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Oriental Group Ltd Announces Incorporation Of New Subsidiary In Singapore With Individual Joint Venture Partner Mr. Freddy Tay Lai Meng


Friday, 26 Apr 2013 06:05am EDT 

Oriental Group Ltd announced that the Company has incorporated a new subsidiary in Singapore, namely OGL Steel (Philippines) Pte. Ltd. (the Singapore Subsidiary) with an individual joint venture partner Mr. Freddy Tay Lai Meng for the purpose of expanding the Group’s existing steel trading business in Philippines. The total initial issued share capital in the Singapore Subsidiary is expected to be USD50,000, among which 55% will be contributed by the Company and the remaining 45% will be contributed by Mr. Tay. To date, the total issued and paid up share capital of the Singapore Subsidiary is USD100 comprising 100 ordinary shares (Shares), among which the Company subscribed for 55 Shares, amounting to 55% shareholding interest in the Singapore Subsidiary and Mr. Tay subscribed for the remaining 45 Shares, amounting to 45% shareholding interest in the Singapore Subsidiary. T 

Company Quote

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26 Feb 2015