1.            INTRODUCTION

The Board of Directors of Uni Wall (“Board”) wishes to announce that the Company had on 7 April 2020 incorporated NS Aero City Sdn. Bhd. (Registration No. 202001009978 (1366298-U)) (“NS Aero City”), a new wholly-owned subsidiary in Malaysia under the Companies Act 2016 (hereinafter referred to as “Incorporation”).

2.           INFORMATION ON NS AERO CITY

NS Aero City was incorporated in Malaysia as a private limited company. NS Aero City is wholly-owned by Uni Wall with an issued share capital of RM100.00 comprising 100 ordinary shares.

The intended principal activity of NS Aero City is property development.

3.            RATIONALE OF THE INCORPORATION

The Incorporation is mainly to facilitate the business expansion plans of Uni Wall and its group of companies (“Group”).

4.           EFFECTS OF THE INCORPORATION

The Incorporation will not have any effect on the issued share capital and shareholdings of the substantial shareholders of Uni Wall, and is not expected to have any material effect on the earnings per share, net assets per share and gearing of the Group for the financial year ending 31 December 2020.

5.           INTERESTS OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED WITH THEM

None of the Directors, major shareholders of the Company and/or persons connected with them have any interest, direct or indirect, in the Incorporation.

6.           STATEMENT BY DIRECTORS

The Board, having considered the rationale and all aspects of the Incorporation, is of the opinion that the Incorporation is in the best interest of the Group.

7.           APPROVAL REQUIRED

The Incorporation is not subject to the approval of the shareholders of the Company or any other regulatory authorities in Malaysia.

This announcement is dated 8 April 2020.