Yihai Kerry Investments Co., Ltd. and Singapore Food Industries Pte. Ltd. Incorporates Associated Company
September 15, 2016 at 01:31 pm EDT
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Wilmar International Limited announced that its wholly-owned subsidiary, Yihai Kerry Investments Co., Ltd. and Singapore Food Industries Pte. Ltd. have incorporated a company, SATS Yihai Kerry Kunshan Food Co., Ltd., on 14 September 2016 in the People's Republic of China. SATS Yihai Kerry Kunshan, which is the Operating Company referred to in Wilmar's news release of 22 January 2016, has a registered capital of RMB 200,000,000 or approximately SGD 40.8 million. SFI will subscribe for 60% and YKI will subscribe for 40% of the registered capital of SATS Yihai Kerry Kunshan. Wilmar's investment in SATS Yihai Kerry Kunshan is not expected to have any material impact on the consolidated net tangible assets and earnings per share of Wilmar and its subsidiaries for the current financial year ending 31 December 2016.
Yihai Kerry Arawana Holdings Co., Ltd. specializes in the manufacture and marketing of food products, oils and food ingredients. The group offers edible and industrial animal and vegetable oils, edible fats, cereal products (rice, wheat, corn, soybeans, etc.), flour, noodles, animal feed, food additives, canned foods, etc.