CapAllianz Holdings Limited announced that it had on 3 May 2024 incorporated a wholly-owned subsidiary, Future AI Tech Pte. Ltd. in Singapore. Future AI has an issued and paid-up capital of SGD 100,000 comprising 100,000 ordinary shares, and its principal activities are the development of software and applications and information technology consultancy.

The Incorporation of Future AI was funded through internal resources of the Group and is not expected to have a material impact on the net tangible assets per share and the earnings per share of the Company and the Group for the current financial year ending 30 June 2024.