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MAINBOARD-LISTED Fragrance Group said on Tuesday that it has incorporated a wholly owned subsidiary, Fragrance Great Britain Pte Ltd.
It added that the unit is principally an investment holding company, and has an initial paid-up capital of £5 million (S$9.06 million).
According to the group, the setting-up of Fragrance Great Britain is not expected to have any material impact on the group's net tangible assets or earnings per share.
Fragrance shares closed 0.5 cents higher at $0.156 apiece at the end of trade on Tuesday.