The Board of Directors of Scorpio East Holdings Ltd. announced that the Group has obtained new bank facilities from Malayan Bank Berhad. The Group has, through Scorpio East Properties Pte. Ltd., a direct wholly-owned subsidiary of the company, obtained a new term loan facility of SGD 5,000,000, repayable over 14 years from the date of first drawdown, and a blanket hire purchase facility with a limit of SGD 2,000,000, with a tenure of up to 4 years. The purpose for obtaining the facilities is to enable the Group to invest in movie titles, acquisition of new video distribution labels, acquisition of new businesses as and when the opportunities arise and also for the company's working capital requirements. In addition, the facilities will enable the Group to invest at a later stage, in related fixed assets in order to meet JTC Corporation's minimum Building Investment criteria so as to obtain the maximum lease of 60 years for the Group's property at 25 Tai Seng Avenue. The new term loan is secured by: an existing assignment of a mortgage over the Group's Property; an assignment of insurance proceeds and rights in relation to the Property and a fresh continuing corporate guarantee for all monies by the company. The new term loan of SGD 5,000,000 has been fully drawn down on December 17, 2012. In addition, the Group has, through Scorpio East Entertainment Pte. Ltd., a direct wholly-owned subsidiary of the company, procured an increase in the banker's guarantee facility limit from SGD 500,000 to SGD 1,250,000. The increase in the banker's guarantee is secured by an; existing assignment of a mortgage over the Property, and a fresh continuing corporate guarantee for all monies by the company.

Scorpio East Holdings Ltd. reported unaudited consolidated earnings results for the half year ended October 31, 2012. For the period, the company reported revenues of SGD 3,499,000 compared to SGD 3,543,000 a year ago. Loss before income tax was SGD 273,000 compared to SGD 682,000 a year ago. Loss for the period was SGD 273,000 compared to SGD 749,000 a year ago. Loss attributable to the owners of the company was SGD 257,000 or 0.20 cents per basic and fully diluted share compared to SGD 753,000 or 0.60 cents per basic and fully diluted share a year ago. Net cash used in operating activities were SGD 736,000 compared to SGD 234,000 a year ago. Purchases of property, plant and equipment were SGD 33,000 compared to SGD 1,000 a year ago. Net asset value per ordinary share based on existing issued share capital as at end of the period reported on October 31, 2012 was 7.90 cents against 8.38 cents as on April 30, 2012. Purchase of intangible assets was SGD 43,000 against SGD 91,000 a year ago. On parent basis, net asset value per ordinary share based on existing issued share capital as at end of the period reported on October 31, 2012 was 6.55 cents against 6.38 cents on April 30, 2012.

The Board of Directors of Scorpio East Holdings Ltd. announced that Scorpio East Entertainment Pte. Ltd., had received written notice from Universal Pictures International Entertainment ("UPIE") that the company's tender for the license for the home video distribution of UPIE's content in Singapore from October 1, 2012 to September 30, 2013 was unsuccessful and the term of the UPIE Licence will not be extended. The Group distributes home video releases of new release titles, catalogue, special interest and other content from UPIE pursuant to an exclusive licence agreement which has expired on September 30, 2012.