The Board of Directors of Inta Bina Group Berhad ("the Company") wishes to announce that the Company had on 12 March 2021, incorporated a 55% owned subsidiary namely IBEE SDN BHD (“IBEE”) as a private company limited by shares under the Companies Act 2016 (“Incorporation”).

IBEE’s proposed business activity is to carry on construction and engineering services in particular to supply, install and maintain elevators, escalators and dumbwaiters.

The Incorporation will not have any material impact on the earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholding of the Company for the financial year ending 31 December 2021.

None of the directors and major shareholders of the Company and its subsidiaries and/or persons connected with them, have any interest, direct or indirect, in the Incorporation.

This announcement is dated 12 March 2021.