Metax establishes Indonesia subsidiary

Metax Engineering Corporation Limited, listed in SGX, has taken steps to incorporate a subsidiary in Indonesia, PT Bali Environmental Persada. 

PT Bali Environmental will have a paid-up capital of Rp1.82 billion, where Metax will control 60%, while the remaining equity interest of 40% will be held by PT Pulau Mas International, a company which is part of a conglomerate involved in the trading of various building products, civil construction, and property development.

The new subsidiary will conduct its business in import and trading of water treatment equipment, mechanical and engineering equipment, and spare parts such as water pump, water filter, and compressor, and business management consultancy.

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