Tien Wah Press Holdings

On the 16 May 2016, Tien Wah Properties Sdn Bhd (TWPSB), a wholly-owned subsidiary of TWPH, entered into a Shareholders Agreement with Kemensah Holdings Pte Ltd (KHPL), a wholly-owned subsidiary of Lum Chang Holdings Ltd (LCH), to form and operate a joint venture company known as Lum Chang Tien Wah Property Sdn Bhd (LCTWP), formerly known as Sterling Model Sdn Bhd (SMSB) to acquire and jointly develop the property at No 9 & 11, Jalan Semangat, 46200 Petaling Jaya, Selangor Darul Ehsan into a mixed- use commercial development. The aforesaid property was previously owned by TWPSB. On 8 March 2016, TWPH incorporated a new wholly-owned subsidiary, Alliance Print Technologies FZE (APTF), in Jebel Ali Free Zone, Dubai, United Arab Emirates (UAE). The incorporation of APTF enables the TWPH Group to expand its business in a free trade zone market in UAE with significant business growth. On 24 October 2016, TWPH through MEIL, its 51% subsidiary acquired Max View Holdings Limited (MVHL), a company incorporated and domiciled in Hong Kong Special Administrative Region of the People. Through MVHL, TWPH Group expanded its operations into Indonesia by acquiring 100% of PT Bintang Pesona Jagat (BPJ), a member of British American Tobacco Group (BAT Group) in Indonesia. The acquisition of BPJ was completed on 15 December 2016.