The Board resolution dated September 16, 2019, the Board of Directors of Sea & Air Freight International approved to contribute capital to set up the following associated companies:

1. New SITC Containers Lines Vietnam Com Ltd:

-       Charter capital:  VND2,335,000,000, equivalent to USD100,000; Of which:

• Sea & Air Freight International contributed VND467,000,000, equivalent to USD20,000, accounting for 20% charter capital.
• SITC Shipping Asia Pte. Limited contributed VND1,868,000,000, equivalent to USD80,000, accounting for 80% charter capital.
• Time for project implementation: 50 years.

2. SITC Bondex Vietnam Logistics Com Ltd:

-       Charter capital: VND12,000,000,000, equivalent to USD513,259; Of which:

• Sea & Air Freight International contributed VND120,000,000, equivalent to USD5,132, accounting for 1% charter capital.
• SITC Logistics Investment Pte. Limited contributed VND4,680,000,000, equivalent to USD200,171, accounting for 39% charter capital.
• Bondex International Logistics (HK) Co., Limited contributed VND7,200,000,000, equivalent to USD307,956, accounting for 60% charter capital.

-       Time for project implementation: 50 years.