Chinese Hi-Tech Company Invests in Indonesia Production Base

Zhenbang Intelligence, a high-tech enterprise in China, intends to use its own capital of not more than 11 million US dollars (about 79.2 million RMB) to set up a wholly-owned subsidiary, HOMEWOOD CONTROL PTE.LTD. in Singapore, and to set up a grandson company, PT HOMEWOOD CONTROL SOLUTIONS, through the subsidiary in Hong Kong and the subsidiary in Singapore in Indonesia, for the purpose of Construction of Indonesia production base.Its Indonesia grandson company has a registered capital of 20 billion rupiah, with a Hong Kong subsidiary holding 30% and a Singapore subsidiary holding 70% in the form of its own capital in money. The business scope includes R&D, production and sales of household appliances; computer software programming and technical services, etc. The company type is limited liability company. This investment is an important part of the overseas development strategy, which is conducive to expanding the international market, improving the overseas business capacity and service level, and meeting the needs of overseas customers; the source of funds is own funds, which will not adversely affect the company and is in line with the long-term development strategy.