% of total cost of construction; the rest 80% were actually funded by Laotian Traders; therefore Talat Sao mall belong to Laotian and Lao Laws should protect them should not allow someone at upper hand make use of weak points of Lao Judicial system to let Zhang Xia Ming, Xu Ji Guo and Yan Wen Pia to swindle Laotian Assets easily with only invested USD1.5 millions. Please note that the judgment on 4/8/2017 not only help them directly on top of that Laotian’s Lands and monies total to USD26 millions as compliment to them what a shameful and stupid judgment.

Claim for damages. Hoa Chin Development Co., Ltd. established in year 2012 only received management right to look after Mall 2 but the Letter dated 21/1/16 from Excalibur Group to Ministry of Planning and Investment was actually refers to Hoe Chin Co., Ltd. or Hoe Chin Aluminum and Glass Renovation Co., Ltd.

Refer to meeting chaired by Director of investment on 17/9/2015, management right effective from 20/1/2016 and therefore whatever matters, accounts, monies, management and maintenance before this date should be accountable between Excalibur Group and Koo Chin Heng. All claims that submitted by Hua Xin Development against me and Mrs. Koo Chin Heng are invalid, not acceptable with no ground of support by Laws.

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Sales Collection of 239 shop units, building material, machinery, equipment and 6,102m2

of commercial space in Talat Sao Mall 2 should be problems between Hoe Chin aluminum and Glass Renovation Co., Ltd. and Mr & Mrs. Koo Chin Heng based on Joint Venture Agreement sighed on 9/5/2009.

All Rental Income, Car parking Fee assessment were partial of operation income together with maintenance fee paid by tenants for management and maintenance of Talat Sao Mall 2.

After completed the construction works, most of the steel support pipes and joint were rented to Sangjiang Shopping Complex for construction of Sanjiang Hotel and Yinan Construction Company to construct new Phase of Vangvieng Cement factory. Concrete pumps were rented out at USD5,000/ per month to Bored Piling Contractor and Yinan construction Company for Vangvieng Cement Factory. All the rental income as mentioned above was collected by Zhang Xia Ming, Xu Ji Guo and Yan Wen Pia. Concrete Pumps after damaged were then stored in my House at Ban Nonghai and most of the steel support pipes were stored in brick factory of Yan Wen Biao only partial were given to sub-contractors for/as partial payment to their outstanding workmanship.

Requests that put up by Koo Chin Heng on hearing date 4/8/2017.

Office on the 5th floor of Talat Sao Mall 2 was sharing use by Koo Chin Heng, Zhang Xia Ming, Xu Ji Guo and Yan Wen Pia where individual partition rooms only one step away handling all construction management financial issues together. Vilayphoune hardly stepped into 5th floor office, her involvement or connection to this project was only being wife of Koo Chin Heng and she followed whatever requests that made by Koo Chin Heng therefore all responsibility belong to Koo Chin Heng.

Under the accounting procedure set up by Excalibur Group since established Talat Sao Shopping Mall Co., Ltd. All expresses occurred in the management of Talat Sao mall were paid by Koo Chin Heng. On the beginning of every month, Koo Chin Heng need to summary all claims on management expenses together with supporting document and sent back to Excalibur Group. All bills, invoices or payment vouchers will subject to approval by Dr. Lawrence Leow even as little as Kip2,000 parking fee. Thereafter checks will be issued with signatures of Dr. Lawrence Leow and tan Meng Liang only then sent back to Koo Chin Heng to process.

There are still large amount of claims pending for refund to Koo Chin Heng by Excalibur Group. Koo Chin Heng request the court to allow his Accounting Manager to take back all material, computer related to the above mentioned claims. The outstanding claims that pending amount to around USD3 millions.

There were donation boxes around Mall 1 and 2, those donated monies collected were kept in one safe in the office room of Madame Vanh, accountant manageress please allow her to open the safe under witness so that she can send the donations to Foundation for Assisting Poor People of Lao PDR.

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I do not know how much was kept in the safe as those works were handled by my staff but when come to big amount of donations or gifts in cash given by traders or tenants to me will be re-donated to Foundation. In the past we used to have donations around one to two hundred millions per year.

The following list with outstanding debts pending payable to sub-contractors and suppliers. Whoever as main-contractor of Talat Sao Mall 2 need to responsible for settlement/payment.

