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106 Jalan Rajah #05-96 Rajah Court

Singapore 321106
(hereinafter referred to as “Investor”)



152 Miltonia Close The Shaughnessy
Singapore 768262
(hereinafter referred to as “Director”)



15 Boon Lay Way #02-142 Tradehub 21
Singapore 609966
(hereinafter referred to as “Company”)


Eaglehorn Petroleum Trading Pte Ltd, bearing the registration number of

201840908D with its operating address at 18 Boon Lay Way #02-142 Tradehub 21 Singapore
609966 was incorporated as an exempt private company limited by shares on 05 December
2018. The conditions of repayment to investor are agreed unconditionally between the parties
are as follows: -

1. The director hereby undertakes the responsibility to make full restitution of Two
Million Six Hundred and Fifth Thousand Singapore Dollars (SGD 2,650,000.00) to
the investor with effect from 01 December 2019 (“effective date”).

2. The director hereby permits the Investor to withdraw all the monies in Eaglehorn
Petroleum Trading Pte Ltd’s current accounts bearing no. 588028472301 and
588149286001 which amounts to USD $550,001.32 and SGD $83,643.71
respectively, on the condition that the investor undertakes to pay the sum of SGD
$344,250.00 to Mr Benjamin Tan of Messrs Social Crowd. The remaining balance
after the said payment will be deducted from the final monthly instalment due and
owing to the Investor as in accordance to the schedule of payment enclosed herewith.

3. The repayment will commence from the effective date over a period of 24 months
with monthly payment to be made in accordance to Schedule A.

4. The monthly repayments are to be received by the Investor via Bank Transfer on the
first (01) day of each month, no later than 23:00 (i.e. 11pm).
5. For all payment(s) to the Investor are to be transferred to the following bank account:

Bank name: DBS BANK LTD

Account name: THE CHEW YEN
Account number: 032-54234-4

6. It is agreed that the Director will manage all operations of the Company and such
operations are to be reported to the investor with monthly report to be submitted to the
Investor on each last work day of the month.

7. Upon execution of this Agreement, it is agreed by the Parties that a new operating
bank account will be opened within five (05) days. Such account will be managed
solely by the Director and transactions are to be effected from the new operating bank
account upon successful opening.

8. It is agreed by the Parties that the Investor will benefit from the profits of the
Company’s operation and the Investor is entitled to sixty percent (60%) of the total
new profit generated. Such a profit will be calculated on a monthly basis and will be
issued to the Investor on the last working day of the month.

S/No. Date of Repayment Repayment Amount Balance Amount owing

(SGD) to Investor (SGD)
1. Sunday, 1 December 2019 S$50,000.00
2. Wednesday, 1 January 2020 S$55,000.00
3. Saturday, 1 February 2020
4. Sunday. 1 March 2020
5. Wednesday, 1 April 2020
6. Friday, 1 May 2020
7. Monday, 1 June 2020
8. Wednesday,