PETALING JAYA: Takaso Resources Bhd (TRB), via its wholly-owned subsidiary Takaso Industries Pte Ltd (Takaso), has entered into a joint-venture and shareholders agreement to form a baby products manufacturing company in Jakarta.
Takaso entered the agreement yesterday with three Indonesian individuals – Harrison Law, Sendy Parmon and Eddy Iskandar – to set up P.T. Takaso Indonesia Manufacturing.
In an announcement on Bursa Malaysia, TRB said P.T. Takaso would manufacture some of Takaso’s products for the Indonesian market as well as possibly for export.
“The objective of the collaboration and business of P.T. Takaso is to be the largest baby products manufacturer in Indonesia for products of mainly plastics and rubber origin including but not limited to baby bottles and pacifiers,” it said.
The company will have authorised capital of US$3mil (RM9.71mil) and an issued and paid-up capital of US$1mil (RM3.24mil).Takaso will subscribe for 51% of the issued and paid-up capital while the remaining 49% will be subscribed by its joint-venture partners.
TRB said the agreement was not expected to have any material effect on its earnings and net assets for the financial year ending July 31, 2014 as P.T. Takaso’s activities would only commence after that.
It added that it would also assume no liabilities arising from the agreement.
LINK : ( http://www.thestar.com.my/Business/Business-News/2014/06/05/Takaso-in-Indonesian-joint-venture/ )