The board of directors of Raffles United Holdings Ltd. announced that the company has established a wholly-owned subsidiary company, Raffles Beaute Pte Ltd. (RB) on 1 August 2017 with a paid-up capital of SGD 100,000. The principal activities of RB are mainly that of investment holdings, beauty and other personal care products and services. RB is expected to hold the beauty business companies of the group. Accordingly, RB has also established two wholly-owned subsidiary companies as follows: Allure Beaute International Pte Ltd. (ABI) established on 1 August 2017 with a paid-up capital of SGD 100,000; and Allureate Beaute Pte Ltd. (Allureate) established on 1 August 2017 with a paid-up capital of SGD 100,000.