The Board of Directors of Axcelasia Inc. announced that the Company has incorporated a 70% directly owned subsidiary, Axcelasia Vietnam Co. Ltd. in Vietnam with issued and paid-up capital of USD 300,000.00. Axcelasia holds 210,000 shares of USD 1.00 each representing 70% of the total issued and paid-up capital and Kambah Ltd, an unrelated third party, holds 90,000 ordinary shares of USD 1.00 each representing 30% of the total issued and paid-up capital. The principal activities were business consulting and general management services, enterprise risk management services; software solutions, design, build, maintenance, training and implementation; investment management and consulting; and corporate services including setting up of companies and registration of businesses in Vietnam.