YKGI Limited announced that the Group has incorporated a new wholly-owned subsidiary in Singapore, YKGI Food Court Management Pte. Ltd., with an initial issued and paid-up share capital of SGD 10,000 divided into 10,000 shares to be wholly by the Company. The principal activities of YKGI FCM are those of letting and operating of self-owned or leased food courts, coffee shops and canteens (with mainly rental income) and stalls selling cooked food and prepared drinks.

The incorporation of YKGI FCM 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 Group for the current financial year ending 31 December 2023. None of the Directors, controlling shareholders or substantial shareholders of the Company has any interest, direct or indirect, in the incorporation of YKGI FC M, other than through their respective shareholdings in the Company.