The Board of Directors of Freight Management Holdings Bhd ["FMHB" or "the Company"] wishes to announce that FM Global Logistics Ventures Sdn. Bhd. (Formerly known as Icon Line (Malaysia) Sdn. Bhd.) [“FMGLV”], a wholly-owned subsidiary of FMHB has received notice dated 11 February 2015 of the incorporation of its wholly-owned subsidiary by the name of FM Global Korea Corporation ["FMGKC"], under the laws of Korea. FMGKC has an initial issued and paid-up share capital of Korean Won (KRW) 200,000,000.00 (equivalent to approximately RM650,400.00) comprising 20,000 shares of KRW 10,000 each.

FMGKC's intended business activity is the provision of trading services.

The above transaction is not subject to the approval of the shareholders of the Company or the approval of any authority in Malaysia.

The above transaction is not expected to have any material impact on the earnings and net tangible assets, gearing, share capital, substantial shareholders’ shareholdings of the Group for the financial year ending 30 June 2015 but is expected to contribute positively in the future.

This announcement is dated 12 February 2015.