We refer to the article appearing in The Star, on Tuesday, 17 November 2020.

The Board of Directors of FoundPac Group Berhad (“FPGROUP” or “the Company”) wishes to clarify that FPGROUP is not venture into the Automotive Industry. The proposed automotive critical parts business is merely leverage of FPGROUP’s existing expertise in the design and manufacturing of precision engineering parts produced from aluminium, stainless steel and engineering plastics. This is also in the pipeline of the Company’s efforts in expansion of its end-user customer base by manufacturing products that cater for other end-users such as automotive industry.

This announcement is dated 17 November 2020.