The Board of Directors of United Global Limited announced the company has incorporated a wholly-owned company in Singapore. The particulars of the New Wholly-Owned Subsidiary are as follows: Name of company is UNITED FUELS COMPANY PTE. LTD.; country of incorporation is Singapore; date of incorporation is November 13, 2018; and nature of business is investment holding. The incorporation of the New Wholly-Owned Subsidiary is funded through internal resources of the Group. The incorporation of the New Wholly-Owned Subsidiary is not expected to have any material impact on the net tangible assets per share or earnings per share of the Group for the current financial year ending 31 December 2018.