Pavillon Holdings Ltd. announced the incorporation of a wholly-owned subsidiary in Singapore known as "Pavillon Global Pte. Ltd" ("Pavillon Global") with an initial issued and paid-up share capital of SGD10,000.00. Pavillon Global is principally engaged in trading, distribution, import and export of food products.

The aforementioned transaction was financed through internal resources and is not expected to have any material impact on the Group's earnings per share and net tangible assets per share for the financial year ending 31 December 2022.