The Board of Directors of Manufacturing Integration Technology Ltd. announced that the company has incorporated a wholly-owned subsidiary in Singapore, namely, MIT Semiconductor Pte. Ltd. The Subsidiary has an issued and paid-up capital of SGD1 comprising 1 ordinary share, all of which are held by the company. The incorporation of the Subsidiary is in line with the group's plans to streamline its semiconductor businesses under the Subsidiary and retain the company for investment holding purposes. The incorporation is funded by internal resources and not expected to have any material impact on the net tangible assets per share or earnings per share of the company for the current financial year ending December 31, 2018.