<SEC-DOCUMENT>0001213900-24-040999.txt : 20240722
<SEC-HEADER>0001213900-24-040999.hdr.sgml : 20240722
<ACCEPTANCE-DATETIME>20240508214739
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001213900-24-040999
CONFORMED SUBMISSION TYPE:	DRSLTR
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20240508

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PS International Group Ltd.
		CENTRAL INDEX KEY:			0001997201
		STANDARD INDUSTRIAL CLASSIFICATION:	ARRANGEMENT OF TRANSPORTATION OF FREIGHT & CARGO [4731]
		ORGANIZATION NAME:           	01 Energy & Transportation
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DRSLTR

	BUSINESS ADDRESS:	
		STREET 1:		UN. 1002, 10/F, JOIN-IN HANG SING CTR.,
		STREET 2:		#2-16 KWAI FUNG CRESCENT, KWAI CHUNG, NT
		CITY:			HONG KONG
		STATE:			F4
		ZIP:			00000
		BUSINESS PHONE:		85236106828

	MAIL ADDRESS:	
		STREET 1:		UN. 1002, 10/F, JOIN-IN HANG SING CTR.,
		STREET 2:		#2-16 KWAI FUNG CRESCENT, KWAI CHUNG, NT
		CITY:			HONG KONG
		STATE:			F4
		ZIP:			00000
</SEC-HEADER>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 20pt 0pt 0"><IMG SRC="image_001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 20pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 5.4pt; margin-bottom: 0pt">Will
H. Cai</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 5.4pt; margin-bottom: 0pt">+852
3758 1210</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">wcai@cooley.com</P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 20pt 0pt 0">May 8, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 20pt 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>VIA EDGAR</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. Securities and Exchange Commission<BR>
Division of Corporation Finance<BR>
Office of Energy &amp; Transportation<BR>
100 F Street, N.E.<BR>
Washington, D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">Attn:</TD><TD>Mr. Gus Rodriguez<BR>
Mr. Mark Wojciechowski<BR>
Mr. Michael Purcell<BR>
Ms. Karina Dorin</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">Re:</TD><TD><B>PS International Group Ltd.<BR>
Amendment No. 1 to Draft Registration Statement on Form F-4<BR>
Submitted March 19, 2024<BR>
CIK No. 0001997201</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On behalf of our client, PS
International Group Ltd. (the &ldquo;<B><I>Company</I></B>&rdquo;), we are responding to the comments (the &ldquo;<B><I>Comments</I></B>&rdquo;)
of the staff (the &ldquo;<B><I>Staff</I></B>&rdquo;) of the Securities and Exchange Commission (the &ldquo;<B><I>Commission</I></B>&rdquo;)
contained in the letter dated April 2, 2024, relating to the Amendment No. 1 to Draft Registration Statement on Form F-4 (the &ldquo;<B><I>DRS/A</I></B>&rdquo;).
In response to the Comments, the Company has revised the DRS/A and is submitting a revised version of the DRS/A (the &ldquo;<B><I>Revised
DRS/A</I></B>&rdquo;) via EDGAR with this response letter. Page references in this response letter correspond to the page numbers of the
Revised DRS/A. Capitalized terms used but not otherwise defined herein have the meanings set forth in the Revised DRS/A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>The HKSAR as a Different Jurisdiction from
Mainland China and Laws in Force in the HKSAR</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Before addressing the Comments
in detail, the Company respectively advises the Staff that (i) the Hong Kong Special Administrative Region of the PRC (the &ldquo;<B><I>HKSAR</I></B>&rdquo;)
and Mainland China are different jurisdictions, and (ii) PRC laws and regulations in general are not applicable or enforceable in the
HKSAR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The legal system of HKSAR
is based on the rule of law and the independence of the judiciary. Under the principle of &ldquo;one country, two systems,&rdquo; the
HKSAR legal system, which is different from that of Mainland China, is based on the common law, supplemented by statutes. The constitutional
framework for the HKSAR legal system is provided by the Basic Law of the HKSAR (the &ldquo;<B><I>Basic Law</I></B>&rdquo;) enacted by
the National People&rsquo;s Congress of the PRC in accordance with Article 31 of the Constitution of the PRC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><IMG SRC="image_001.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">May 8, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">Page 2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under Article 18 of the Basic
Law, the laws in force in the HKSAR include (i) the Basic Law, (ii) the laws, including but not limited to the common law and the rules
of equity, in force before July 1, 1997, except for any that contravenes the Basic Law or amended by the legislature of the HKSAR, (iii)
laws enacted by the legislature of the HKSAR, and (iv) national laws of the PRC listed in Annex III to the Basic Law as amended from time
to time as applied to the HKSAR (&ldquo;<B><I>Annex III</I></B>&rdquo;)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>1</SUP></FONT>.
