WE Holdings Ltd. announced that it has entered into a non-binding term sheet for the proposed acquisition of shares in Dragon Cement Co. Ltd. Under the Term Sheet, the company will purchase 20% of the total issued share capital of Dragon Cement, equivalent to an aggregate consideration of USD 20 million. The company also has the option to purchase an additional 20% of the total issued share capital within three months from the completion of the Proposed Acquisition. With the Proposed Acquisition, the plant's production capacity is targeted to double from 400 to 800 tones a day.

WE Holdings Ltd. reported unaudited group earnings results for the full year ended March 31, 2013. For the year, the company reported revenue of USD 62,517,000 compared to USD 86,266,000 a year ago. Loss from continuing operations was USD 4,181,000 compared to USD 4,452,000 a year ago. Loss before tax from continuing operations was USD 4,181,000 compared to USD 4,427,000 a year ago. Loss from continuing operations, net of tax was USD 4,210,000 compared to USD 4,509,000 a year ago. Loss attributable to equity holders of the company was USD 3,689,000 or 0.72 cents per diluted share compared to USD 4,023,000 or 0.79 cents per diluted share a year ago. Net cash used in operations was USD 2,533,000 compared to net cash generated from operations of USD 4,023,000 a year ago. Purchase of property, plant and equipment was USD 13,000 compared to USD 188,000 a year ago.

The Board of Directors of WE Holdings Ltd. announced the promotion of Mr. Loh Eng Lock Kelvin as the Chief Financial Officer of the company with effect from March 26, 2013. Mr. Kelvin Loh is currently the Vice President of Finance Department cum Joint Company Secretary. The management has considered Mr. Kelvin Loh's contributions and experience, and has recommended his promotion to the Board. The Board, having considered the management's recommendation, has approved his promotion. He will continue to be a Joint Company Secretary.