Paiho Group Resolves to Change Investment Entity for Paiho Indonesia
Paiho Group announced a change in the investment entity for its Indonesian subsidiary, Paiho Indonesia, from Paiho Vietnam to Paiho Hong Kong, due to Vietnamese regulations. The total investment in Paiho Indonesia will increase to US$20 million, and a capital increase of US$120 million for Paiho Vietnam has also been decided.
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(Central News Agency, Taipei, 7th) Paiho Group announced today that its board of directors has resolved to change the investment entity for Paiho Indonesia. Originally, Paiho Group held 99% and Paiho Vietnam held 1%. However, due to Vietnamese regulations requiring local companies to be profitable for two consecutive years before investing overseas from Vietnam, and given that Paiho Vietnam currently does not meet the conditions, it was resolved to adjust the investment structure. The investment will now be made by Paiho Group and Paiho Hong Kong, holding 99% and 1% respectively.
Paiho Group stated that both Paiho Hong Kong and Paiho Vietnam are 100% owned subsidiaries, so there will be no significant impact on financial operations.
Paiho Group announced on January 7th this year that its board of directors resolved to increase the investment amount in Paiho Indonesia from the original US$5 million to US$20 million. Paiho Group would hold 99% and Paiho Vietnam 1%. The timing of capital injection would be based on the actual operational planning of the Indonesian plant and the progress of related asset construction, with phased investments made according to capital needs.
Paiho Group stated at the time that on December 24, 2024, after discussion and resolution by the audit committee and board of directors, Paiho Hong Kong International Trading Co., Ltd. and Paiho Vietnam Co., Ltd. would invest US$4.95 million and US$50,000 respectively to establish Paiho Indonesia Co., Ltd., with an authorized capital of US$5 million. As of now, the capital has not yet been actually invested. Considering future operational development needs and flexibility in capital deployment, it was proposed to increase the total investment amount in Paiho Indonesia to US$20 million and change the investment to be made by Paiho Group and Paiho Vietnam, holding 99% and 1% respectively.
Paiho Group stated today that its board of directors resolved to adjust the investment structure of Paiho Indonesia, with Paiho Group and Paiho Hong Kong investing 99% and 1% respectively.
In addition, Paiho announced today that its board of directors resolved that its subsidiary, Paiho Group Co., Ltd., would increase capital in Paiho Vietnam Co., Ltd., with a total transaction amount of US$120 million, for the purpose of long-term investment, to be carried out according to Paiho Vietnam's capital needs schedule.
As of now, Paiho Group Co., Ltd. directly holds 150 million shares of Paiho Vietnam Co., Ltd., amounting to US$150 million, with a shareholding ratio of 44.51%. Paiho Group Co., Ltd. indirectly holds 100% of Paiho Hong Kong International Trading Co., Ltd. Paiho Hong Kong directly holds 187 million shares of Paiho Vietnam Co., Ltd., amounting to US$187 million, with a shareholding ratio of 55.49%.
According to information on Paiho Group's official website, its main business operations include the production and sales of hook-and-loop fasteners, webbing (shoelaces), elastic bands, and jacquard mesh fabrics, supplemented by real estate sales such as apartments, commercial offices, or parking spaces. Its main operating entities are Jiangsu Paiho Composite Materials Technology Co., Ltd. and Dongguan Paiho Industrial Co., Ltd. located in China. To expand into the Southeast Asian market, Paiho Vietnam Co., Ltd. was established in 2016, and Paiho Indonesia Co., Ltd. is planned to be established in Indonesia in 2025. 1150507
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Central News
Seize the New Southbound opportunities and focus on the economic pulse of ASEAN. Central News Agency's "Southeast Asia Financial Information Network" daily selects multiple financial headlines from Thailand, Vietnam, Indonesia, Malaysia, the Philippines, and other countries. Whether it's new government policies, industry trends, or investment opportunities, it allows you to grasp key information in real-time, understand the market, and seize business opportunities.
(Central News Agency, Taipei, 7th) Paiho Group announced today that its board of directors has resolved to change the investment entity for Paiho Indonesia. Originally, Paiho Group held 99% and Paiho Vietnam held 1%. However, due to Vietnamese regulations requiring local companies to be profitable for two consecutive years before investing overseas from Vietnam, and given that Paiho Vietnam currently does not meet the conditions, it was resolved to adjust the investment structure. The investment will now be made by Paiho Group and Paiho Hong Kong, holding 99% and 1% respectively.
Paiho Group stated that both Paiho Hong Kong and Paiho Vietnam are 100% owned subsidiaries, so there will be no significant impact on financial operations.
Paiho Group announced on January 7th this year that its board of directors resolved to increase the investment amount in Paiho Indonesia from the original US$5 million to US$20 million. Paiho Group would hold 99% and Paiho Vietnam 1%. The timing of capital injection would be based on the actual operational planning of the Indonesian plant and the progress of related asset construction, with phased investments made according to capital needs.
Paiho Group stated at the time that on December 24, 2024, after discussion and resolution by the audit committee and board of directors, Paiho Hong Kong International Trading Co., Ltd. and Paiho Vietnam Co., Ltd. would invest US$4.95 million and US$50,000 respectively to establish Paiho Indonesia Co., Ltd., with an authorized capital of US$5 million. As of now, the capital has not yet been actually invested. Considering future operational development needs and flexibility in capital deployment, it was proposed to increase the total investment amount in Paiho Indonesia to US$20 million and change the investment to be made by Paiho Group and Paiho Vietnam, holding 99% and 1% respectively.
Paiho Group stated today that its board of directors resolved to adjust the investment structure of Paiho Indonesia, with Paiho Group and Paiho Hong Kong investing 99% and 1% respectively.
In addition, Paiho announced today that its board of directors resolved that its subsidiary, Paiho Group Co., Ltd., would increase capital in Paiho Vietnam Co., Ltd., with a total transaction amount of US$120 million, for the purpose of long-term investment, to be carried out according to Paiho Vietnam's capital needs schedule.
As of now, Paiho Group Co., Ltd. directly holds 150 million shares of Paiho Vietnam Co., Ltd., amounting to US$150 million, with a shareholding ratio of 44.51%. Paiho Group Co., Ltd. indirectly holds 100% of Paiho Hong Kong International Trading Co., Ltd. Paiho Hong Kong directly holds 187 million shares of Paiho Vietnam Co., Ltd., amounting to US$187 million, with a shareholding ratio of 55.49%.
According to information on Paiho Group's official website, its main business operations include the production and sales of hook-and-loop fasteners, webbing (shoelaces), elastic bands, and jacquard mesh fabrics, supplemented by real estate sales such as apartments, commercial offices, or parking spaces. Its main operating entities are Jiangsu Paiho Composite Materials Technology Co., Ltd. and Dongguan Paiho Industrial Co., Ltd. located in China. To expand into the Southeast Asian market, Paiho Vietnam Co., Ltd. was established in 2016, and Paiho Indonesia Co., Ltd. is planned to be established in Indonesia in 2025. 1150507
Stand with facts, every sponsorship you make is a force to protect press freedom.
Download the Central News Agency "First-hand News" APP to grasp the latest news in real-time.
The text, images, and audio-visual content of this website may not be reproduced, publicly broadcast, publicly transmitted, or utilized without authorization.