Pursuant to paragraph 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of MI EQUIPMENT HOLDINGS BERHAD ("the Company") is pleased to annouce that the Company has on 20 September 2018 incorporated a new wholly-owned subsidiary, MI AUTOBOTICS SDN BHD ("MIASB"), with an issued and paid-up share capital of RM2.00. The purpose of  incorporating MIASB is to undertake the business of research and development, engineering, manufacturing, and assembly of smart and highly mechatronics industry robots and advanced factory automation equipment and machineries through high intelligent industrial automation processing technique and digitalized technology to support the requirement of fully integrated industrial revolution, to manufacture and sales of related parts and accessories, development and sales of intelligent software solutions and systems.

The incorporation of MIASB is not expected to have any material effect on the earnings per share, net assets per share, issued and paid-up share capital or substantial shareholders' shareholdings in the Company.  The establishment of MIASB is not subject to the approval of shareholders of the Company and any other regulatory authorities.

None of the Directors, major shareholders of the Company and/or persons connected with them has any interest, direct or indirect, in the above incorporation of subsidiary.

This announcement is dated 21st day of September 2018.