The Board of Directors of Tarsons Products Limited at its meeting held on November 11, 2023, approved incorporation of a Wholly Owned Subsidiary of Tarsons in Singapore to engage in investment activities related to the business of Tarsons, including but not limited to the acquisition of other companies, Joint Ventures, Strategic Partnerships and other business arrangements or any other activities necessary or incidental to the business objectives of Tarsons or for other purposes. The wholly owned subsidiary shall be a related party of the Company. Save and except what is mentioned above, the Promoter/Promoter Group are not interested in the transaction.

The wholly owned subsidiary is incorporated in Singapore with primary objective to engage in investment activities related to the business of Tarsons, including but not limited to the acquisition of other companies, Joint Ventures, Strategic Partnerships and other business arrangements or any other activities necessary or incidental to the business objectives of Tarsons or for other purposes.