Company announcement: CSC 70:30 JV with M'sia IJMC

The Board of Directors of CSC Holdings Limited (the “Company” or “CSC”) wishes to announce that it has entered into a Shareholders Agreement (“SA”) with IJM Construction Sdn Bhd (“IJMC”) a wholly owned subsidiary of IJM Corporation Berhad (a company listed on the Bursa Malaysia Securities Berhad) to form a joint venture (the “JV Co”) for the purpose of carrying out the business of foundation engineering and other related works in Malaysia and the region.

IJMC has its core business and competencies in civil, building and infrastructure constructions and has a strong and extensive network in Malaysia in relation to its business.

It is the intention of both parties for the JV Co to have an authorised share capital of RM20,000,000 or approximately S$8,700,000 with an initial paid up capital of RM10,000,000
or approximately S$4,350,000. Under the terms of the SA, CSC shall hold 70% of the JV Co while IJMC would hold the remaining 30%.

The completion of the SA is conditional upon the fulfillment of all conditions precedent in the SA and obtaining of all governmental and other approvals and/or consents which may be required in connection with the transactions contemplated.

The formation of the JV Co is not expected to have any material impact on the earnings of the Company for the financial year ending 31 March 2008. The Company intends to fund the investment in the JV Co using its own internal resources.

None of the directors or substantial shareholders of the Company has any interest, direct or indirect, in the SA.

BY ORDER OF THE BOARD
Lee Quang Loong
Company Secretary
Date: 21 December 2007