NSL Ltd. announced the establishment of an indirectly held wholly subsidiary, Parmarine Pty Ltd, in Australia on January 23, 2020 for it prefabricated bathroom business. Place of incorporation is in Australia with 100,000 number of shares. Issued and paid up capital is AUD 100,000 and immediate holding company is Parmarine Malaysia Sdn Bhd (Wholly owned subsidiary of NSL Ltd). This transaction is not expected to have a material effect on the earnings per share and net tangible assets per share of NSL Ltd. and its group of companies for the financial year ending December 31, 2020.