The Board of Directors of TIEN WAH PRESS HOLDINGS BERHAD announced that Alliance Print Technologies Co., Ltd. had on 15 January 2024 entered into a Joint Venture Agreement with Cat Loi Joint Stock Company for the establishment of a joint venture company in Vietnam under the proposed name of C&A Packaging Company Limited to undertake the business of production of paper packaging, printing packaging and other business activities as agreed upon by the Members and in accordance with the provisions of Vietnam Law, subject to the terms and conditions as stipulated in the Agreement (the "Proposed Joint Venture"). The Proposed Joint Venture shall operate through the JV Company, which APTV will subscribe for 50% of the charter capital of the JV Company for a total cash consideration of VND 6,000,000,000 (equivalent to approximately MYR 1,138,805), (the Proposed Subscription). The remaining 50% of the charter capital of the JV Company will be held by CLC.

After the completion of the Proposed Joint Venture, the JV Company will be recognised as a jointly-controlled entity of TWPH.