Isoteam Ltd Announces Incorporation Of Subsidiary
Isoteam Ltd announced that the Company has incorporated a 51%-owned subsidiary in Singapore known as Zara @ ISOTeam Pte. Ltd. (Zara @ ISOTeam). Zara @ ISOTeam was incorporated with an issued and paid-up share capital of S$100,000 divided into 100,000 ordinary shares. The Company holds 51% of its total issued share capital with the remaining 49% held by Mr Chin Wai Tuck who is unrelated to any of the Company’s directors or controlling shareholders. Zara @ ISOTeam is engaged in the provision of home retrofitting and fitting out services primarily to owners of landed properties to cater to the various maintenance and property enhancement needs to their houses. The incorporation of Zara @ ISOTeam was funded from the net proceeds raised from the Company’s initial public offering.
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