Consequently, national laws of the PRC not listed in Annex III, such as the Trial Measures, the Cybersecurity Review Measures, the Securities
Law of the PRC (the &ldquo;<B><I>Securities Law</I></B>&rdquo;), and the Foreign Investment Law of the PRC (the &ldquo;<B><I>Foreign Investment
Law</I></B>&rdquo;), are not applicable or enforceable in the HKSAR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, certain PRC rules
and regulations expressly provide that their applications are limited to PRC domestic companies or otherwise limit their scope of application
to be within the territory of the PRC. Pursuant to Article 89 of the Exit-Entry Administration Law of the PRC, travelling from Mainland
China to the HKSAR would constitute exiting the territory of the PRC. As a result, for the purpose of interpreting relevant laws of the
PRC, terms such as &ldquo;<FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>within the territory of the PRC</I></B></FONT>&rdquo;
and &ldquo;<FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>domestic</I></B></FONT>&rdquo; should be interpreted to include
Mainland China, but not the HKSAR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For example, as disclosed
on pages 35 and 60 of the Revised DRS/A, the Trial Measures regulate direct and indirect overseas securities offering and listing activities
by a &ldquo;<B><I>PRC domestic company</I></B>,&rdquo; which is defined as (i) a joint-stock company incorporated &ldquo;<FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>within
the territory of the PRC</I></B></FONT>,&rdquo; in the context of a direct overseas offering and listing, or (ii) a company whose major
business operations are located &ldquo;<FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>within the territory of the PRC</I></B></FONT>&rdquo;
and satisfying other necessary requirements, in the context of an indirect overseas offering and listing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Similarly, Article 2 of the
Securities Law also explicitly notes that, with limited exceptions, the Securities Law shall apply to the offerings of and trade in stocks,
corporate bonds, depositary receipts, and other securities recognized in accordance with the law by the State Council &ldquo;<FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>within
the territory of the PRC</I></B></FONT>.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Besides, Article 2 of the
Foreign Investment Law also made it clear that foreign investment &ldquo;<FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>in
the territory of the PRC</I></B></FONT>&rdquo; shall be governed by the Foreign Investment Law. In addition, Article 48 of the Regulation
for Implementing the Foreign Investment Law of the PRC (the &ldquo;<FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>Implementing
Regulation</I></B></FONT>&rdquo;) explicitly states that the Foreign Investment Law and the Implementing Regulation shall apply, <I>mutatis
mutandis</I>, to the investment made in Mainland China by investors from the HKSAR and the Macao Special Administrative Region, except
as otherwise provided for by any law or administrative regulation or the provisions issued by the State Council.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based on the above
analysis and as advised by its PRC legal advisor, the Company is of the view that the HKSAR and Mainland China are different
jurisdictions and PRC laws and regulations in general are not applicable or enforceable in the HKSAR. Further, given almost all of
PSI&rsquo;s operations are in the HKSAR, PRC laws and regulations such as the Trial Measures and Cybersecurity Review Measures do
not apply to PSI or its operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Comments are repeated
below in bold and are followed by the Company&rsquo;s responses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%">
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25"></TD><TD STYLE="text-align: left; width: 0.2475in"><SUP>1</SUP></TD><TD STYLE="text-align: justify">As of the date of this response letter, 14 national laws
are included in Annex III, namely: (1) Resolution on the Capital, Calendar, National Anthem and National Flag of the PRC, (2) Resolution
on the National Day of the PRC, (3) Declaration of the Government of the PRC on the Territorial Sea, (4) Nationality Law of the PRC,
(5) Regulations of the PRC Concerning Diplomatic Privileges and Immunities, (6) National Flag Law of the PRC, (7) Regulations Concerning
Consular Privileges and Immunities of the PRC, (8) National Emblem Law of the PRC, (9) Territorial Sea and the Contiguous Zone Law of
the PRC, (10) Garrisoning the Hong Kong Special Administrative Region Law of the PRC, (11) Exclusive Economic Zone and the Continental
Shelf Law of the PRC, (12) Judicial Immunity from Compulsory Measures Concerning the Property of Foreign Central Banks Law of the PRC,
(13) the National Anthem Law of the PRC, and (14) Safeguarding National Security in the Hong Kong Special Administrative Region Law of
the PRC.</TD>
</TR>
</TABLE>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Cooley HK 35th Floor Two Exchange Square 8 Connaught
Place Central Hong Kong</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">T: +852 3758 1200 F:+852 3014 7818 cooley.com</P>

