INTRODUCTION

The Board of Directors of MESTRON (“Board”) wishes to announce that the Company had on 4 March 2021, incorporated MESTRON ENERGY SDN. BHD. [Registration No. 202101007762 (1408061-X)] (“Mestron Energy”) (“the Incorporation”).

INFORMATION OF MESTRON ENERGY

Mestron Energy was incorporated on 4 March 2021 and is wholly-owned by MESTRON. The Directors of Mestron Energy are Mr Por Teong Eng and Mr Loon Chin Seng and the issued capital is RM2,000 comprising 2,000 ordinary shares.

The intended principal activities of Mestron Energy are to carry on development and/or operation of renewable energy, solar and other renewable energy projects, and investment holding.

RATIONALE OF THE INCORPORATION

The Incorporation is mainly to facilitate the expansion of the business activities of MESTRON and its subsidiaries (“the Group”).

FINANCIAL EFFECTS

The Incorporation will not have any material effect on the issued capital of the Company and the substantial shareholders’ shareholding. The Incorporation is not expected to have any material effect on earnings per share nor net assets per share of the Group for the financial year ending 31 December 2021.

INTERESTS OF DIRECTORS AND/OR MAJOR SHAREHOLDERS AND/OR PERSON CONNECTED TO THEM

None of the Directors and/or Major Shareholders of the Company and/or persons connected with Directors and/or Major Shareholders, have any interest in the Incorporation. except for Mr Por Teong Eng and Mr Loon Chin Seng, the Directors of MESTRON, who are also the Directors of Mestron Energy.

STATEMENT BY BOARD OF DIRECTORS

The Board of the Company, 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.

This announcement is dated 5 March 2021.