For Immediate Release Chaswood Builds On
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FOR IMMEDIATE RELEASE CHASWOOD BUILDS ON SINGAPORE LISTING TO EXPAND ITS “FOODPRINT” IN SOUTH EAST ASIA . Led by industry veteran, Mr. Andrew Reddy, Chaswood has 13 brands including T.G.I. Friday’s (“TGIF”) in Malaysia and Singapore and the Japanese casual dining chain, Ishokuya Watami (“Watami”) in Malaysia . Leverages on Asiasons Capital Group’s (“Asiasons”) expertise and network in the financial sector to grow and expand its chains of restaurants in key markets in South East Asia SINGAPORE, 20 March 2012 – Chaswood Resources Holdings Ltd (“Chaswood” or “Group”), one of the leading multi concept casual dining operators in Malaysia and the exclusive franchisor of TGIF in Malaysia and Singapore and Watami in Malaysia, will begin trading from 9:00AM on 21 March 2012 on the Singapore Exchange Securities Trading Limited (“SGX”) Catalist Board, following the successful completion of its reverse takeover of Asia Silk Holdings Limited. Led by industry veteran, Mr. Andrew Reddy, Managing Director of Chaswood, Chaswood currently has 13 brands and 42 restaurants, cafes and bars, serving up to five million guests annually. The Group reported revenue of RM112.3 million for FY2010, representing a Compounded Annual Growth Rate (“CAGR”) of approximately 23 per cent from FY2008 to FY2010. Apart from holding the exclusive rights for TGIF, Watami and Bulgogi Brothers, it also owns and operates some of Malaysia’s leading food establishments, namely Italiannies, The Apartment Restaurant & Bar, Market Hall Kitchen & Bar, Bedroom, Teh Tarik Place, Baci Italian Café, Republic, Malones Irish Restaurant & Bar and Laundry. In March 2012, the Group entered into a non-binding memorandum of understanding (“MOU”) with Paradise Group Holdings Pte Ltd (“Paradise Group”) for the exclusive right to develop and operate Paradise Dynasty restaurants in Thailand. “It is indeed a joyous and significant milestone for Chaswood and myself for the Group to be listed on the SGX. This milestone not only demonstrates our successes thus far but also signifies the start of our exciting journey to become one of the leading multi concept casual dining operators in South East Asia by 2015,” said Mr. Reddy. Building on this listing, Chaswood has since embarked on a series of expansion plans with the aim to strengthen its regional footprint in existing and new regional markets. This can be seen via the recently secured exclusive rights to develop and operate Bulgogi Brothers, a well-known Korean BBQ restaurant, in Malaysia, Singapore, Thailand and Indonesia. The recently signed MOU with Singapore-based Paradise Group is also part of Chaswood’s robust expansion strategy to enhance its presence beyond Malaysia and Singapore. With Asiasons as one of the major shareholders via Posh Corridor, Chaswood will also seek to leverage on Asiasons network to grow and expand its chain of restaurants in Malaysia and other key markets in South East Asia. Commenting on Asiasons’ role in Chaswood’s expansion, Dato’ Mohammed Azlan Bin Hasim, Non-Executive Chairman of Asiasons said, “We have been assisting Chaswood in the development of its business strategy and will continue to support them through our expertise and network in the financial sector to fortify its presence within the region and ultimately, maximise shareholders’ wealth.” Known consistently as a key player in the food and beverage industry in Malaysia, Chaswood believes that there is potential for further brand expansion and development in this area. “To cater to the increasing consumer demand for different dining concepts, each of our brands bears a hallmark value of distinctive quality food, excellent service, and memorable personalities. This trinity has led the Group to win numerous accolades for our outstanding performance,” said Mr. Reddy. This press release should be read in conjunction with the circular to its shareholders and the offer information statement lodged with the SGX on 30 December 2011 and 12 March 2012 respectively. ### About Chaswood Resources Holdings Ltd The Chaswood Group is one of the leading multi concept casual dining operators in Malaysia and targets to be the one of the leaders in South East Asia by 2015. The unique portfolio of brands is well known consistently as a key player in the food and beverage industry with each of the brands bearing the hallmark value of distinctive quality food, excellent service, and memorable personalities. This trinity has led the Group to win numerous accolades for its outstanding performance. As of March 2012, Chaswood has 13 brands including the American casual dining chain, TGIF in Malaysia and Singapore and the Japanese casual dining chain, Watami in Malaysia. It also owns and operates some of Malaysia’s leading food establishments, namely Italiannies, The Apartment Restaurant & Bar, Market Hall Kitchen & Bar, Bedroom, Teh Tarik Place, Baci Italian Café, Republic, Malones Irish Restaurant & Bar and Laundry. In February 2012, Chaswood secured exclusive rights to develop and operate Bulgogi Brothers, a well-known Korean BBQ restaurant, in Malaysia, Singapore, Thailand and Indonesia. The Group recently signed a non-binding MOU with the Paradise Group for the exclusive right to develop and operate Paradise Dynasty restaurants in Thailand. About Asiasons Capital Group Asiasons Capital Group is an Alternative Asset Investment and Management Group focused on opportunities in Emerging East Asia. The Group is listed on the Main Board of the SGX and has a market capitalisation of about US$150 million as at January 2012. The investment strategy of Asiasons is geographically focused in Emerging East Asia, mainly South East Asia and Greater China while the sector focus is in Consumer and Resources. This strategy has been formulated based on the demographics trends in Emerging East Asia, namely increased consumer spending and urban migration in one of the most populous and youngest populations in the world. Asiasons has a hands-on value creation proposition comprising not just expertise in financial structuring and operational enhancements but also has an in-house creative team specialising in branding, design and new economy strategies spearheaded by multi-award winning Creative Director Darrin Lin, a multi award winning Malaysian who has spent the past 20 years in the creative industry in the USA. These value added competencies combine Asiasons’ regional networking and infrastructure to allow Asiasons to successfully expand its portfolio companies throughout the Asian region. For media enquiries, please contact: Jo-Anne Looi Andrew Low Hill+Knowlton Strategies Hill+Knowlton Strategies Tel: +65 6390 3362 Tel: +65 6390 3364 Mob: +65 82332810 Mob: +65 9658 3441 Email: [email protected] Email: [email protected] This press release has been prepared by the Company, and its contents have been reviewed by the Company’s sponsor, CIMB Bank Berhad, Singapore Branch (the “Sponsor”). It has not been examined or approved by the Exchange and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document. The contact person for the Sponsor is Mr Eric Wong (Director, Corporate Finance), CIMB Bank Berhad, Singapore Branch, 50 Raffles Place #09-01 Singapore Land Tower, Singapore 048623, telephone (65) 6337 5115. .