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News

Formation Of New Subsidiary - FER (HK) Limited

The Board of Directors of Food Empire Holdings Limited ("the Company") wishes to announce the formation of a 87% owned new subsidiary, FER (HK) Limited through FES (Mauritius) Ltd, a wholly-owned subsidiary of Future Enterprises Pte Ltd. Future Enterprises Pte Ltd is a subsidiary, wholly-owned by the Company. The formation of FER (HK) Limited is funded through internal resources and the details are as follows:

Name of new subsidiary	:	FER (HK) Limited
Country of Incorporation	:	Hong Kong
Issued and paid-up capital	:	HK$1,000,000.00; 1,000,000 shares of HK$1.00 each (par value)
Principal Activities	:	Trading and distribution of instant food and beverages

There is no material impact arising from the new formation on the 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 this transaction.

This is a non-discloseable transaction under Chapter 10 of the Singapore Exchange Securities Trading Limited Listing Manual.


By Order of the Board

Tan San-Ju
Company Secretary