Incorporation of PT Edgenta PROPEL Indonesia

August 24, 2016 Press Release No Comments

UEM Edgenta Berhad (“Company”) wishes to announce that Edgenta PROPEL Berhad (“Edgenta PROPEL”), a wholly-owned subsidiary of the Company had on 23 August 2016 received the approval from Ministry of Law and Human Rights of Indonesia confirming the establishment of PT Edgenta PROPEL Indonesia (“PT EPI”) on 22 August 2016, as a 99.6% subsidiary of Edgenta PROPEL.

The authorised share capital of PT EPI is USD1,000,000 divided into 1,000,000 shares of USD1.00 each and the initial paid-up capital of PT EPI is 250,000 shares having nominal value in the aggregate amount of IDR3,324,000,000 or equivalent to USD250,000 where each share having a nominal value of IDR13,296 or equivalent to USD1.00.  

The intended principal business activities of PT EPI are providing management consultancy and advisory related to management of roads including toll roads.

The establishment of PT EPI will not have any effect on the Company’s issued and paid-up share capital and substantial shareholders’ shareholdings.

There shall be no material effect on the Company’s earnings and net assets for the financial year ending 31 December 2016.

None of the directors and/or substantial shareholders or persons connected to them have any interest, direct or indirect, in PT EPI.

This announcement is dated 23 August 2016.