The Board of Directors of FMHB is pleased to announce that FM Global Logistics (M) Sdn. Bhd. (“FMGLM”), a wholly-owned subsidiary of the Company, has on 19 January 2018 received the letter of approval dated 28 December 2017 for a special incentive package from the MIDA, on behalf of the Government of Malaysia, for the development of an E-Commerce Fulfilment Hub in Shah Alam, Selangor.

The special incentive package will enable FMGLM to qualify for income tax exemption via Investment Tax Allowance (“ITA”) of 60% of qualifying capital expenditure within a 5 year period. The ITA can be utilised to deduct up to 70% of the statutory income for each year of assessment.

The Company will proceed to finalise the plans for the development of the E-Commerce Fulfilment Hub in accordance with the conditions as per the abovementioned letter of approval and the special incentive package is expected to contribute positively to the future earnings of the Group.

This announcement is dated 19 January 2018.