ISDN Holdings Limited's Shanghai DBasix M&E Equipment Co., Ltd Announces Incorporation Of Subsidiary

ISDN Holdings Limited announced that the Company has, through its subsidiary, Shanghai DBasix M&E Equipment Co., Ltd has, set up a new company, Hefei Hongchengsheng Machinery & Equipment Co., Ltd, in the People’s Republic of China, with an issued and paid-up share capital of RMB300,000 and RMB60,000 respectively. Shanghai DBasix will hold 60% of the issued and paid-up share capital of Hefei M&E. The remaining 40% of the share capital of Hefei M&E is held by Mr. Li Jianhai. Shanghai DBasix is a wholly owned subsidiary of DBasix Singapore Pte. Ltd, which is in turn 51.92% owned by Motion Control Group Pte. Ltd., a wholly owned subsidiary of the Company. As such, Hefei M&E will be an associated company of the Company. Hefei M&E will be in the business of assembling and sale of machinery, equipment, hardware and parts and related services. The above investment will be funded by internal resources.