Noel Gifts International Ltd. announced that the Company, has incorporated a wholly owned subsidiary. Name of company is Gift Collective Pte. Ltd. Place of incorporation is Singapore. Issued and paid-up share capital is SGD 10,000 at SGD 1.00 per share. Percentage of shareholding is 100% owned by the Company. Principal activity is to engage in retail sale via internet and wholesale trade of a variety of goods.