The Board of Directors of Koufu Group Limited announced that its subsidiary, Koufu Pte. Ltd. has incorporated a 60% owned subsidiary, known as Supertea (Int) Pte. Ltd. in Singapore. The new company will carry on the business of receiving royalties or licensing fees for the use of its franchise or license. The company's contribution is funded by internal resources and is not expected to have any material impact on the earnings per share and net tangible assets per share of the company for the current financial year.