Board of Directors of ENEST wishes to announce that the Company had on 9 September 2020 incorporated a wholly-owned subsidiary, namely Enest Swiftlets Sdn. Bhd. (Registration No. 202001026976 [1383296-D]) ("Enest Swiftlets") with an initial share capital of RM1.00 comprising 1 ordinary share.

The intended business activities of Enest Swiftlets are properties investment, trading of raw materials of bird nest, and durian and fruits farm related business.

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 31 December 2020.

The said incorporation is not subject to the approval of the Company’s shareholders.

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 corporation.

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

This announcement is dated 9 September 2020.