The Board of Directors of Sapura Industrial Berhad (“SIB” or “the Company”) wishes to announce that the Company had on 23 October 2024 incorporated SIB Ventures Sdn Bhd [Company Registration No. 202401044576 (1590422-M)] (“SIBV”), a private company limited by shares under the Companies Act 2016. 

SIBV was incorporated with initial paid-up share capital of RM100 comprising 100 ordinary shares and is wholly owned by SIB.

The intended activities of SIBV is as an investment holding company for businesses in mobility, new energy vehicles, all types of electrified vehicles, parts & components, products, services and technologies. 

The incorporation of SIBV is not expected to have any material impact on the earnings and net assets of SIB for the financial year ending 31 January 2025. 

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

This announcement is dated 23 October 2024.