The Board of Directors of Oceanus Group Limited announced that the company's wholly-owned subsidiary, Oceanus Investment Holdings Pte. Ltd., has established the following company in Singapore. Name of company is Season Global Trading Pte. Ltd. ("SGTPL"), Place of incorporation is Singapore, Issued and paid-up share capita of SGD 1,000 comprising 1,000 ordinary shares of SGD 1 each, Interest of Oceanus Investment holding 50.1% in SGTPL and Season Hong International Trading Limited holding 49.9% in SGTPL, Principal Activity are Wholesale trade of a variety of goods and general warehousing. The Group's incorporation of SGTPL is in line with the Group's business plans. The investment in SGTPL is funded through internal resources and is not expected to have any material financial impact on the consolidated net tangible assets per share and consolidated earnings per share of the Company and its Group for the current financial year ending 31 December 2020. None of the directors, controlling shareholders or substantial shareholders of the Company has any interest, direct or indirect, in the incorporation of SGTPL, save for their interests arising by way of their directorship and/or shareholdings, as the case may be, in the Company and SGTPL.