Introduction

The Board of Directors of Industronics Berhad wishes to announce that the Company had, on 10 August 2018 entered into a Share Sale Agreement with LOW KWAI SOON (IC No. 570712-08-6135, a Malaysian citizen of full age and residing at Pangsapuri Seri Jati, Block J06-07-13, Jalan Setia Gemilang U13/45C, Seksyen U13, Setia Alam, 40170 Shah Alam, Selangor Darul Ehsan (“the Purchaser”) for the disposal of its entire shareholding of 510,000 ordinary shares representing 51% of the total number of shares issued in Sukitronics Sdn. Bhd. (Company No. 202894-U) (“Sukitronics”) to the Purchaser for a total consideration of RM5,100.00 (Ringgit Malaysia : Five Thousand One Hundred) only.

Information on Sukitronics Sdn. Bhd.

Sukitronics Sdn. Bhd. (Company No. 202894-U) (“Sukitronics”), having its Registered Office at Suite 18.06, 18th Floor, Wisma Zelan, No. 1 Jalan Tasik Permaisuri 2, Bandar Tun Razak, 56000 Kuala Lumpur, Wilayah Persekutuan KL, was incorporated in Malaysia on 5th October 1990 as a private limited company. The issued share capital of Sukitronics is RM1,000,000.00 (Ringgit Malaysia : One Million) consisting of 1,000,000 ordinary shares.

Financial Effects 

The Disposal is not expected to have any material effect on the earnings and net assets of the Company for the financial year ending 31 December 2018.

Interests of Directors, Major Shareholders and/or Persons Connected to them

None of the Directors, major shareholders of the Company and/or persons connected to them have any interest, either direct or indirect, in the above-mentioned Disposal.

This announcement is dated 10 August 2018.