UOL incorporates an associated company
It will focus on property development.
UOL Group, through Kheng Leong Company (KLC) and its subsidiary UOL Venture Investments (UVI), incorporated an associate company.
According to an announcement, Secure Venture Development (No. 1) Pte. Ltd. (SVD1) was incorporated in Singapore for 2 shares worth $2.
SVD1 will focus on the development of properties and real estate.
UVI and KLC will each have 50% shareholding interest in SVD1.
The incorporation of SVD1 will enable UOL to explore business opportunities with KLC.