About GKEKey Milestones

Compensation for Shortfall in Guaranteed Profits in TNS Ocean Lines (S) Pte Ltd

In view of the guaranteed profit is unlikely to be achieved, the Company and the vendors of TNS Ocean Lines (S) Pte Ltd has entered a settlement agreement where the vendors shall compensate S$360,000 and the transfer of 29,166,667 ordinary shares of the Company to such party that the company appoint. Completion of the compensation has simultaneously taken place on the same month pursuant to the terms set out in the Agreement.

Placement of 100,000,000 New Ordinary Shares

The Group has allotted and issued 100,000,000 new ordinary shares to 3 individuals at a placement price of S$0.07 per share.

Subscription of Shares in TNS Ocean Lines International Private Limited

The Group has executed into a share subscription together with 3 individuals in TNS Ocean Lines International Private Limited (“TNS India”). TNS India is a company incorporated in India and in the business of lashing/unlashing of containers, repairing and maintenance of containers, checking and survey of containers and to do business as transporters in India. TNS India has a registered share capital of Rs 2,500,000 and GKE owns 30% after the subscription.

Divestment of G-Chem Logistics Pte. Ltd.

The Group has entered into a Sale and Purchase Agreement with Kleio One-Solution Pte. Ltd. for the sale of the its entire shareholding in G-Chem Logistics Pte. Ltd. ("G-Chem"), being 1 shares representing 100% of the total share capital of G-Chem for a consideration of S$1. Completion of the Sale has simultaneously taken place on the same month pursuant to the terms set out in the SPA.

Investment in a Ready-Mix Cement Plant in Cenxi City, China

The Group has entered into an agreement with the municipal government of Cenxi City, China in respect of the construction of a new ready-mix cement plant in Longmu village, Cenxi, China. Under this arrangement, the Group is required to invest an estimated amount of RMB48 million for the purpose of constructing the plant.

Investment in a Joint Venture Material Waste Recycling plant in Cenxi, China

The Group, through its wholly owned subsidiary, Wuzhou Xingjian Readymix Co., Ltd, and 2 parties, Dongguan Haoyi Industrial Investment Co., Ltd and Cenxi City Hengyi Investment Co., Ltd has formed a joint venture company, Cenxi Haoyi Recycling Co., Ltd, to construct and operate a new recycling plant to recycle material waste from mining, construction, manufacturing and other related activities in Longmu village in Cenxi City China.

Successful tender of a mining rights from Cangwu County, China

The Group, through its wholly owned subsidiary, Wuzhou Xingjian Readymix Co., Ltd, has successfully been awarded a mining rights for the mining and production of up to 500,000 tonnes per annum of limestone for 9.5 years at a consideration of RMB5.05 million. To monetise this, the Group has formed a strategic joint venture with Canwu County Wanfu Trading Co., Ltd and Wuzhou Xing Zhan Investment Co., Ltd for the mining and production of limestone products.

Divestment of GKE Metal Pte. Ltd.

The Group has entered into a Sale and Purchase Agreement with Hung Lin Holding Ltd. for the sale of the its entire shareholding in GKE Metal Logistics Pte. Ltd., being 521,704 shares representing 49% of the total share capital of GKE Metal for a consideration of US$2,066,000. Completion of the Sale has simultaneously taken place on the same day pursuant to the terms set out in the SPA.

Completion of the divestment of Ocean Latitude Limited

GKE Shipping Limited, a wholly-owned subsidiary of the Company, has completed the divestment of the entre shares of Ocean Latitude.

Proposed divestment of the entire shareholding in Ocean Latitude Limited

GKE Shipping Limited, a wholly-owned subsidiary of the Company, has entered into a Sale and Purchase Agreement with Sunrise Marine Limited for the proposed divestment of the entire shareholding in Ocean Latitude Limited, being 6,840 shares representing 50% of the total share capital of Ocean Latitude for a consideration of US$1,081,511.

Joint Venture with Kleio One-Solution Pte. Ltd.

The Company and G-Chem Logistics Pte. Ltd. has executed an Investment and Shareholders’ Agreement with Kleio One-Solution Pte. Ltd. and Lin Duanliang. The Joint Venture will enable the Group to expand its range of services to develop as a one-stop integrated chemical logistics provider serving both the chemical and pharmaceutical sectors in Singapore.

Change of registered office

The Group has changed its registered office to 39 Benoi Road #06-01 Singapore 627725 following the completion of the construction of 39 Benoi and shifting of the office.

Cessation of holding statement

The substantial shareholders of the Company are no longer in discussions with the potential investor in relation to the possible transaction as they have neither received any update nor formal proposal from the potential investor in relation to the possible transaction for an extended period of time. In this regard, there has been no progress towards finalizing the possible transaction.

