Tye Soon puts up subsidiary in Indonesia
It will be involved in the distribution of automotive parts.
The Board of Directors of Tye Soon Limited announced that the company has established a subsidiary in Indonesia under the registered name of “PT Palindo Makmur” through its wholly-owned subsidiary in Singapore, Everts Pte. Ltd.
The Indonesian subsidiary has a paid-up capital of US$350,000. The investment was funded by internal resources and is not expected to have any material impact on Tye Soon’s earnings per share and net tangible assets for the financial year ending 31 December 2012.