- Phetlayphone Concrete – claims had been submitted to Investigation Policemen.- Mr. Pong – workmanship for wedding works, Roller shutters’ claims had been sent to

Investigation Policemen.- Hongkham Concrete.- Tali – supplier for tiles and granites.- Sounthone – water and plumbing works.- Xu Tong – Phenolic Ducting works.- Li Zersen – steel supporting works plus air-cond ducting hanging works- S-Pac – K.Suriyan for all electrical system- Maenum – Aluminum composite supplier- Nongkhai – Visith – building material and sanitary wares supplier- Wang Zewan and Chou Sin Fong – workmanship for superstructure- Jing Ying – supply and installation of “Siemens” Escalators- J.S. Lim – Supply and Installation of “Tita Schneider Elevators & Travelators- Mr. Wang – Sub-contractor for ceiling works plus shop renovations works- Mtech Consultant & BT Choo Consultant-Architectural, Structure, M&E Design- K.Prasert – workmanship for wiring, control devices installation works.

Judgment on 4/8/2017 still not the final of case, all involved have rights to appeal even till International Arbitration therefore no enforcement or further damages to the project are allowed.

Koo Chin Heng took the opportunities to raise 3 questions for Plantiff2 to answer as those are fundamental where Main Contractor and building management must know for the safety of traders, employee and customers in the building:

Q1. High Voltage Power Supply by EDL to Mall 2 power transformers, where in the power breaker installed so that you can cut off supply when emergency?

Q2. What is the design floor with standing load?

Q3. When cause fire, management have to turn-on “Smoke Exhaust” to draw out smoke in the building at the same time “High Pressure Blower” will inject fresh Pressurized Air into “Fire Safety Lobby & Fire Escape Staircase” where are the switches to turn-on such devices?

Unfortunately, Plantiff2 decided not to answer my questions, possible that theydo not know the answers as this building was not built by them.

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The Court only recorded all points raised by Defender and his Lawyers they ignored even those statements from witness contractors and suppliers given no answers and reflected nothing or real fates as the judgment on 4/8/2017 was pre-prepared where they only have duty to read the judgment statement.

General Information:

Since year 2007, Koo Chin Heng had entered mutual understanding with Public Bank to help traders whom do not have full amount to pay for purchase of shop in Talat Sao Mall.Traders need to pay 50% of amount written in Sales & Purchase Agreement after 50% loan approved by Banker(s) Talat Sao Shopping Mall Co., Ltd. will prepared Certificate Right of Use; then registered the Sales & Purchase Agreement with Ministry of Justice, thereafter s end both document to Vientiane Asset Office for registration and signature upon handover the above documents to Banker(s) in front of traders, balance 50% will be deposited into company’s account by traders to close the loan process.

Talat Sao Mall 2 also follow the same procedure, Sacombank, Lao French Bank, S.T Bank, Lao-Viet Bank same as Public Bank provided loan 50% to many traders who had purchased shops in Mall 2.

Lao-Viet Bank beside provided USD3.3 millions to Madame Vilayphoun to purchase additional shops in mall 2, in year 2012 had given additional loan of Kip7,299 billions to purchase land of size 5,605m2 at Ban Nonghai together with constructed 3 buildings on the plot of land.

Most country in the world had ranking State Debts/Revenue as 1st priority; Bank Loan/Fund as 2nd priority regardless of whatsoever reasons or conditions.Therefore it is right for Court to award the rights of ownership of the 11 shops mortgaged to Lao-Viet Bank for them to cover back their loan.

There were around 50 shops that mortgaged for Loan to different Banks like: ST Bank, Public Bank, Lao-French Bank, Sacom Bank etc… Court and Authorities have to take into careful consideration.

Doubts, Questionable & Arguments.

In the International Judicial System, all document, proves and evidences from both Plantiffs and defenders were transparent and obtainable by both parties; for this case the following documents were not available:

Prove of fund used USD39 millions, whether transfer legally or illegally or Source of Fund locally were not provided by Planfiff2.

Whoever as investor or Contractor to build a building that cost USD39 millions must have Purchase Orders, Sales & Purchase Contracts, Supply contractors, work order to prove that all building material, plants,

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Equipment was purchased, payment made in cash or via banking system; transportation, import document etc… Those supporting document from Hoe Chin Aluminum and Glass Renovation Co., Ltd. were not provided as majority of bills or invoices were contradicted to those provided by sub-contractors, suppliers that witness to Court that Koo Chin Heng was the one who engaged them or purchased from them and payments made by Koo Chin Heng.