Incorporation of a subsidiary – G-Chem Logistics Pte. Ltd.

The Group has incorporated a wholly-owned subsidiary in Singapore with an issued paid up capital of $1.

Holding statement

The Group has announced that it has entered into a Confidentiality and Non-Disclosure Agreement with a potential investor as a step for the potential investor to evaluate the possibility of a transaction relating to the acquisition of shares in the Company.

Striking off of a subsidiary – GKE China Investment Pte. Ltd.

GKE China Investment Pte. Ltd has ceased its operation since 31 May 2016 and the Group has submitted its application with ACRA to strike its name off the Register.

Completion of the acquisition of TNS Ocean Lines (S) Pte. Ltd.

The Group completed the acquisition of 100% stake in TNS Ocean Lines (S) Pte. Ltd., an established operator in port management, for a total consideration of S$9 million comprising cash and shares of GKE.

Binding MOU – Acquisition of TNS Ocean Lines (S) Pte. Ltd.

The Group has entered into a legally binding Memorandum of Understanding with the shareholders of TNS Ocean Lines (S) Pte. Ltd. for the proposed acquisition of 2,416,000 ordinary shares in the capital of TNS. The purchase consideration of the acquisition is S$9 million and will be satisfy in cash and partly ordinary shares in the Company.

Wuzhou Xing Jian Readymix Co., Ltd. obtained its Construction Enterprise Qualification certificate

Wuzhou Xing Jian Readymix Co., Ltd has obtained its Construction Enterprise Qualification certificate from the Ministry of Housing and Urban-Rural Development of the People’s Republic of China. Upon receipt of this certificate, the company is able to commence commercial production.

Striking off of a subsidiary – GKE & Mosheng Pte. Ltd.

GKE & Mosheng has ceased its operation since 1 November 2014 and the Group has submitted its application with ACRA to strike its name off the Register.

Wuzhou Xing Jian Readymix Co., Ltd. obtained its Construction Enterprise Qualification certificate

Wuzhou Xing Jian Readymix Co., Ltd has obtained its Construction Enterprise Qualification certificate from the Ministry of Housing and Urban-Rural Development of the People’s Republic of China. Upon receipt of this certificate, the company is able to commence commercial production.

Completion of proposed disposal of 30 Pioneer Road

The Group has completed the disposal of 30 Pioneer Road and entered into a master lease agreement for the property for a period of 5 years commencing from the date of completion.

Obtained approval for an extension of lease term for 39 Benoi Road

The Group has obtained the official approval from JTC Corporation and the relevant authorities for a further lease extension for 39 Benoi Road to expire on 15 February 2037.

Liquefied gas carrier vessel secured chartering contract

Gas Aries Limited, the wholly-owned subsidiary of the Ocean Latitude Limited, the 50-50 joint venture company which the Group invested in to construct the liquefied gas carrier vessel, has secured a chartering contract at a gross rate of US$33,000 per day. The chartering contract is confirmed for an initial six months from mid-April 2016 with an option to extend for an additional six months.

Restructuring of joint venture and incorporation of Ocean Latitude Limited and Gas Aries Limited

The Group restructured its 50% joint venture with Southwest Maritime Limited and incorporated Ocean Latitude Limited (“Ocean Latitude”) and Gas Aries Limited (“Gas Aries”) for tax efficiency purposes. Gas Aries, a wholly-owned subsidiary of Ocean Latitude, will be principally engaged in the building and chartering of vessels. It will become the registered owner of the liquefied gas carrier vessel.

Commencement of trial production in Wuzhou Xing Jian Readymix Co., Ltd

The Group’s wholly-owned subsidiary, Wuzhou Xing Jian Readymix Co., Ltd which is primarily engaged in the manufacturing and supplying of ready-mix cement products has commenced trial production at its automated ready-mix manufacturing plant based in Wuzhou City, Guangxi Autonomous Region in China.

Acquisition of chemical warehouse cum office located at 7 Kwong Min Road

The Group’s 70% owned subsidiary, Marquis Services Pte Ltd, obtained the option to purchase the chemical warehouse cum office located at 7 Kwong Min Road, for a total purchase price of S$5.4 million.

Completion of acquisition of 70% stake in Marquis Services Pte Ltd

The Group completed the acquisition of 70% stake in Marquis Services Pte Ltd (“Marquis”), an established marine logistics service provider and chemical warehouse operator, for a total consideration of S$2.94 million comprising cash and shares of GKE.

Completion of the construction of liquefied gas carrier vessel

The construction of the 83,000m³ liquefied gas carrier vessel is completed and commences its sea trial.

