The Board of Directors of TrickleStar Limited announced that the Group has incorporated a new wholly-owned subsidiary in Singapore, PlugLoad Pte. Ltd., with an initial issued and paid-up share capital of SGD 300,000 divided into 300,000 ordinary shares on 1 July 2020. The principal activities of PlugLoad are those of licensing technology, developing and selling electrical and energy-saving products. The incorporation of PlugLoad is funded through internal resources by utilising the IPO net proceeds for scaling presence in markets that the company operate in, expansion into new geographical markets and establishing new sales channels.