The Board of Directors of Manufacturing Integration Technology Ltd. announced that the Company has incorporated a wholly-owned subsidiary in Malaysia, namely, Manufacturing Integration Technology Sdn. Bhd. (the "Subsidiary").

The Subsidiary has an issued and paid-up capital of MYR 1.00 comprising 1 ordinary share which is held by the Company with principal activities of designing, developing, manufacturing and distributing automated equipment for the semiconductor and other industries. The incorporation of the Subsidiary is in line with the Group's expansion plans. The incorporation is funded by internal resources and is not expected to have any material impact on the net tangible assets per share and earnings per share of the Company for the current financial year ending 31 December 2022.