On 4/8/2017, Plantiff1 or his Lawyer or Representative did not turn up; Lawyers of Defenders also raised up that Hua Xin Development Co., Ltd. set up in 2012 do not have rights to suit Defenders only Hoe Chin Aluminum and Glass Renovation Co., Ltd. can do so but all points were ignored by Judges. Judgment Statement was read after 20 minutes of Lunch Break with no consideration of whatsoever argument had raised early on!

Those claims that put up by Plantiff2 during Court Hearing on 27/7/2017, Defenders had requested for detail breakdown but was not provided. Anywhere Judges had accepted whatever claims requested by Plantiff2 and was written in the Judgment Statement which causes all Involved Full of Doubts for Judicial System in Lao PDR.

- 239 shops of which shop numbers at what unit prices and how to workout such amount (USD24,111,894)

- Rental Income from which shops for which period? (USD641,500) Kip4,320 millions)- Plants and Equipment without detail information and where is the location after

completed construction of Talat Sao Mall 2? (USD1,126,847.36)- Car Parking Fee referred to during which period, how it workout and who have the right

for such monies? (USD380,000)- Space 6,102m2 without indication of location and sizes? Why Hoa Chin Development

Co., Ltd. have right to charge USD200 per m2 per year?- Some construction material were handover to sub-contractors as partial payment for

example steel supporting pipes and joint were given to owner of Sanjiang Shopping Complex as payment of Loan Interest for some amount of money borrowed by Hoe Chin Aluminum and Glass Renovation Co., Ltd.

- 3 shops were sold to Sub-contractors as payment of workmanship.- The contents of minute of meeting dated 17/9/2015 which chaired by Director of

investment for Excalibur Group and Hoe Chin Aluminum and Glass Renovation Co., Ltd. to negotiate towards mutual understanding for Excalibur Group to award Management Rights for Talat Sao Mall 2 to Hua Xin Development Co., Ltd.A4 size paper dated 20/1/2016 with heading “Certification of Transfer Talat Sao Mall 2” with signatures by 2 parties; Party A-Excalibur Group, Party B-Hua Xin Development Co., Ltd. but why without witness or endorsement by Director of Investment or any Authorities?

- Director; Lawrence Leow Chin Hin on 21/1/2016 issued Letter to Investment Promotion Department further stretched that they had appointed “Hoe Chin Co., Ltd.” as managing Agent for Phase 2 (Block B) of Talat Sao Mall but such appointment still under supervision by Jason Lim. Note that “Hoe Chin Co., Ltd.” as referred was company that sighed the Letter of Offer and Award together with Construction Contract with

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companies under Excalibur Group; the said company mean Hoe Chin Aluminum and Glass Renovation Co., Ltd. But not Hua Chin Development Co., Ltd.

- Koo Chin Heng had pointed out on 4/8/2017 during the Court hearing that we have big doubts about such document as No Consideration involved therefore such “Paper” cannot be Legal Binding and should be In-valid.

- Why the above document/paper so confidential and was given to my Lawyer on 3/8/2017.

- Why Department of investment did not invite Koo Chin Heng to present for such meeting to seek overall solution for conflicts? Detention and Law Suits always be the last resource of settlement of whatever conflicts? Why all involved never take State Revenue and Hardship of traders into priority consideration?

- One side pre-decided case that leaded to judgment in favor of Plantiff2:

- All requests and accusation by Plantiff2 were almost fulfilled blindly but all facts and evidences points raised by Defender were ignored.

- Koo Chin Heng was escorted by Investigation Policemen on 10/2/2016 to Phontong International Prison without Detention Order although they only have rights for 48 hours.

- Why must seal all document in office and house of Koo Chin Heng but Zhang Xia Ming, Xu Ji Guo and Yan Wen Pia can access to all information?

- Why not allow Koo Chin Heng to Bill out to fight for the case and People’s Court have to impose USD10 millions. The historical amount for Koo Chin Heng to allow to bill out even Singapore Embassy had issued Letter of Warranty on behalf of Koo Chin Heng family?

- Under the Laws of Laos; 2 related cases when judgment to consider one that have Highest in Jail Term. Why must Koo Chin Heng be judged to serve fully 6 years in prison?

