The board of directors (the ‘Board') of Raffles Infrastructure Holdings Limited (the Compan) and together with its subsidiaries (collectively known as the Group) announced that the Group, has on 22 June 2022, obtained the approval for the incorporation of a subsidiary in People's Republic of China, Wuhan, details of which are set out: Name of New Subsidiary is Wuhan Raffles Technology Co. Ltd. (‘RDI Wuhan'); Date of Incorporation is 20 June 2022; Principal Activities are Technological advisory, implementation, development, and maintenance of software including supply chain infrastructure. The incorporation of RDI Wuhan will be funded by the proceeds from the Group's internal resources and is not expected to have any material impact on the company's earnings per share and the net tangible assets per share for the financial year ending 30 June 2022.