<P STYLE="text-align: center; margin-top: 0pt; font: 10pt Times New Roman, Times, Serif; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 5.4pt; margin-bottom: 0pt">May 8,
2024</P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Page 3</P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Amendment No. 1 to Draft Registration Statement
on Form F-4</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Cover Page</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>1.</B></TD><TD STYLE="text-align: justify"><B>We note your revised disclosure in response to prior comment 4 and reissue it in part. Please revise
to disclose your intentions to distribute earnings or settle amounts. In addition, please expand your disclosure to discuss whether there
are any restrictions or limitations under the laws of BVI or Hong Kong on the distribution of earnings. In that regard, we note your risk
factor disclosure on page 63.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">In response to the
Staff&rsquo;s comment, the Company has revised the disclosure on the cover page and pages 36 and 64 of the Revised DRS/A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Summary of the Proxy Statement/Prospectus
</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Regulatory Matters, page 35</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>2.</B></TD><TD STYLE="text-align: justify"><B>We note your revised disclosure in response to prior comment 13 states that PSI&rsquo;s legal advisor,
Grandall Law Firm (Beijing), is of the opinion that PSI is not required to obtain any licenses, approvals or prior permission from any
PRC governmental authorities. Please file a consent of counsel. In addition, please describe in this section the consequences to you and
your investors if you or your subsidiaries: (i) do not receive or maintain such permissions or approvals, (ii) inadvertently conclude
that such permissions or approvals are not required, or (iii) applicable laws, regulations, or interpretations change and you are required
to obtain such permissions or approvals in the future.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In response to the Staff&rsquo;s comment,
the Company has revised the disclosure on pages 35 and 36 of the DRS/A and filed the consent of Grandall as Exhibit 23.6 to the Revised
DRS/A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Notwithstanding the above, the Company
respectfully refers the Staff to &ldquo;<I>The HKSAR as a Different Jurisdiction from Mainland China and Laws in Force in the HKSAR</I>&rdquo;
above for an analysis on why (i) the HKSAR and Mainland China are different jurisdictions, (ii) PRC laws and regulations in general are
not applicable or enforceable in the HKSAR, and (iii) PRC laws and regulations such as the Trial Measures and Cybersecurity Review Measures,
where permissions or approvals from PRC governmental authorities may be required in connection with a securities offering and listing,
do not apply to PSI or its operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Transfer of Cash to and from the Operating
Subsidiaries, page 36</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>3.</B></TD><TD STYLE="text-align: justify"><B>We reissue prior comment 14 in part. Describe here any restrictions on foreign exchange and your ability
to transfer cash between entities, across borders, and to U.S. investors. In addition, discuss whether there are any restrictions or limitations
under the laws of BVI or Hong Kong on the distribution of earnings, including on your ability to distribute earnings from the company,
including your subsidiaries, to the parent company and U.S. investors.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In response to the Staff&rsquo;s comment,
the Company has revised the disclosure on the cover page, and pages 36 and 64 of the Revised DRS/A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Cooley HK 35th Floor Two Exchange Square 8 Connaught
Place Central Hong Kong</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">T: +852 3758 1200 F:+852 3014 7818 cooley.com</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 5.4pt; margin-bottom: 0pt">May 8,
2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page 4</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Summary of Risk Factor</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Risks Related to Doing Business in the Jurisdictions
in Which PSI&rsquo;s Operating Subsidiaries Operate, page 37</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>4.</B></TD><TD STYLE="text-align: justify"><B>Please revise to include cross-references to the more detailed discussion of each of these risks in
the prospectus.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">In response to the
Staff&rsquo;s comment, the Company has revised the disclosure on pages 37 and 38 of the Revised DRS/A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Our business, financial condition and results
of operations, and/or the value of our ordinary shares..., page 58</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>5.</B></TD><TD STYLE="text-align: justify"><B>We note your revised disclosure in response to prior comment 18 states that the Chinese government
