Pursuant to paragraph 9.19(23) of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of MI TECHNOVATION BERHAD (formerly known as Mi Equipment Holdings Berhad) ("the Company") is pleased to annouce that the Company has on 28 January 2019 via its wholly owned subsidairy, MI INTERNATIONAL PTE. LTD.  incorporated a new wholly-owned subsidiary, MI SALES & SERVICES (S) PTE. LTD. ("MI-SS"), with an issued and paid-up share capital of SGD2.00. The purpose of  incorporating MI-SS is to set-up a platform to undertake sales and services business activities.

The incorporation of MI-SS 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 MI-SS 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 29th day of January 2019.