Interra incorporates a subsidiary
Tuesday, July 16 2013 - 01:35 AM WIB
SGX-listed Interra Resources Limited said that its wholly-owned subsidiary, Goldwater KP Pte. Ltd. (GKP) has incorporated a subsidiary known as Mentari Pambuang Internasional Limited (MPIL) under the laws of the British Virgin Islands with a total issued and paid-up capital of US$100.
The company said in a press statement on Monday that GKP holds 49 percent of the issued and paid-up share capital of MPIL. The other shareholders of MPIL are Energy Alam Mandiri Ltd and Mentari Abdi Nusa Limited, which respectively hold 10 percent and 41 percent of the issued and paid up capital of MPIL.
GKP will be using MPIL to hold its interest relating to the investment in the Kuala Pambuang production sharing contract which was announced by the company on 3rd February 2012.
The incorporation of MPIL is not expected to have any material impact on the consolidated earnings and net tangible assets per share of the company or the group for the financial year ending 31st December 2013.
None of the directors, controlling shareholders or substantial shareholders of the company has any interest, direct or indirect (other than through their shareholdings in the company), in the incorporation of MPIL.
Editing by Benget Besalicto ST