SBI Offshore sets up indirect subsidiary in RI
Tuesday, June 14 2016 - 01:01 AM WIB
SGX-listed SBI Offshore Limited announced Monday that its wholly-owned subsidiary, Solar Energy Investments Pte. Ltd., together with PT Papua Mohaga (PPM) and Mega Asia Capital Pte. Ltd. (MAC), has incorporated a company in Indonesia, details of which are set out below:
Name of company: PT Ness Indonesia Terang (NIT)
Date of incorporation: June 9, 2016
Issued share capital: US$1,000,000 comprising 1,000 ordinary shares.
Authorised share capital: US$3,000,000 comprising 3,000 ordinary shares.
Principal activities: Develop, own, operate and maintain solar photovoltaic energy systems and plants in Indonesia?s Papua Province.
Solar holds 80 percent of the legal shareholding interest in NIT and accordingly, NIT is an indirect subsidiary of SBI Offshore. PPM and MAC each holds 10 percent legal shareholding interest NIT.
Editing by Reiner Simanjuntak