Mencast Holdings Ltd. announce that the Group has incorporated a new subsidiary in Singapore, details of which are as set out below: Menji Development Pte. Ltd., Date of incorporation 23 January 2024, To market, produce and distribute eco-building materials and products from Phomi MCM Co. Ltd. in Singapore and in other overseas markets.

Issued and paid-up share capital SGD 200,000 comprising 200,000 ordinary shares issued at SGD 1.00 per share The Group's percentage of shareholding 60% (held through Mencast Investment Holdings Pte. Ltd. ("Mencast Investment"), a wholly-owned subsidiary of the Company). Accordingly, the amount payable by Mencast Investment for the incorporation of Mencast Development is SGD 120,000, which will be funded through the Group's internal resources.

Mr. Gong Kun and Mr. Wong Chee Herng will hold the remaining 15% and 25% of the total issued and paid-up share capital of Menji Development, respectively. Save for the business relationships between Mr. Gong and Mr. Wong with the Group as elaborated in the previous announcements and the ensuing paragraphs, they are unrelated to the Group's directors, controlling shareholders and their respective associates.