SINGAPORE (Yosefardi) – Gaylin Holdings Limited said its wholly-owned subsidiary, Gaylin Indonesia Pte. Ltd. has incorporated a subsidiary known as PT. Gaylin in Jakarta, Indonesia (PT. Gaylin).
As at the date of this announcement, the issued share capital of PT. Gaylin is US$300,000.00, divided into 300,000 ordinary shares.
Gaylin Indonesia holds 99.67 % in the issued share capital of PT. Gaylin while the remaining 0.33% is held in trust for Gaylin Indonesia by Mr Teo Bee Kheng, a Director of the Company, in order to comply with the relevant laws in Indonesia which require a minimum of two shareholders.
The principal activity of PT. Gaylin is in the supply of rigging and lifting equipment for the offshore oil and gas industry.