TSH sets up RM3mil Indonesian subsidiary

for the nine-month period ended Sept 30, 2018 (9M18), the plantation company posted a core PBT of RM81.9mil.

KUALA LUMPUR: TSH Resources Bhd has incorporated a new subsidiary in Indonesia for the development of industrial estate and ownership and leasing of real estate.

PT Aman Mulia Gemilang will have a share capital of 10 billion rupiah (RM2.92mil) comprising of 10,000 shares of one million rupiah each and a paid-up capital of 2.5 billion rupiah divided into 2,500 shares of one million rupiah each.

TSH said in a stock exchange filing that it has subscribed for a total of 1,625 shares representing 65% of the entire issued and paid-up capital of the subsidiary for a total consideration of 1.625 billion rupiah.

"The incorporation of PTAMG is not expected to have any material impact on the earnings per share, net assets per share, gearing, share capital and substantial shareholders’ shareholdings of the Company for the financial year ending 31 December 2019," it said.