1.       INTRODUCTION

The board of directors (the “Board”) of Pentamaster Corporation Berhad ("PCB" or "the Company") wishes to announce that the Company had on 22 September 2021 incorporated a new wholly-owned subsidiary, Pentamaster InnoTeq Sdn. Bhd. (“PISB”) (the “Incorporation”).

2.       INFORMATION ON PISB

PISB is a private limited company incorporated in Malaysia under the Companies Act 2016 on 22 September 2021 and its principal activity are technology and solution investment and to provide testing solution services.

The share capital of PDSB is RM2 comprising of 2 ordinary shares, all of which are held by PCB.

3.       RATIONALE FOR THE INCORPORATION

The incorporation of PISB is to expand PCB Group’s businesses through investment and acquisition into technology solutions and business applications that are synergistic to the Group.

4.       FINANCIAL EFFECTS

The Incorporation is funded through internally generated funds and it is not expected to have any material effect on the earnings per share, net assets per share and gearing of the Company for the financial year ending 31 December 2021. The Incorporation will not have any effect on the share capital and substantial shareholders’ shareholding of PCB.

5.       APPROVALS REQUIRED

The Incorporation is not subject to the approval of any governmental authorities or the shareholders of PCB. 

6.       INTEREST OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED WITH THEM

Save for Mr. Chuah Choon Bin and Ms. Gan Pei Joo, the directors of PCB who are also the directors of PISB, none of the directors and/or major shareholders of PCB and/or persons connected with them have any interest, whether direct or indirect, in the Incorporation.

7.       DIRECTORS’ STATEMENT

The Board, after taking into consideration all aspects of the Incorporation, is of the opinion that the Incorporation is in the best interests of PCB.

This announcement is dated 23 September 2021.