The Board of Directors of Cabnet Holdings Berhad (“CHB" or the "Company") wishes to announce that the Company had on 18 April 2022, incorporated a new wholly-owned subsidiary under the name of CES Integration Sdn. Bhd. ("CES").

CES has an issued share capital of RM2-00 comprised of 2 ordinary shares and its intended principal activity is to conduct wholesale business of household appliances, lighting equipment, electronic components and wiring accessories.

The incorporation of CES will not have any effect on the earnings per share, net assets per share and gearing of CHB and its subsidiaries (the "Group") for the financial year ending 31 December 2022. The incorporation of CES also does not have any effect on the share capital and substantial shareholders’ shareholdings in the Group.

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

This announcement is dated 18 April 2022.