The Board of Directors of Teckwah Industrial Corporation Ltd ("the Company") is pleased to announce that its wholly-owned subsidiary, Teckwah Value Chain Pte Ltd has subscribed for 49% of the equity comprising of 38,000 shares at 100 Baht par value each, of Teckwah Value Chain (Thailand) Co Ltd ("TVC Thailand"), a company incorporated in Thailand. The balance 51% of the equity is held by some Thai nationals.

The authorised/paid-up capital of TVC Thailand is 3,800,000 Baht and its principal activity is to provide value chain management services.

The investment in TVC Thailand was funded through internal resources and is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of the Group for the current financial year.

None of the controlling shareholders, directors or substantial shareholders of the Company has any interest, direct or indirect, in the above transaction.