News

Formation Of New Subsidiary

The Board of Directors of Food Empire Holdings Limited (the "Company") is pleased to announce the formation of a new subsidiary and the details are as follows:

Name of company	:	FES (Mauritius) Ltd
Country of incorporation and operation	:	Mauritius
Issued and paid-up capital	:	1 ordinary share of US$1 each at par
Percentage of equity held by the Company	:	100%
Principal activities	:	An investment holding company. Its proposed subsidiaries will mainly be involved in trading and distribution of instant food and beverages

The above investment is not expected to have any material impact on consolidated net tangible assets and earnings per share of the Company for the current financial year.

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