The Board of Directors of Avi-Tech Electronics Limited announced it has recently incorporated a new wholly-owned subsidiary, 'AVT Connect Pte Ltd' (the Subsidiary). The Subsidiary is a private company incorporated in Singapore limited by shares, and has an initial issued and paid-up capital of SGD 1.00. The principal activities of the Subsidiary includes providing business and administrative support to the company.

The incorporation of the Subsidiary is funded by internal resources and is not expected to have any material impact on the net earnings per share or net tangible assets per share of the company for the current financial year.