10 October 2001

 

ACQUISITION OF SUBSIDIARY

 
The Board of Directors of IPC Corporation Ltd (the "Company") wishes to announce that the Company has acquired ThinSoft (Holdings) Inc, a company incorporated in the Cayman Islands with an authorised share capital of HK$100,000 divided into 1,000,000 ordinary shares of HK$0.10 each and an issued share capital of HK$100,000 nil paid.

ThinSoft (Holdings) Inc, which is presently dormant, is a wholly owned subsidiary of the Company and has been established to carry on the business of investment holding.

The acquisition of ThinSoft (Holdings) Inc will have no material impact on the financial position of the Group for the current financial year.

None of the Directors or substantial shareholders of the Company has any interest in the above transaction.


By Order of the Board


Bernard Ngiam Mia Hai
Executive Director/Company Secretary


Submitted by Bernard Ngiam Mia Hai, Executive Director/Company Secretary on 10/10/2001 to the SGX
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