HO WAH GENTING BERHAD ANNOUNCES INCORPORATION OF HWGB EV SDN BHD AS ITS SUBSIDIARY TO INTRODUCE ELECTRIC VEHICLE IN MALAYSIA

KUALA LUMPUR, 22 FEBRUARY 2021 – Ho Wah Genting Berhad (“HWGB” or the “Company”) (KLSE: 9601) today announced that the Company has incorporated a new wholly-owned subsidiary, HWGB EV Sdn Bhd (“HWGB EV”). The incorporation of HWGB EV will contribute to the Company’s business expansion plans.

An EV is a shortened acronym for an electric vehicle. EVs are vehicles that are either partially or fully powered on electric power which are also very environmentally friendly as they use little or no fossil fuels. The principal activity of HWGB EV is to engage in the business as dealers in, distributors and/or sellers of particularly but not restricted to assembled electric motor vehicles or motor vehicles of all descriptions.

The management of HWGB said: “We are pleased to announce that we have incorporated HWGB EV, as we firmly believe this is the right direction for HWGB growth in the foreseeable future”.

Ho Wah Genting Berhad (“HWGB” or the “Company”) is principally engaged in investment holdings and the provision of management services to its subsidiaries. The Company had on 30 June 2020 diversified its existing businesses to include healthcare-related industry which mainly involved in Health Supplement, Biotechnology and Health Technology. In addition, the Company and its subsidiaries (“HWGB Group” or the “Group”) are also engaging in the businesses of Investment holdings; manufacturing of wires and cables and moulded power supply cord sets and cable assemblies for electrical and electronic devices and equipment; Trading of wires and cables; and travel agent and tour related services.