The Board of Directors of MYNEWS announced the incorporation of the following subsidiaries according to the Joint Venture Agreements executed by Mynews Group with MRA Bakery Sdn Bhd and Gourmet Kineya Co Ltd. on 5 October 2017 respectively: Mynews Ryoyupan Sdn Bhd ("Mynews Ryoyupan") by its wholly-owned subsidiary, Mynews Food Sdn Bhd (formerly known as Otaru Fine Food Sdn Bhd - "Mynews Food") on 6 February 2018; and Mynews Kineya Sdn Bhd ("Mynews Kineya") by the Company on 8 February 2018. In MYNEWS' announcement to Bursa Malaysia Securities Berhad dated 5 October 2017 on the Signing of the Joint Venture Agreements, it was reported that Mynews Kineya would construct and equip a five (5) levels building on the land in Rawang, Selangor owned by Mynews Food to house the food processing facilities. The facilities will now be housed in the newly acquired property at Kota Damansara as it is anticipated that better operational efficiencies will be realized with an expected early completion of the facilities and the more strategic location of the site.