The Board of Directors of Oxley Holdings Limited announced that the company has incorporated a new subsidiary in Singapore, namely, Oxley Topaz Pte. Ltd. with an initial issued and paid-up share capital of SGD 1. The incorporation of Oxley Topaz is in line with the group's expansion plans. The incorporation of Oxley Topaz was funded by internal resources and is not expected to have any material impact on the net tangible assets per share or earnings per share of the company for the current financial year ending 30 June 2018.