OTS Holdings Limited announced that the Group has incorporated a wholly-owned subsidiary in Singapore, OTS International Pte Ltd. ("OTSI") with an initial issued and paid-up share capital of SGD 200,000.00 comprising 200,000 ordinary shares held by the Company. The principal activities of OTSI are those of wholesale of food products and groceries including retail sales via internet. The incorporation of OTSI is funded through internal resources and is not expected to have any material impact on the earnings per share or net tangible assets per share of the Company for the current financial year ending 30 June 2022.