17 Dec 2021
Set up of a Branch Office in Taiwan
The Board of Directors of Vallianz Holdings Limited (“Company” together with its subsidiaries, “Group”) wishes to announce that the Group’s wholly-owned subsidiary, PT United Sindo Perkasa (“PT USP”), has set up a branch office (“Branch Office”) in Taiwan, the Republic of China. The initial working capital of the Branch Office is NT500,000 (approximately US$18,005).
PT USP has the intention to expand its business and client base in Taiwan in relation to its services in shipbuilding, engineering and fabrication for projects such as offshore wind farms and ports.
The Branch Office is intended to be a liaison office and marketing representative for PT USP, and will be funded through our internal resources.
The set-up of the Branch is not expected to have a material impact on our Group’s net tangible assets and earnings per share for the current financial year ending 31 March 2022.
None of the Directors or controlling shareholders of the Company has any interest, direct or indirect, in the joint venture other than in their respective capacities as Directors and/or shareholders of the Company.
