OTHERS P.I.E. INDUSTRIAL BERHAD (''P.I.E'' OR THE ''COMPANY'') DISCLOSURE OF MATERIAL INFORMATION PURSUANT TO PARAGRAPH 9.03 OF THE LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD
The Board of Directors (”Board”) of PIE wishes to announce its wholly-owned subsidiary, Pan-International Electronics (Malaysia) Sdn Bhd (”PIESB”) had on 31 March 2024 secured an overseas manufacturer (the ”Manufacturer”) specializes in servers and switches. The Plant of PIESB with build up area of 280,000 square feet will be allocated entirely for the manufacturer. Pilot production is scheduled to commence by end of 2024, while mass production is slated to begin in 2025 (the ”Transaction”).
Please refer to the attached appendix 1 for further details.