The Board of Directors of Bonia Corporation Berhad (“Bonia” or “the Company”) wishes to announce that Daily Frontier Sdn Bhd, a subsidiary of the Company, had on 12 October 2012 incorporated a wholly-owned subsidiary in the Socialist Republic of Vietnam, namely, Daily Frontier (Vietnam) Company Limited (“DFV”) and the Investment Certificate was received from People’s Committee of Ho Chi Minh City on 1 November 2012.

DFV is incorporated with a charter capital of VND10,500,000,000 (equivalent to USD500,000). The charter capital is payable in cash within two (2) years from the date of the Investment Certificate of 12 October 2012. 

The intended business activities of DFV are import, export, wholesale, retailing and distribution of fashionable products, accessories and cosmetics. 

The incorporation of DFV is in line with the Group’s expansion strategy and would increase Bonia’s market presence in Vietnam. Mr Chiang Fong Yee has been appointed as the legal representative of DFV. 

The above incorporation is funded by internal resources and is not expected to have any material effects on the earnings or net assets of the Company for the financial year ending 30 June 2013.

None of the Directors and to the best knowledge of the Directors, none of the major shareholders or person connected to them has any interest, direct or indirect in the aforesaid incorporation.