The Board of Directors of RAMSSOL wishes to announce that the Company had on 28 March 2022 incorporated a wholly-owned subsidiary, namely RAMS Edutech Sdn. Bhd. (“RAMS EDUTECH”) in Malaysia (“the Incorporation”).

The issued and paid-up capital of RAMS EDUTECH is RM20,000.00 (Ringgit Malaysia Twenty Thousand) only divided into 20,000 ordinary shares of RM1.00 each. 

RAMS EDUTECH intends to carry on businesses in relation to Educational Information Technology program and application, internet of things, user interface and user experience, design and support, knowledge process outsourcing and conducting courses and seminars.

The incorporation of RAMS EDUTECH would not have any material effects on RAMSSOL and its subsidiaries’ earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholding for the financial year ending 31 December 2022.

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

Having considered all aspects of the Incorporation, the Board of Directors of RAMSSOL is of the opinion that the Incorporation is in the best interest of RAMSSOL.

This announcement is dated 29 March 2022.