YTL Corporation incorporates new subsidiary in Indonesia

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YTL Corporation incorporates new subsidiary in Indonesia

KUALA LUMPUR, May 12 — YTL Corporation Bhd’s (YTL Corp) indirect wholly-owned subsidiary, YTL Construction International (Cayman) Ltd, has incorporated a 67 per cent owned subsidiary in Indonesia, known as PT YTL Construction Makmur (YTLCM).

In a filing to Bursa Malaysia today, YTL Corp said the new subsidiary would be principally involved in civil engineering works, construction and power plant installation.

YTLCM was incorporated on May 10, 2016 with an authorised share capital of US$1.0 million and an issued share capital of US$250,000.

YTL Corp said the incorporation was not expected to have any material effect on the earnings, gearing and net assets of the group for the financial year ending June 30, 2016.

— BERNAMA


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