Singapore extends MSI-AIS maritime tax exemption to 2035

NEW YORK, July 27, 2026 /PRNewswire/ — High-Trend International Group (NASDAQ: HTCO) (“HTCO” or the “Company”), a global maritime logistics company, today announced that its Singapore subsidiaries have received a ten-year extension of the Maritime Sector Incentive—Approved International Shipping Enterprise (MSI-AIS) award, extending the tax exemption period through 2035.

MSI-AIS Award Extension Details

The MSI-AIS award was originally granted to the Company’s Singapore subsidiaries in November 2015 for an initial ten-year period. In November 2025, the award was extended for an additional ten years, commencing on December 1, 2025. Under the MSI-AIS framework, all qualified shipping income derived from the international shipping activities of HTCO’s Singapore subsidiaries is exempt from Singapore income tax for the duration of the award period.

As the Company’s revenues are 100% generated from exempt shipping income under the MSI-AIS program, the extension provides long-term tax certainty and a sustainable competitive cost advantage in the global maritime logistics market. The Singapore statutory corporate income tax rate is 17.0%, meaning the exemption represents a meaningful structural advantage for HTCO’s cost structure and margins.

Strategic Significance

Singapore is one of the world’s premier maritime hubs, and the MSI-AIS award is a cornerstone of the Singapore government’s strategy to maintain its leadership position in international shipping. The extension of HTCO’s award reflects the Company’s continued compliance with the rigorous operational and governance standards required under the program, as well as the Singapore authorities’ confidence in HTCO’s contribution to the maritime sector.

The tax exemption directly benefits HTCO’s bottom line by eliminating corporate income tax on qualified shipping income through 2035, subject to continued satisfaction of applicable conditions. This provides the Company with enhanced cash flow generation capacity, which can be reinvested in fleet expansion, digital infrastructure, and strategic growth initiatives. The long-term nature of the extension also supports HTCO’s financial planning by removing tax-related uncertainty from the Company’s outlook.

Management Commentary

“We believe that the extension of our MSI-AIS award through 2035 is a significant validation of HTCO’s operational excellence and strategic importance to Singapore’s maritime ecosystem. This long-term tax certainty is a genuine competitive advantage. It allows us to price our services competitively while maintaining healthy margins,” stated Mr. Christopher Nixon Cox, HTCO Chairman of the Board.

About High-Trend International Group

High-Trend International Group is a global ocean transportation company with core businesses in international shipping.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of applicable securities laws, including Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as “believe,” “expect,” “anticipate,” “future,” “will,” “intend,” “plan,” “estimate” or similar expressions. Actual results may differ materially from those indicated by these forward-looking statements due to various risks and uncertainties, including but not limited to those detailed in the Company’s filings with the U.S. Securities and Exchange Commission. All information in this press release is as of the date of this release, and the Company undertakes no obligation to update any forward-looking statement, except as required by applicable law.