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Clarification of the news appeared on Thai and foreign media regarding the legal proceeding of our subsidiary in Singapore to Cambodian Court

25 Apr 2019

On 12 April 2019 and 23 April 2019 the following articles from 'Asia Sentinel' were released, following by Thai media releases and official disclosures in Japan:

(https://www.asiasentinel.com/econ-business/jtrust-officials-threatened-cambodia-arrests/)

http://www.wedge-hd.com/en/IR/file/p20190422e.html

https://www.jt-corp.co.jp/eng/2019/04/23/21750/?t=en

https://www.mitihoon.com/2019/04/22/107301

Group Lease PCL. (GL PCL) would like to clarify the situation as follows:

Group Lease Holdings PTE.LTD. (GLH), a 100% owned subsidiary of Group Lease PCL has filed a complaint to the Office of the Prosecutor of Phnom Penh in Cambodia against Mr. Nobuyoshi Fujisawa, a director of JTrust Asia Pte. Ltd (JTA) which is a Singapore subsidiary of J Trust Co., Mr. Nobiru Adachi, an employee that handles legal matters for JTA, and Mr. Gwynn David Nevill Hopkins, President of Saronic Holding Ltd,.

It is alleged that Mr. Nobuyoshi Fujisawa, Mr. Nobiru Adachi, and Mr. Gwynn David Nevill Hopkins with the help of Mr. Tep Rithivit, a Cambodian national, conspired to defraud Pacific Opportunities Holdings S a r l (POH) by obtaining 100% of POH and after taking control, ceased the operations of the two other companies under the umbrella of POH.

These two companies are borrowers of GLH and as a consequence, they and GLH have been impacted by these alleged acts.

The Public Prosecutor Office of Cambodia reviewed the relevant information and filed criminal charges against these four individuals, as these alleged actions constitute the crime of fraud in Phnom Penh. The judicial proceeding is ongoing and currently the Cambodian Public Prosecutors Office is asking the court to take these four individuals under supervision of the court.

GL PCL will carefully follow the case and will cooperate with the court and the Office of the Public Prosecutor of Phnom Penh. If there is any progress, we will update shortly.