Malaysian agri-food giant QL Resources has incorporated wholly-owned subsidiary PT. QLNutri Foods Indonesia (QLNutri) into another wholly-owned subsidiary, PT. QL Hasil Laut (PTHL).
The authorized capital of QLNutri is IDR 10 billion (€1 million/$1 million) comprising 10,000 shares at IDR 1 million (€100/$100) each and paid up capital of IDR 5 billion (€500,000/$500,000) comprising 5,000 shares at IDR 1 million (€100/$100) each.
Its intended principal activities are trading in surimi and surimi-based products.
The incorporation is part of QL's business expansion plan in Indonesia.
The investment in QLNutri will be financed via internally generated funds and borrowings.
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