The Board of Directors of Tiong Seng Holdings Limited announced that transaction that occurred during the first half year financial period ended 30 June 2023 pursuant to Rule 706A of the Listing Manual of Singapore Exchange Securities Trading Limited. Incorporation of a wholly-owned subsidiary. Name, Tianjin Changcheng Guangang Real Estate Co.

Ltd. Tian Jin Chang Cheng Guan Gang Zhi Ye You Xian Gong Si, Place of Incorporation, The People's Republic of China, Issued and Paid-Up Share Capital, Rmb 30.0 million, Principal Activities, Property Development. The incorporation of Tianjin Changcheng Guang Guangang Real Estate Co.,Ltd. was funded through internal resources. The incorporation of the wholly-owned subsidiary is not expected to have any material impact on the net tangible assets per share and earnings per share of the Group for the financial year ending 31 December 2023.