Greenlam Industries Limited has informed the Exchange about General Updates
GREENLAM · price
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Greenlam Industries announced that its Singapore subsidiary (Greenlam Asia Pacific Pte. Ltd.) and Malaysia subsidiary (Greenlam Industries SDN. BHD.) jointly acquired the remaining 33% local shareholding in PT. Greenlam Indo Pacific, an Indonesian subsidiary. The Singapore subsidiary previously held 67% stake. Following this cash acquisition of IDR 825,000,000, the group now holds 100% ownership of the Indonesian entity. The deal is already completed. The purpose is to rationalize the group holding structure and minimize compliance requirements. The Indonesian subsidiary, incorporated in 2020, has turnover of IDR 13.17 billion for FY 2024-25 and deals in wholesale trading of high pressure laminates and wood-based products.
Minimal impact on operations as explicitly stated by the company. This is an internal group restructuring to consolidate ownership and reduce compliance burden. Shareholders should not expect any material impact on financials or stock price.