Pou Chen Subsidiary Injects $99.99 Million USD into Indonesian Operations

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(CNA Reporter, Taipei, 24th) Major footwear manufacturer Pou Chen Corporation stated today that its subsidiary, Pou Yuen Industrial (Holdings) Limited, is injecting capital into PT. Hardases Abadi Indonesia, totaling $99.99 million USD (approximately NT$3.14 billion).

Pou Chen pointed out that PT. Hardases Abadi Indonesia is a 100% directly and indirectly owned subsidiary of Pou Yuen Industrial (Holdings) Limited. The cash capital increase involves the issuance of 99.99 million new shares at a price of $1 USD per share.

Pou Chen stated that this capital increase is based on operational planning. 1150424