The Board of Directors of Goodland Group Limited announced that the company has on 16 December 2016 incorporated a Singapore wholly-owned subsidiary known as GLG Capital Pte. Ltd. with an initial issued and paid-up capital of SGD 1,000. The principal activities of GLG Capital will be real estate development and other investment holding.

Mr. Tan Chee Beng and Mr. Tan Chee Tiong, who are Directors of the company, have been appointed as directors of GLG Capital.