GSS Energy sets up three subsidiaries

By Ruli Setiawan

SGX-listed GSS Energy Limited, which has oil and gas assets in Indonesia, announced Wednesday it has set up the following three wholly owned subsidiaries in British Virgin Islands as part of its ongoing business development

(1) Name : GSS Energy Trembul Limited
- Date of Incorporation : March 26, 2015
- Principal Activity : Operation of oilfields and related services Issued and
- Paid-up Share Capital : US$1.00 comprising one ordinary share

(2) Name : GSS Energy West Jambi Limited
- Date of Incorporation : March 27, 2015
- Principal Activity : Operation of oilfields and related services Issued and
- Paid-up Share Capital : US$1.00 comprising one ordinary share.

(3) Name : GSS Energy Oilfield Management Limited
- Date of Incorporation : March 26, 2015
- Principal Activity : Management of oilfields and related services Issued and
- Paid-up Share Capital : US$1.00 comprising one ordinary share

The incorporation of the above subsidiaries is not expected to have any material impact on the net tangible assets per share or earnings per share of the group for the current financial year ending December 31, 2015, the company said.

Editing by Reiner Simanjuntak