Neo Group Limited announced that the company has established a 70%-owned subsidiary in the Republic of Singapore, namely Kim's Paradise Pte. Ltd. with a registered capital of SGD 100,000.00. The remaining 30% equity interest of the Subsidiary will be held by Formula Pte. Ltd. The principal activities of the newly set up Subsidiary are related to those of proprietors of food establishments and catering and manufacture of cooked-food preparations. The establishment of the 70%-owned Subsidiary is funded internally and is not expected to have any material impact on the net tangible assets or earnings per share of the Group for the current financial year ending 31 March 2018.