Cabnet Holdings Berhad announced that the company had on 4 November 2020, incorporated a new wholly-owned foreign subsidiary in Singapore under the name of Cabnet Globe Pte Ltd. CGP has an issued share capital of SGD1-00 comprised of 1 ordinary shares and its intended principal activity is to provide electrical works. The incorporation of GCP will not have any effect on the earnings per share, net assets per share and gearing of CHB and its subsidiaries for the financial year ending 31 December 2020. The incorporation of CGP also does not have any effect on the share capital and substantial shareholder's shareholdings in the Group.