The Board of Directors of Emerging Towns & Cities Singapore Ltd. announced that the Company, has on 5 March 2024 incorporated a wholly-owned subsidiary, ETC Capital Pte. Ltd. ("ETC Capital") in Singapore. ETC Capital has been incorporated as an investment holding company with an issued and paid-up share capital of SGD 1,000 divided into 1,000 ordinary shares.

The incorporation of ETC Capital will not have any material impact on the consolidated net tangible assets and earnings per share of the Group for the financial year ending 31 December 2024. None of the Directors or controlling shareholder of the Company have any interest, direct or indirect (other than through their shareholdings in the Company), in the incorporation of ETC Capital.