YTL sets up new Indonesian unit
Friday, May 13 2016 - 01:29 AM WIB
By Ruli Setiawan
Malaysia?s YTL Corporation Berhad announced Thursday that its indirect wholly-owned subsidiary, YTL Construction International (Cayman) Limited has incorporated a 67 percent owned subsidiary in Indonesia, known as PT YTL Construction Makmur (YTLCM).
The company said in a statement that YTLCM was incorporated on May 10, 2016 with an authorized share capital of US$1,000,000 divided into 10,000 shares of $100.00 each, and issued share capital of $250,000 comprising of 2,500 shares of $100.00 each.
YTLCM will be principally involved in civil engineering works, construction and power plant installations. No further details were provided.
Editing by Reiner Simanjuntak