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News

TRIM ELECTRONICS (SHENZHEN) CO. LTD., CHINA

The Board of Directors ("the Board") of RH Petrogas Limited (the "Company", and together with its subsidiaries, the "Group") wishes to announce that its indirect wholly-owned subsidiary, Trim Electronics (Shenzhen) Co. Ltd. ("Trim Electronics"), has applied for and obtained approval from the relevant PRC authorities for commencement of voluntary liquidation. Majority of the assets owned by Trim Electronics will be transferred to Trim Technologies (Shenzhen) Co. Ltd. ("Trim Technologies"), an indirect wholly-owned subsidiary of the Company.

After assessing and evaluating the current market conditions of the electonics business, the Board is of the view that it is no longer viable to maintain Trim Electronics. The liquidation of Trim Electronics will consolidate and optimize the usage of the Group's manufacturing activities in Shenzhen into one entity i.e. Trim Technologies.

The total cost of this exercise, including retrenchment and relocation costs, write-offs and other related costs, will be approximately S$104,000 based on prevailing regulatory and market conditions. This will be funded from internal resources and shareholder loans.

The liquidation of Trim Electronics will not have an impact on the consolidated net tangible assets and earnings per share of the Group for the financial year ending 31 December 2009.

None of the Directors or the substantial shareholders of the Company have any interest, direct or indirect, in the above transaction.

BY ORDER OF THE BOARD

Tan Sri Datuk Sir Tiong Hiew King
Executive Chairman
22 December 2009