1. INTRODUCTION

The Board of Directors of TWL Holdings Berhad (“TWL” or “the Company”) is pleased to announce that its 51% owned subsidiary, TWL Medicare Sdn Bhd (“TWL  Medicare”) has  been incorporated.

2. INFORMATION ON FES      

TWL Medicare was incorporated with an issued and paid-up share capital of RM10,000 comprising of Ten Thousand (10,000) ordinary shares. Its intended principal activity is in the medicare, healthcare and pharmaceutical business.

The Directors of TWL Medicare are Dato’ Tan Wei Lian and Ms Tan Lee Chin. The  shareholders of TWL Medicare is as follows ;-

(a) TWL HOLDINGS BERHAD                                  5,100 shares               51%

(b) CHIME RESOURCES SDN BHD                        1,700 shares               17%

(c) ANUAR BIN SAFIAN                                            1,500 shares               15%

(d) LANDASAN SETIA HARMONI SDN BHD           1,200 shares               12%

(e) RAUDHATUL SYAFIQAH                                     500 shares                 5%

3. FINANCIAL EFFECTS

The incorporation will not have any effect on the share capital and shareholding structure of the Company and there will not be any effect on the net assets per share and gearing  of the Company for the financial year ending 30 June 2022.

4. RISK FACTORS

The Board of Directors of TWL is not aware of any risk factors arising from the incorporation.

5. INTERESTS OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED TO THEM

None of the Director and/ or major shareholder of the Company and/ or persons connected to them have any direct or indirect interest .

6. DIRECTOR’S STATEMENT

The Board of Directors of the Company is of the opinion that the incorporation of this new subsidiary is in the best interest of the Company.

7. APPROVALS REQUIRED

The incorporation is not subject to the approval of shareholders of the Company or any relevant authorities.

This announcement is dated 20 June 2022.