may exert more control over offerings conducted overseas and/or foreign investment in China based issuers. Please revise here and elsewhere
as applicable, including your prospectus cover page, to also acknowledge any risks that the Chinese government may exert more control
over foreign investment in Hong Kong.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">The Company respectfully
advises the Staff that the Chinese government does not currently have direct control over foreign investments in Hong Kong, and the Foreign
Investment Law of the PRC is not applicable or enforceable in Hong Kong. Please refer to &ldquo;<I>The HKSAR as a Different Jurisdiction
from Mainland China and Laws in Force in the HKSAR</I>&rdquo; above for further details.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">The Company has revised
the disclosure on the cover page and pages 38 and 60 of the Revised DRS/A to reflect the above and address the Staff&rsquo;s comment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Risk Factors</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>The Sponsor, AIB&rsquo;s directors, officers,
advisors, and their affiliates may elect to purchase AIB Public Shares prior to the consummation..., page 71</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>6.</B></TD><TD STYLE="text-align: justify"><B>We note your revised disclosure in response to prior comment 12 states that the proxy statement/prospectus
includes a representation that any AIB Ordinary Shares or Public Rights purchased by the Sponsor, AIB&rsquo;s directors, officers, advisors
and their affiliates would not be voted in favor of approving the Business Combination, but we are unable to locate such representation.
Please revise or advise. In addition, please reconcile this disclosure with your disclosure on page 31 and elsewhere that pursuant to
the Insider Letter Agreement, the AIB Initial Shareholders agreed to vote their Founder Shares, Private Shares and any Public Shares purchased
during or after AIB&rsquo;s IPO in favor of the Business Combination.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In response to the Staff&rsquo;s comment,
the Company has revised the disclosure on pages 21, 22, 31, 71, 72, 99 and 100 of the Revised DRS/A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Cooley HK 35th Floor Two Exchange Square 8 Connaught
Place Central Hong Kong</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">T: +852 3758 1200 F:+852 3014 7818 cooley.com</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 5.4pt; margin-bottom: 0pt">May 8,
2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page 5</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>The Amended Pubco Charter designate specific
courts in Cayman Islands and the United States as the exclusive forum for certain litigation, page 93</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>7.</B></TD><TD STYLE="text-align: justify"><B>We note your revised disclosure in response to prior comment 32. Please revise your disclosure to describe
the full scope of the provision. In that regard, we note that the Amended and Restated Articles of Incorporation, included as Annex B,
provide that if the United States District Court for the Southern District of New York lacks subject matter jurisdiction, the state courts
in New York County, New York shall be the exclusive forum within the United States.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">In response to the
Staff&rsquo;s comment, the Company has revised the disclosure on page 94 of the Revised DRS/A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Management&rsquo;s Discussion and Analysis
of Financial Condition and Results of Operations of PSI International Group Ltd., page 197</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>8.</B></TD><TD STYLE="text-align: justify"><B>We reviewed your response to comment 26. The statement in your response that &ldquo;credit losses are
not directly tied to specific operating activities&rdquo; is inconsistent with your footnote disclosure that accounts receivable written-off
are recognized in the statement of operations within operating expenses. You recognized an allowance for expected credit loss of $288,110
in 2020 and $216,138 in 2021 in general and administrative expenses. However, you recognized the reversal of the allowance for expected
credit loss of $561,869 in 2022 in Other income. You also recognized bad debt expense of $99,975 in 2020 and $47,088 in 2021 in general
and administrative expenses. Yet, you recognized Bad debt recovered of $58,957 in 2021 within Other income. Please revise to reclassify
the reversal of the allowance for expected credit losses and bad debt expense recovered within general and administrative expenses, or
tell us why you believe your current presentation is appropriate.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">In response to the
Staff&rsquo;s comment, the Company has revised the disclosure on pages 200, 204, 205, 207, 208 and 209 of the Revised DRS/A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Management of Pubco Following the Business
Combination, page 222</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>9.</B></TD><TD STYLE="text-align: justify"><B>Please file the consent of each director appointee as an exhibit to your proxy/registration statement.
