(from L-R: Mr Ravi Govindan - General Manager IAC Malaysia, Mr Tetsuo Imai - President IAC Japan, YAB Datuk Seri Hj Mohd Ali - Chief Minister of Melaka (Guest of Honor),Datuk Goh Seng Chong - Chairman/CEO Cubic Electronics Sdn Bhd and YB Datuk Hj Md Yunos Bin Husin, State Chairman for industrial, Trade, Entreprenuer Development & Coperative)

Melaka, February 6th, 2009 – Cubic Electronics Sdn Bhd (CESB) today announced that it has entered into a joint venture with Imai Aero-Equipment Mfg.Co.Ltd. (IAC), Japan’s largest sub-contractor in manufacturing of air craft components and aircraft equipments.

With this joint venture, IAC Japan will own 75% equity interest in IAC Manufacturing (M) Sdn Bhd (IAC Malaysia), while CESB will own the remaining 25%. The joint venture between the two companies aims to make IAC Malaysia the largest aircraft components manufacturing and sub-assembly hub in Asia Pacific.

“Together we plan to expand the business by first converting our existing facility with built up area of 127,200 sq ft and subsequently, the other available space in CESB and adjacent factories into an aircraft components hub within the next five years.” remarked Datuk Goh, Chairman/ CEO of Cubic Electronics, during the signing ceremony today.

AC Japan is planning to consolidate and concentrate all its aero equipment business from Japan to its operations in Melaka, Malaysia. IAC Manufacturing (M) Sdn Bhd, established in 2005 is currently relocating its manufacturing operations from Nilai to Melaka and is scheduled to begin its operations end April 2009.