1. INTRODUCTION

MCE Holdings Berhad (“MCE”) is pleased to announce that its wholly owned subsidiary, Multi-Code Electronics Industries (M) Berhad, had secured contracts to supply various mechanical parts for PERODUA new car models.

(hereinafter referred as the “Projects”).

2. SUMMARY OF THE PROJECTS

The supply of these parts is expected to commence in the 1st quarter of the financial year ending 31 July 2022 for a duration of 6 years. The Projects are expected to generate total revenue of approximately RM10.2 million for MCE Group over the 6 year period whilst the estimated total investment cost is RM0.51 million.

3. DIRECTORS' AND SUBSTANTIAL SHAREHOLDERS' INTERESTS

None of the Directors and/or substantial shareholders' of MCE or persons connected to them has any interests, direct or indirect, in the Projects.

4. FINANCIAL EFFECTS OF THE PROJECTS

The Projects will not have any material impact on the earnings of the MCE Group for the financial year ending 31 July 2021. The Projects are expected to contribute positively to the earnings of the MCE Group over a 6 year period commencing from financial year ending 31 July 2022.

5. DIRECTORS' STATEMENT

The Directors of MCE are of the opinion that the above is in the best interest of the MCE Group.

This announcement is dated 8 March 2021.