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PCG unit incorporates new subsidiary
Published on: Wednesday, August 24, 2016
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Kuala Lumpur: Petronas Chemicals Group Bhd's (PCG) unit, Petronas Chemicals Marketing Sdn Bhd, has incorporated a new subsidiary in Indonesia. In a filing to Bursa Malaysia Tuesday, PCG said the incorporation of PT PCM Kimia Indonesia (PCMI) was under the Limited Liability Act with an authorised capital of 10 billion rupiahs and the intended business activity is wholesale trading.

"The incorporation of PCMI is not expected to have any material effect on the earnings and the net tangible assets of the group for the financial year ending Dec 31, 2016.

"None of the directors or substantial shareholders of PCG or persons connected to them have any interest, direct or indirect in the incorporation of PCMI," it added. – Bernama




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