Goldis Arm to Expand into Chinese Water Market
Posted on: Sunday, 15 January 2006, 21:00 CST
GOLDIS Bhd has incorporated a company called Jiang Su Gold Water Co Ltd (JSGW) in China to expand further into the treatment of water and waste water market in the republic.
Goldis' 90 per cent-owned subsidiary, Gold Water (Shanghai) Co Ltd (GWSH), entered into an investment agreement with Xu Yong and Yang Hai Bing to incorporate the company.
JSGW has a proposed registered capital and paid-up capital of RMB20 million. GWSH holds a 90 per cent stake in the company.
Goldis, in its filing to Bursa Malaysia, said JSGW's business scope is municipal and industrial water and waste water treatment.
"GWSH will fund its share of participation in JSGW through internally-generated funds and borrowings," Goldis said.
Source: Business Times; Kuala Lumpur
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