PT. Martina Berto, Tbk. Established Rp 7 Billion Worth Joint Venture Company in Singapore
PT. Martina Berto, Tbk. (MBTO) established a joint venture company named Eastern Beautypelago Pte. Ltd. The subsidiary's initial capital SGD 1 million or approximately Rp 7 billion.
According
to MBTO Corporate Secretary, Handiwidjaja, the subsidiary is a
collaboration with Alfred Fahringer, an Australian investor who
residents in Singapore.
"Easter Beautypelago Pte. Ltd is an
incorporated that is established based on Singapore law and is based in
Singapore," stated Handiwidjaja in a disclosure of information in the
Indonesian Stock Exchange official website (7/04).
Handiwidjaja said,
that the company has 1 year time limit to inject capital to its
subsidiary since the partnership signatory on April 6 2011.
PT Martina Berto, Tbk. will retain 55 % ownership on Eastern Beautypelago. Therefore, the initial capital around Rp 3,85 billion."Eastern Beautypelago establishment is to operate all Martha Tilaar Shop in Singapore and outside Indonesia," said Handiwidjaja.
Other News:
Local Wisdom Go Global
To be one of the world’s leading companies in cosmetics and spa industry with natural nuances and eastern values through product innovation and modern technology to optimize added value to stakeholders
Short Term Objective
To be Top 3 in Indonesian cosmetics and spa industry
Medium Term Objective
To be one of Asia Pacific players in cosmetics and spa industry
