ISDN Holdings Limited announced that it has incorporated an investment holding company (JV Holdco) with Comtec Solar Systems Group Limited in the British Virgin Islands. The JV Holdco is owned as to 30% by ISDN and 70% by Comtec. Upon incorporation of the JV Holdco, new subsidiaries will be established in Hong Kong and the People's Republic of China (PRC). The PRC subsidiary is expected to set up and operate a distributed generation solar power station with an estimated scale of approximately 1 Megawatt on the roof of industrial park in Suzhou, the PRC. Upon the commencement of operation of such distributed generation solar power station, the subsidiaries in industrial park will purchase generated power from the power station at the then relevant fair market price for a term of 20 years. The total investment amount to the JV Holdco and its subsidiaries would be no more than RMB 8 million. Upon the incorporation, the JV HoldCo and its subsidiaries will become an associate of the ISDN Group.

The board of directors of the JV Holdco comprises three members, namely Mr. Teo Cher Koon, the managing director and president of ISDN and Mr. Zhang Zhen and Mr. Chau Kwok Keung, each being an executive Director of Comtec.