- In the Prosecution Statement and Judgment Statement like to use Misleading information wordings on Defenders like 5 plots of land and 3 Luxury vehicles and Account in 8 banks which given impression that above mentioned should value of multimillions Dollars but actually Lands 330m2, 760m2, 995m2, 804m2 whereas 3 vehicles had been used for more than 5 years and 8 banks’ accounts added together only less than USD10,000 estimated total value for the above were less than USD500,000.

- Prime Minister of Lao PDR had announced looking into justice of Judicial System in Lao PDR, we sincerely looking forwards!

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Court Of Appeal Hearing on 21/12/2017:

Out of expectation, there were around 30 students from School of Laws as Observers in the Court Hearing to witness a good show and having feeling of sense of Judicial System in Laos.

Judges and Prosecution officers had intentionally raised many questions for Plantiff2, officer from Lao-Viet Bank and offender together with their lawyers to answer. Questions:

- What are all the requests sent separately by Planfiff2, too many sets and confusing?- How Plantiff2 come about involved in this project?- Details of Bored Piling works?- Joint Venture Agreement between Planfiff2 and Defenders on 9/5/2009 investment?- Sales & Purchase Agreement for shops with 3 payments and prolonged for more than

a year for Traders to complete 3 payments; with traders moving in & out of office and how can Plantiff2 said that they did not aware that defender had sold the shops and pocketed all the sales collections

- What are the details of plants and equipment that Plantiff2 claimed that were taken and sold away by Defender?

Plantiff2 and their Lawyers cannot answer all the questions accurately raised the judges feel confusing and wasting of times, therefore have to cut short the process.

Representative of Lao-Viet Bank had provided documental prove and statement of real facts.

Lao-Viet Bank had approved a Letter of Credit loan of US$2 millions to the Hoe Chin Aluminum & Glass Renovation Co., Ltd. using Security of Madame Vilayphoon Khotpachim 5 shops in Talat Sao Mall 2. Such arrangement as the Hoe Chin Aluminum & Glass Renovation Co., Ltd. was just a small company cannot get loan of such big amount.

Following years, Madame Vilayphoun Khotpachim added another 6 shops to borrow total USD3.3 millions, help M/S Hoe Chin Aluminum & Glass Renovation Co., Ltd. to pay back their loan. Those balance USD1.3 millions was transferred into account of M/S Hoe Chin Aluminum & Glass Renovation Co., Ltd. account with ANZ Bank. Later, Madame Vilayphoun Khotpachim further received another loan of about USD1 million to purchase and develop plot of land located in Ban Nonghai.

Repayment and interest were paid back by Madame Vilayphoun Khotpachim until their accounts and assets were sealed by Authorities.

Defender and Lawyers had answered and raised many facts in the Court.

- Plantiff2 only can answer to the Court that Bored Piling Works with value more than a million USD. But Defender had informed the Court that Koo Chin Heng as Director of Administration and marketing under Talat Sao Shopping Mall Co., Ltd. engaged M/S Hoe Chin Aluminum & Glass Renovation Co., Ltd. to do the Bored Piling works by contract only but actual work was done by a Thai Company engaged by Koo Chin Heng. Contract value to Hoe Chin Aluminum & Glass Renovation co., Ltd. was

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USD1,305,037.00 and contract value for Siam Bored Piles Co., Ltd. was Thai Baht15,123,500.00 progress payment based on works, Koo Chin Heng collected monies from Yan Wen Pia and traveled to Nong Khai to deposit into contractor’s Bank Account with Bangkok Bank.

- Initially office of Koo Chin Heng was located on 4th Floor of Talat Sao Mall 1 and later moved to 5th floor of Talat Sao Mall 2. During the construction of Mall 2, Plantiff2 and defender 1 using the same site office and after moved to office on 5th Floor of mall 2, office room for Plantiff2 and Defender 1 only with one partition wall in between all using same meeting room too. All sales & purchase, collection of payments, payments to sub-contractors and suppliers were using same office and witness together. It is not reason that Plantiff2 did not aware of what were happened in the same office.

- Contracts, Agreement and Construction works involved in Talat Sao Mall 2 under M/S Hoe Chin Aluminum & Glass Renovation Co., Ltd. or in short as M/S Hoe Chin Co., Ltd. Contracture as Main Contractor and not Developer or investor; therefore they have to work under Talat Sao Shopping Mall Co., Ltd. unless M/S Hoe Chin Co., Ltd. willing to make all purchases locally. Moreover where sub-contractors and Suppliers did not trust them.

