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Statement
| 1.Date of occurrence of the event:2022/03/31
2.Company name:Merchant Energy PTE.Ltd.
3.Relationship to the Company (please enter "head office" or
"subsidiaries"):Subsidiary
4.Reciprocal shareholding ratios:NA
5.Cause of occurrence:
In accordance with the instruction,Jin-Guan-Zheng-Shen-Zi No.1080341298,
issued by FSC on Jan. 9, 2020, as the month end of Nov. 2019, the loan
balance of Merchant to Sunshine Solar, USD 4,700 thousand(about NTD 143,350
thousand), already exceed the limit of individual fund lending NTD 137,132
thousand. The Company should adopt a rectification plan, announce the
implementation status quarterly and report to the board of directors
quarterly,also report the implementation status to the shareholders meeting.
6.Countermeasures:
1.Due to lack of administrative efficiency on local government and climatic
factors, caused the delay on the power plant construction project.
Merchant recognized investment losses resulting in net worth decline. As
a result, the limit of individual fund lending drop down. The loan
balance exceed the limit. Subsidiary already adopt rectification plan,
Sunshine Solar will sell its assets or equity to pay off the loan.
2.As of Mar.31, 2022, the rectification plan does not finish due to the
assets or equity of Sunshine Solar has not sell yet.
7.Any other matters that need to be specified: None.
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