1.         INTRODUCTION

The Board of Directors of Uni Wall (“Board”) wishes to announce that the Company had on 8 May 2019 through its wholly-owned subsidiary, Uni Wall Architectural Products & Services Sdn. Bhd. (Company No. 481522-K) (“UWAPS”) incorporated Uni Wall Manufacturing Sdn. Bhd. (Company No. 1325684-K) (“Uni Wall Manufacturing”), a new wholly-owned subsidiary in Malaysia under the Companies Act 2016 (hereinafter referred to as “Incorporation”).

2.         INFORMATION ON UNI WALL MANUFACTURING

Uni Wall Manufacturing was incorporated in Malaysia as a private limited company. Uni Wall Manufacturing is wholly-owned by UWAPS with an issued share capital of RM2.00 comprising 2 ordinary shares.

The intended principal activities of Uni Wall Manufacturing is to carry out fabrication and assembly of aluminium, stainless steel, steel and glass architectural products.

3.         RATIONALE OF THE INCORPORATION

The Incorporation is mainly to facilitate the expansion of business activities of Uni Wall and its group of companies (“Group”). 

4.         EFFECTS OF THE INCORPORATION

The Incorporation will not have any effect on the issued share capital and shareholdings of the substantial shareholders of Uni Wall, and is not expected to have any material effect on the earnings per share, net assets per share and gearing of the Group for the financial year ending 31 December 2019.

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

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

6.         STATEMENT BY DIRECTORS

The Board, having considered the rationale and all aspects of the Incorporation, is of the opinion that the Incorporation is in the best interest of the Group.

7.         APPROVAL REQUIRED

The Incorporation is not subject to the approval of the shareholders of the Company or any other regulatory authorities in Malaysia.

This announcement is dated 8 May 2019.