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ANNAIK LIMITED
(Company Registration No. 197702066M)
(Incorporated in Singapore with limited liability)
INCORPORATION OF A NEW COMPANY
The directors of ANNAIK LIMITED (the "Company") wish to announce that the Company has subscribed for 30% of the issued share capital of a newly-incorporated company, Shinsei Japan Industry Co. Ltd ("Shinsei Japan").
Shinsei Japan is incorporated in Japan and has an issued and paid-up capital of 10 million Yen. The principal activities of Shinsei Japan are the marketing and sale of steel flanges and high-pressure forged fittings which are produced by the Company's factories in China.
The above transaction is not expected to have any material impact on the earnings of the Company in the current financial year ending 31st December 2007.
By Order of the Board
Ng Kim Keang
Director
Singapore, 19 December 2007
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