The Board of Directors of SMIS wishes to announce that Plaspoint Sdn. Bhd. (“Plaspoint”), a 99.87%-owned subsidiary of Machinery & Industrial Supplies Sdn. Bhd. (“MIS”), which MIS is a wholly-owned subsidiary of the Company, had on 27 August 2024 applied to the Companies Commission of Malaysia (“CCM”) for the striking off of Plaspoint pursuant to Section 550 of the Companies Act 2016 (“Proposed Striking Off”).

Plaspoint had ceased its operation and became dormant since 22 February 2018, and the Proposed Striking Off will reduce the administrative resources and costs to be incurred for maintaining the dormant subsidiary.

The Proposed Striking Off is not expected to have any material effect on the earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholding of the Company and its subsidiaries for the financial year ending 31 December 2024.

None of the Directors, major shareholders of the Company and/or persons connected with them has any interest, whether direct or indirect in the Proposed Striking Off.

This announcement is dated 27 August 2024.