Holding agreements

in Indonesia, the Responsible Entity has entered into Holding Agreements with related companies so that such entities may hold
Club Property for the Responsible Entity. The Responsible Entity has appointed AHC Developments Pte Ltd (Singaporean company) as the custodian for the Indonesian Club property. AHC Developments Pte Ltd has in turn appointed PT APVC Indonesia as its sub custodian. AHC Developments Pte Ltd will remain the Custodian until the lease expires in 2051 or the Responsible Entity terminates the Custodian Agreement. 

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