Asset Acquisitions and Disposals::Incorporation of a Subsidiary Company
Issuer & Securities
UNITED OVERSEAS BANK LIMITED
UNITED OVERSEAS BANK LIMITED - SG1M31001969 - U11
Asset Acquisitions and Disposals
Date &Time of Broadcast
Announcement Sub Title
Incorporation of a Subsidiary Company
Submitted By (Co./ Ind. Name)
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%).