Asset Acquisitions and Disposals::Incorporation of a Subsidiary Company

Issuer & Securities

Issuer/ Manager
UNITED OVERSEAS BANK LIMITED
Securities
UNITED OVERSEAS BANK LIMITED - SG1M31001969 - U11
Stapled Security
No

Announcement Details

Announcement Title
Asset Acquisitions and Disposals
Date &Time of Broadcast
14-Jan-2020 17:44:54
Status
New
Announcement Sub Title
Incorporation of a Subsidiary Company
Announcement Reference
SG200114OTHRLBD1
Submitted By (Co./ Ind. Name)
Theresa Sim
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
United Overseas Bank Limited ('UOB') wishes to announce that its subsidiary Avatec.ai (S) Pte. Ltd. ('Avatec') has incorporated a subsidiary called PT Saat Keuangan Indonesia ('PT SKI') in Indonesia. PT SKI has an authorised share capital of IDR10,000,000,000. Its issued and paid up capital is IDR2,500,000,000 and its principal activities are finance and insurance, and information and communication (web portal and / or digital platforms with commercial purposes).

Avatec is a joint venture company between UOB (60%) and Pintec Technology Holdings Limited (40%).