Further to the announcements made on 16 October 2018 and 27 November 2018 on the incorporation of and investment in GUH Electronic (Yancheng) Co., Ltd., a wholly-owned subsidiary in People’s Republic of China (“China”) [“GUH Yancheng”], the Board of Directors of GUH (“Board”) wishes to announce that, after due consideration, the Group will not proceed with the investment in GUH Yancheng and will strike off the company,i.e. GUH Yancheng.

The decision to abort the investment in GUH Yancheng was made following a business review amidst the current subdued economic outlook, uncertain market conditions and recent changes in business environment in China.

This decision will not directly impact any of its operations, and will not have any material effect on the gearing, earning per share and net assets of the Group for the financial year ending 31 December 2019.

The Board, having considered all aspects of the investment in GUH Yancheng, is of opinion that this decision to abort the investment is in the best interest of GUH Group. 

This announcement is dated 27 November 2019.