Corporate News
New Subsidiary
May 25, 2005
Cleverway Profits Limited, a wholly owned subsidiary of Willas-Array Electronics (Holdings) Limited (the "Company") has incorporated a wholly owned subsidiary with the name Willas-Array Electronics (Taiwan) Inc. ("WAETI") in Taipei, Taiwan.
WAETI is principally engaged in the trading of electronic components and its authorised and paid up capital is NTD1,000,000.00 divided into 100,000 common shares of NTD10 each.
The setting up of WAETI is not expected to have any material impact on the net tangible assets or earnings per share of the Company.
None of the Directors or substantial shareholders of the Company has any interest, direct or indirect, in the abovementioned transaction.
