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Transfer of accounts receivable to subsidiary and capital increases in subsidiaries

On July 18, 2018, Company transferred the accounts receivable convertible into MyRepublic Group Limited shares amounting Rp 26,840,577,348 (equivalent to SGD 2,540,278) to PT Innovate Mas Utama, Company’s indirect subsidiary.

On July 19, 2018, Company’s subsidiaries have effectively increased its issued and paid up capital as follows: