PT.

SINOTRANS CSC INDONESIA

Kawasan CBD Pluit Blok S No. 10, Jl. Pluit Selatan Raya – Jakarta 14440 Indonesia
Telp: (62) 21 66675444 (Hunting), Fax : (62) 21 66675442

Minute of Meeting

10 – 08 – 2018 and 11 – 08 - -2018

SINOTRANS & CSC GROUP A large-scale State-owned enterprise which established in 1950 and
merged with China Merchant Group in 2009. World-wide business in both comprehensive logistics
and shipping. The largest international logistics provider in China. The 2nd largest shipping agency
in China The 3rd shipping company in China.

SINOTRANS (HK) LOGISTICS LTD A wholly-owned subsidiary of SINOTRANS LTD The

predecessor of the company – TOHO Line Shipping Ltd established in 1960. Located in Hong Kong
and radiates to Southeast Asian countries. Provide comprehensive logistics services such as freight
forwarding, shipping agency, shipping, project logistics, contract logistics etc.

We would like to seek for local partner that we can work with to make a joint venture so that we can
achieve a great revenue and great big opportunity for us to become the biggest logistic company in
the world.

In order to do so, we, Sinotras need to find a partner that can boost our local clients or local sales
revenue to as much as 30% (thirty percent) of total from our revenue if that happened Sinotrans and
future partner will become the top 3 Logistic Company in the world.

We, PT. Sinotrans CSC Indonesia consider to do a Joint Venture with PT. HACACA Setio Abadi
and we want to propose:

1. Joint Venture with PT. HACACA Setio Abadi in Freight Forwarding, Contract Logistic, and
Trucking and Transportation

2. Joint Venture with PT. HACACA Setio Abadi in Warehousing (could be rental or Joint
Venture)

3. Joint Venture in all services aspect except Project Logistic.

All the Joint Venture as mentioned above will be divided in shares as follow:

- PT. Sinotrans CSC Indonesia, will having the major share as much as 51% (fifty one percent) of
the total shares.
- PT. HACACA Setio Abadi, will having a total of 49% (forty nine percent) of the total shares.

In order to make this Joint Venture that we propose to be healthy and fair, all the original company
before this Joint Venture happened have to be liquidated (closed down), so all parties will be
focused on just this new company aftermath of the Joint Venture, and to do so all parties will be
eliminate any conflict of interest in the future.

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