2019 Third Quarterly Corporate Newsletter

Agritrade Resources hosts Annual General Meeting in Hong Kong

After releasing the 2019 Annual Report on 30

July 2019, Agritrade Resources (the

“Company”) hosted its 2019 Annual General

Meeting (“AGM”) on 29 August 2019 in Hong

Kong to engage with its shareholders, and to

discuss on the Company’s latest business de-

velopments and strategies.

The AGM, attended by the core management

team, including Mr. Ng Say Pek, Chairman

(center left), Mr. Ashok Kumar Sahoo, Chief

Financial Officer & Executive Director

(center right), Mr. Vincent Phen, Independ-

ent Non-Executive Director (far left), and

Mr. Patrick Ting, Financial Controller &

Company Secretary (far right), serves as one

of the Company’s major investor relations

events, where the senior management and

shareholders have a full sit-down and face-to-

face conversation on various subjects, such as

review and approval on both the ordinary and

special resolutions.

Ordinary resolutions passed at the meeting include:

1. To receive and adopt the audited financial statements and the reports of the directors and auditors of the Company for the year ended 31 March 2019.

2. To approve the declaration of a final divi-

dend of HK$0.005 per share for the year

ended 31 March 2019.

3. To re-elect Mr. Ashok Kumar Sahoo and

Ms. Lim Beng Kim, Lulu as executive direc-

tor, and Mr. Terence Chang Xiang Wen as

independent executive director of the Com-

pany.

4. To grant a general mandate to the directors

of the Company for share repurchase.

Mr. Ng Say Pek said,

“We appreciate the val-

uable inputs raised dur-

ing the meeting. In re-

sponse to market chang-

es, Agritrade Resources

will continue to make

suitable adjustment to

our business strategies.

Recently, we have successfully completed two

strategic acquisitions, an Indian power plant in

Chhattisgarh, India; and two coal mining sites

in Shaanxi, China. These accomplishments

reflect our flexibility and quick responsiveness

to the ever-changing industry landscape.

In the future, we will continue to fulfill our

goal in becoming one of the leading vertically

integrated energy solution providers in the in-

dustry to maximize our shareholders’ returns.”

The stated web-link below provides further

details on Agritrade Resources’ performances:

https://www1.hkexnews.hk/listedco/

listconews/sehk/2019/0730/

ltn20190730219.pdf

Why is AGM important?

AGM is an important gov-

ernance process. It ensures

transparency, provides

updates, and empowers

shareholders to raise con-

cerns and vote on a range

of company related busi-

ness affairs and matters.

From the board of direc-

tors’ perspective, the AGM

is an official platform to

interact with shareholders,

and demonstrate the princi-

ples of leadership, effec-

tiveness, accountability

and integrity.

Agritrade Resources Limited 2019 Third Quarterly Corporate Newsletter

News and commentary

Strong Power Sector Growth in India Driven by Coal – a com-mentary by Fitch Solutions Macro Research

Source: Fitch Solutions Macro Research

We expect India’s power and

transmission sector to grow ro-

bustly in the next decade, driven

by continued industrialisation and

population growth.

A large proportion of growth in

the power sector will be driven by

coal-fired developments, but we

also expect significant investments

into the renewables and transmis-

sions sectors, given favourable

government policies and a need to

improve grid infrastructure.

We believe the northern and north

-eastern regions remain bright

spots for investment in power in-

frastructure, which is needed to

address power deficits and strong

demand.

NEW DELHI: India opened its

doors further to foreign direct in-

vestment (FDI), diluting the strin-

gent condition of local sourcing

for single-brand retail, in continu-

ation of measures aimed at reviv-

ing growth.

It also allowed 100% FDI in com-

mercial coal mining and allowed

as much in contract manufacturing

through the automatic route, hop-

ing to attract global vendors

f = Fitch Solutions forecast. Source: National sources, Fitch Solutions

looking to diversify supply chains as the

US and China battle it out in a trade war.

Earlier, the government had issued a noti-

fication allowing 100% FDI in insurance

intermediaries.

Before the latest change, 100% FDI was

permitted only in captive coal mining.

“It has been decided to permit 100% FDI

under automatic route for sale of coal, for

coal mining activities including associat-

ed processing infrastructure,” an official

statement said. Allowing 100% FDI in

commercial coal mining is expected to

draw independent miners, helping raise

investment and output.

To provide clarity on contract manufac-

turing, the Cabinet decided to allow

100% FDI under the automatic route.

There is currently no specific provision

for contract manufacturing in the FDI

policy.

Agritrade Resources

Launches WeChat Official

Account

Agritrade Resources is pleased to

announce the launch of its official

account on WeChat, a popular

social media in Mainland China.

With this convenient and nation-

wide channel, Agritrade Re-

sources can instantly update the

interested parties with its latest

business developments. In addi-

tion, the Company can also utilize

this WeChat platform to enhance

investor relations service in an

interactive way, and thus help

improve information transparency

with the investing public.

Our first WeChat article:

Agritrade Resources successfully

hosts Annual General Meeting in

Hong Kong (“鸿宝资源 2019 年股

东周年大会在香港顺利召开”)

Welcome to follow the Company

by scanning the QR code below

or searching for our WeChat ID

“鸿宝资源” in the WeChat mo-

bile app:

Power and Transmissions Sector to Grow Strongly

India – Energy & Utilities Sector Growth Forecast

India opens door to 100% FDI in commercial mining and related investments

Source: The Economic Times (India)

Coal Generation To Grow Strongly In Next Decade

India – Electricity Generation By Fuel Type, TWh