The Management is pleased to announce that it has set up a new company, Teckwah Packaging Systems (Shanghai) Co Ltd (TPS), in the Free Trade Zone of Pudong in Shanghai, People’s Republic of China.

TPS is a wholly-owned subsidiary of Techwave Media Services Pte. Ltd.. It is established for the purpose of providing supply chain management, end-pack and engineering services to digital technology and computer devices companies located in the Free Trade Zone and whose products are for export.

"China will become an increasingly important market as the country enters the WTO. Trade barriers that previously existed will be removed, facilitating the export of goods and services from the country to the rest of the world. As more international companies use China to meet their manufacturing needs, we are ready to provide a range of value chain services to these customers to support their requirements from printing and packaging to assembly, logistics and warehousing. Our factory in Pudong is well positioned to meet the needs of exporters and we are confident that we will be able to better serve the needs of our customers by adding and creating value through the achieving cost efficiency yet without compromising the level of quality." said Thomas Chua, the Deputy Chairman and Managing Director.

Teckwah Packaging Systems (Shanghai) Co. Ltd. will be in operation in mid February.

On 12 October 2000, the Management announced the establishment of the wholly-owned subsidiary , Teckwah Value Chain (Shanghai) Co. Ltd, in Jia Ding, Shanghai, to provide the supply chain management services to support the needs of multinational IT companies operating in China. This subsidiary is to cater for multinational IT companies who manufacture products for China domestic market.