The Board of Directors of Yinda Infocomm Limited announced that the Company has incorporated a wholly-owned subsidiary in Singapore on 8 September 2021. Name of Company: Totm Tech SG Pte. Ltd. As part of the Group's efforts to reorganise its business activities, it is intended for Totm Tech to be assigned the full rights and obligations under the preferential licensing agreements between Tech5 SA and the Company. Under the preferential licensing agreements, the Company/Totm Tech is granted, inter alia, exclusive distribution and value added reseller rights by Tech5 in China, Japan, Singapore, Thailand, Cambodia and Vietnam. The Group is also intending to, through Totm Tech and its subsidiaries, expand into countries including but not limited to USA, India and Africa. It is envisaged for Totm Tech to provide the following activities: (i) Development, resale and integration of end-to-end solutions for identity management and biometrics that facilitates strong authentication of digital identities, enabling trusted and secure infrastructure; and (ii) Development, resale and integration of end-to-end digital onboarding and eKYC solutions that enables secure and trusted contactless onboarding of new customers/members for both government and enterprise applications. The incorporation of Totm Tech was funded through internal resources and is not expected to have any material impact on the net tangible assets per share and earnings per share of the Group for the current financial year ending 31 May 2022.