The Board of Directors of Industronics wishes to announce that the Company has incorporated a wholly-owned subsidiary company in Malaysia known as Great Voyage Berhad (“GVB”) on 14 March 2018.

The initial issued share capital of GVB is RM2.00 comprising of 2 ordinary shares. The intended principal activities of GVB are provision of trading, services and management of automobile and related services.

The incorporation of GVB is funded by internal resources and is not expected to have any material effects on the earnings or net assets of the Company for the financial year ending 31 December 2018.

None of the Directors and to the best knowledge of the Directors, none of the major shareholders or person connected to them has any interest, direct or indirect in the aforesaid incorporation.

This announcement is dated 14 March 2018.