1. Introduction

Industronics wishes to announce that at an extraordinary general meeting of a subsidiary of Industronics, Advance Power Trade Sdn Bhd ("APT" or "the Subsidiary") held on 18 November 2009, it was resolved that the Subsidiary be wound up by way of Members' Voluntary Winding-Up pursuant to Section 254(1) of the Companies Act, 1965 ("Members' Voluntary Winding-Up").

Accordingly, Messrs. Sheng Kheng Hong and Low Kwai Kun, both of No. 22 Jalan Pendidik U1/31, Section U1, Hicom-Glenmarie Industrial Park, 40150 Shah Alam, Selangor D.E., have been appointed as Liquidators for the purpose of the Members’ Voluntary Winding-Up.

2. Details of the Subsidiary

APT was incorporated in Malaysia under the Companies Act, 1965 as a private limited company. The authorised share capital of APT is RM1,000,000.00 comprising 1,000,000 ordinary shares of RM1.00 each of which the entire RM1,000,000 is fully paid up in the form of 1,000,000 ordinary shares of RM1.00 each as at 18 November 2009.

APT is 81% owned by Sukitronics Sdn Bhd, which is in turn a 51% subsidiary of Industronics. APT was previously principally involved in industrial maintenance and service works. It has ceased operations since January 2008.

The Declaration of Solvency was duly made by the board of directors of the Subsidiary on 26 October 2009.

3. Rationale for the Members' Voluntary Winding-Up

APT is currently dormant and there are no intentions to activate the company for future plans. Therefore, the directors are of the view that the Members' Voluntary Winding-Up is in the best interest of the Company.

4. Effects of the Members' Voluntary Winding-Up

The Members' Voluntary Winding-Up has no material operational impact or financial impact on the share capital, shareholding structure, earnings, gearing and net assets of the Industronics Group.

5. Approvals Required

The Members’ Voluntary Winding-Up does not require the approval of the shareholders of Industronics.

6. Directors' and Major Shareholders' Interest

None of the Directors or Major Shareholders of Industronics or persons connected to them have any interest in the Members’ Voluntary Winding-Up.

7. Directors' Statement

The Board of Directors, having considered all aspects of the Members' Voluntary Winding-Up, is of the opinion that the Members’ Voluntary Winding-Up is in the best interest of Industronics Group.