Divestment of wholly-owned subsidiary, Ever Flourish Development (HK) Co., Ltd

The Group entered into a sale and purchase agreement to divest its wholly-owned subsidiary, Ever Flourish Development (HK) Co., Ltd, which in turn holds a 40% stake in Maoming City Hung Ji Construction Materials Co., Ltd (茂名市宏基建材有限公司), for a sale consideration of RMB15 million.

Sale and leaseback arrangement for property at 30 Pioneer Road

The Group entered into a put and call option agreement with The Trust Company (Asia) Limited in its capacity as trustee of Viva Industrial Real Estate Investment Trust relating to the proposed sale and leaseback for property at 30 Pioneer Road for a consideration of S$45 million.

Streamlining of non-performing operations – GKE Air Logistics Pte. Ltd.

The Group disposed its 60% stake in GKE Air Logistics Pte. Ltd, a company principally involved in the provision of freight forwarding, packing and crating services and other transportation support.

Streamlining of non-performing operations – GKE & Mohseng Pte. Ltd.

The Group acquired the remaining 40% stake in GKE & Mohseng Pte Ltd, a company set up to provide mobile crane rental services, from the joint venture party, and ceased the crane service operations.

Successful tender for land use rights at Wuzhou City, Guangxi Autonomous Region in China

The Group's wholly-owned subsidiary, Wuzhou Xing Jian Readymix Co., Ltd successfully tendered for piece of land of 29,640 square metres at Wuzhou City, Guangxi Autonomous Region in China, with a tender price of RMB7.35 million on 25 July 2014. This piece of land is intended for a cement mixing plant to produce environmental friendly lightweight bricks, building materials and cement products.

Completed construction of three-storey warehouse in Yangshan, Shanghai, China

The Group has through its 65% owned subsidiary, Van der Horst Logistics Limited, completed the construction of three-storey warehouse in Yangshan, Shanghai, the People's Republic of China.

Acquisition of warehouse located at No. 39 Benoi Road

Purchased of the property located at No. 39 Benoi Road through a public auction sale at S$25.6 million which increased the total land area owned by the Group to approximately 112,536 square meters and total built-in area of approximately 65,005 square meters.

Incorporation of Joint Venture Entity - Steadfast (HK) Co., Limited

Steadfast has entered into a shipbuilding contract with China Shipbuilding Trading Company Limited and Jiangnan Shipyard (Group) Co., Ltd to construct a 83,000 CBM gas carrier vessel for a consideration of US$67 million. The vessels is a 53,800 metric ton deadweight liquefied gas carrier under the classification of Lloyd's Register of Shipping.

Acquisition of Ever Flourish Development (HK) Co., Limited

The Group has entered into a Sale and Purchase Agreement to acquire the entire issue and paid up share capital in Ever Flourish Development (HK) Co., Limited at cash consideration amounting to RMB11.77 million. Ever Flourish hold 40% of the issue and paid up share capital of Maoming City Hung Ji Construction Materials Co., Ltd and Moaming owns and operates a factory in 茂名市茂港区七迳镇尼乔炮台岭脚 that produces and manufactures environmental friendly lightweight brick, building materials and cement products.

Acquisition of warehouse located at No. 6 Pioneer Walk

The Group has entered into a Sales and Purchase Agreement for the purchase of the property located at No. 6 Pioneer Walk at S$32 million. With the acquisition, the total land area owned by the Group increased to approximately 84,078 square meters and total built-in area increased to approximately 54,785 square meters.

Incorporation of a wholly-owned subsidiary - Wuzhou Xing Jian Readymix Co., Ltd.

The Group has incorporated a wholly-owned subsidiary, Wuzhou Xin Jian which principally engaged in the business of producing and manufacturing friendly lightweight brick, building materials and cement products.

GKE Freight Pte Ltd, a wholly owned subsidiary of GKE Group has jointly with Mr Yap Kheng Fong incorporated GKE Air Logistics Pte Ltd which will focus in the provision of logistics services primarily to the Aerospace Industry.

Incorporation of Joint Venture Entity - GKE & Mohseng Pte. Ltd.

The Group and Moh Seng Cranes Pte Ltd has jointly incorporated GKE & Mohseng, which principally engaged in the provision of crane services for loading and unloading as well as for building construction. With the joint venture with Moh Seng Cranes Pte Ltd will expand the current range of logistics services and enhance our project logistics capabilities which could be provided to customers, and the Group could strategically develop into a stronger logistics player in the long term.

Change of company name from Van Der Horst Energy Limited to GKE Corporation Limited

The Group has changed it's name from Van Der Horst Energy Limited to GKE Corporation Limited to better reflect the nature of the Group's business and future strategy.

Acquisition of Yangshan Shanghai Land

The Group has entered into a Land use rights agreement relating to the acquisition of a land parcel located at Yangshan Bonded Zone at RMB24.5 million. With the acquisition, the total land area owned by the Group increased to approximately 59,075 square meters.