The following is the announcement made by MPIB to KLSE regarding the
"INCORPORATION OF A WHOLLY-OWNED SUBSIDIARY"
Malaysian Pacific Industries Berhad
("MPIB" or "the Company") writes to inform that it had
incorporated a wholly-owned subsidiary in the People's Republic of China ("PRC")
known as Carsem Semiconductor (Suzhou) Co, Ltd ("CSSC").
MPIB Group plans to expand its semiconductor business into PRC and pursuant to this, CSSC will undertake the business of design, manufacture, assembly and testing of semiconductor devices and electronic components, marketing of such products and provision of related services.
The initial paid in capital in CSSC is USD 1 million.
Save for the approval of Bank Negara Malaysia for the remittance of the said USD1 million to CSSR, the investment is not subject to the approval of any other Malaysian governmental authority nor the approval of the shareholders of the Company.