1. INTRODUCTION

The Board of Directors of RAMSSOL (“Board”) wishes to announce that the Company had on 1 August 2024 incorporated a new wholly-owned subsidiary, namely RAMS AITech Sdn. Bhd. (“RAMS AITECH”) in Malaysia (“Incorporation”).

2. INFORMATION OF RAMS AITECH

The issued and paid-up capital of RAMS AITECH is RM1,000.00 divided into 1,000 ordinary shares of RM1.00 each. RAMS AITECH will be principally involved in businesses in relation to software development and advisory services, and computer programme activities and other information technology services.

3. RATIONALE OF THE INCORPORATION

The Incorporation is mainly to facilitate the expansion of the business activities of RAMSSOL and its subsidiaries.

4. EFFECT OF THE INCORPORATION

The Incorporation will not have any material effects on earnings per ordinary share of RAMSSOL ("Share"), net assets per Share, share capital of RAMSSOL, substantial shareholders' shareholding of RAMSSOL and the gearing of RAMSSOL and its subsidiaries for the financial year ending 31 December 2024.

5. STATEMENT BY THE BOARD

The Board, having considered all aspects of the Incorporation, is of the opinion that it is in the best interest of RAMSSOL.

This announcement is dated 1 August 2024.