Widad wishes to announce that the Company had on 24 February 2021 incorporated a wholly-owned subsidiary, namely Widad Master Sdn. Bhd. with an initial share capital of RM1.00 comprising 1 ordinary share.

The intended business activities of Widad Master Sdn. Bhd. is Investment Holding and Management Consultant.

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 2021.

The said incorporation is not subjected 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 incorporation.

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 24 February 2021.