The Board of Directors of MMAG Holdings Berhad (the "Company") wishes to announce that the Company's wholly-owned subsidiary, LINE CLEAR EXPRESS & LOGISTICS SDN. BHD. has on today, 25th November 2019 incorporated a wholly-owned subsidiary, LINE HAUL SDN. BHD. ("LINE HAUL") with an initial share capital of RM2.00 comprising 2 ordinary shares.

LINE HAUL is principally engaged in Business Transportation, Haulage and Freight Consolidators.

The said incorporation is not expected to have any material impact on the earnings per share, net assets per share, share capital and substantial shareholders' shareholdings of the Company for the financial year ending 31st March 2020.

None of the directors and/or major shareholders of the Company and/or persons connected with them have any interest, whether direct or indirect, in the said incorporation.

The Board of Directors of the Comapny is of the opinion that the said incorporation is in the best interest of the Company. 

This announcement is dated 25th November 2019.