The Board of Directors of Memiontec Holdings Ltd. announced that the company had, on 5 January 2024, incorporated a wholly-owned subsidiary, MIT Investment Pte. Ltd. ("MIT Investment"), in Singapore. MIT Investment is an investment holding company, and has an issued and paid-up share capital of S$2.00 comprising two (2) ordinary shares.

The incorporation of MIT Investment was funded through internal resources of the Group and is not expected to have a material impact on the net tangible assets per share and the earnings per share of the Company and the Group for the financial year ending 31 December 2024.