- Shops were given to Zhang Xia Ming, Xu Ji Guo and Yan Wen Biao-B#G-02, B#G-03, B#G-04, B#G-05, B#G-06, B#G-07, B#G-08, B#G-26, B#G-28, B#G-31, B#G-32, B#G-33, B#G-34, B#G-35, B#G-65, B#G-66, B#G-77, B#G-78, B#01-44, B#01-51A, B#01-51B most of the shops were sold and still about few units under the name of Yan Wan Pia and Xu Ji Guo still remained for rental. All the areas on upper floors were registered under the names of Zhang Xia Ming, Xu Ji Guo, Yan Wen Pia, Vilayphun Khotpachim and M/S The Mall Co., Ltd. based on mutual agreement by Plantiff2 and Defender 1. In addition, the whole 3rd floor of Talat Sao Mall 2 under Plantiff2 was mortgaged to ST Bank for loan of USD5 millions, but ST Bank only released USD500,000.

- Those steel support pipes & Joints together with 2 sets of concrete pumps were rented out to Sangjiang market, Chinese bored Piles contractor and Vangvieng Cement Plant where rental collected by Plantiff2, 2 units of Bulldozer were using in Yan Wen Pia; Brick Factory. Authorities concerned should investigate for Revenue Taxes and import taxes as all were imported with 1% tax. Therefore Plantiff2 do not right to claim.

- Car parking fee, advertisement fee and shop rentals were partial of building maintenance; therefore Plantiff2 do not have right to claim.

- Koo Chin Heng had put up written statement to show that Mall 2 was built at cost of USD33 millions not included interest cost but Plantiff2 claims that they spent USD39 millions. Defender stated that his own fund USD7 millions plus Plantiff2’s fund of

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almost USD3 millions together with sales collection of USD22.8 millions to build Mall 2. Plantiff2 unable to prove & spent of fund USD39 millions as they claims.

- Sub-contractors and suppliers had submitted proves or presented in Court between 1st to 4th of August 2017 to witness that Defender 1 was the one who engaged them and paid them. Question with doubts that whom and how that Plantiff2 built Talat Sao Mall 2.

- Project was stopped for 6 years, traders had suffered losses; State revenue of more than USD10 millions still pending; this project should be able to contribute to State Revenue for more than USD3 millions per year especially during the past 22 months managed by Plantiff2, shops had been closed for operation. Authorities should look into to help the situation Zhang Xia Ming, Xu Ji Guo & Yean Wen Pia do not have knowledge on building and management. Do not know a word in English even their capability to write Chinese works are limited. How to believe that they build Talat Sao Mall 2? They are thousand of traders in morning market that witness by their own eyes that Defender 1 was the one who built Talat Sal Mall 1 and 2. Plantiff2 do not have support from Banker, even ST Bank provided loan of USD5 millions but allowed them only USD500,000 and stopped whereas Defender 1 was granted USD25 millions supported by Lao French Bank,.

- Land and vehicles under the name of Defender 2 were owned before the project plus shops in Mall 1 but what assets do Plantiff2 had? How to believe that they have fund?

- M/S Hoe Chin Aluminum & Glass Renovation Co., Ltd. with Zhang Xia Ming hold 60% shares, Xu Ji Guo & Yan Wen Pia have not involvement in the company was sold away to 3rd party, thereafter, Zhang Xia Ming made use of the fund from the company to tender for “under ground cable laying project” in China. He had failed and run away from the project with losses due to no technical knowledge on contracted works. He then returned back to Laos to set up Hua Xin Development Co., Ltd. together with Xu Ji Guo and Yan Wen Pia. They started to create problems in Mall 2, interrupted the management and maintenance works handle by Koo Chin Heng who brought them up and protected them; Act as non-human being, even they know very well that they are unable to build Talat Sao Mall 2 without Koo Chin Heng. Those account statement, document that written and workout by Yan Wen Biao to show their injected fund and monies related between all, they just denied totally. Authorities concerned did not investigate further into details that 3 of them had lied to the Court & peoples.

- Statement and letter of certification from Tan Meng Liang, president of Talat Sao Shopping Mall Co., Ltd had shown that Koo Chin Heng as employee till Phase 3 of project and company’s Stamps were sent from Singapore. They have to responsible under the Laws and not Koo Chin Heng.

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Although judgment on the day still in favor of Plantiff2, the whole process had indicated that hidden hand above and interfered the judgment. All present also seen the serious of Lao’s Judicial System.

File:Lews Koo’ USB/Lewis translation/3in1set

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