The Board of Directors of Raffles Medical Group Ltd. (the Company) announced that the Company has on 15 January 2020 incorporated an indirect wholly-owned subsidiary in the People's Republic of China known as Raffles Hospital (Shanghai) Co. Ltd. (RHS). The principal activity of RHS is in hospital management and operations, with a registered capital of CNY 80 million, which is held through Raffles Medical Group (Hong Kong) Limited (RMGHK).