See Rule 438 of the Securities Act.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In response to the Staff&rsquo;s comment,
the Company has filed the consent of each director appointee as Exhibits 99.3 through 99.8.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Annex D, page D-1</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>10.</B></TD><TD STYLE="text-align: justify"><B>We note you have filed a draft Fairness Opinion in response to prior comment 33. Please file the complete
final opinion delivered to the board.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In response to the Staff&rsquo;s comment,
the Company has filed the complete final opinion delivered to the AIB Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Cooley HK 35th Floor Two Exchange Square 8 Connaught
Place Central Hong Kong</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">T: +852 3758 1200 F:+852 3014 7818 cooley.com</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><IMG SRC="image_001.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-right: 5.4pt; margin-bottom: 0pt">May 8,
2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page 6</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Financial Statements</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Note 2 &mdash; Summary of Significant Accounting
Policies </U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Related Party, page F-64</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><B>11.</B></TD><TD STYLE="text-align: justify"><B>We reviewed your response to comment 36. You state in your response that the related party amounts
for the years ended December 31, 2021 and 2022 represented services fee income from provision of logistics and freight handling services
based on a mutually agreed price for each transaction. The mutual agreement of a price for each transaction does not adequately address
our original comment. Please disclose whether related party transactions were carried out on an arm&rsquo;s length basis and were no less
favorable or unfavorable to you than those to unaffiliated third parties. Refer to ASC 850-10-50-5.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">In response to the Staff&rsquo;s comment,
the Company respectfully clarifies that the related party transactions were not conducted on an arm&rsquo;s length basis, as the requisite
conditions of competitive, free-market dealings do not exist. The Company has revised the related party transactions accounting policy
on pages F-40 and F-41 of the Revised DRS/A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Cooley HK 35th Floor Two Exchange Square 8 Connaught
Place Central Hong Kong</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">T: +852 3758 1200 F:+852 3014 7818 cooley.com</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If you have any questions regarding
the response letter, please contact the undersigned by phone at +852-3758-1210 or via e-mail at wcai@cooley.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 60%">&nbsp;</TD>
    <TD STYLE="width: 40%">Very truly yours,</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid">/s/ Will H. Cai</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>Will H. Cai</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">cc:</TD><TD STYLE="text-align: left">Yee Kit Chan, Chairman of the Board and Director, PSI Group Holdings Ltd<BR>
Hok Wai Alex Ko, Chief Executive Officer and Director, PSI Group Holdings Ltd<BR>
Chun Kit Tsui, Chief Financial Officer, PSI Group Holdings Ltd<BR>
Eric Chen, Chief Executive Officer, AIB Acquisition Corporation<BR>
Barry I. Grossman, Esq., Partner, Ellenoff Grossman &amp; Schole LLP<BR>
Jessica Yuan, Esq., Partner, Ellenoff Grossman &amp; Schole LLP</TD></TR></TABLE>

<P STYLE="text-align: center; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>



<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
