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Establishment Of A Wholly-owned Subsidiary

BackSep 15, 2004
The Board of Directors of HG Metal Manufacturing Limited ( the "Company") is pleased to announce that the Company has incorporated a wholly owned subsidiary in Singapore, named HG Metal Investments Pte. Ltd.. ( the "Subsidiary" ).

The issued and paid up capital of the Subsidiary is S$2.00 and it will be principally engaged in investment holding.

The investment by the Company is not expected to have any significant impact on the net tangible assets or earnings per share of the Company for the current financial year.

None of the directors or substantial shareholders of the Company have any interest, direct or indirect, in the subject matter of this announcement.