Greenlam Industries announces incorporation of step down subsidiary in Indonesia
Capital Market Greenlam Industries announced that its wholly owned subsidiary in Singapore, Greenlam Asia Pacific has incorporated a subsidiary company on 05 May 2020 under the name and style of PT GREENLAM INDO PACIFIC in Indonesia, to carry out, inter alia, the business of distributor and wholesaler of laminates and allied products.
In the above-said Indonesian company, Greenlam Asia Pacific holds 66.67% shares and balance share of 33.33% is held by a local shareholder in Indonesia. Accordingly, the said PT GREENLAM INDO PACIFIC has become a step-down subsidiary of Greenlam Industries upon its incorporation.
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