Sanneng Group Increases Capital in Indonesian Subsidiary by US$4 Million to Expand Operations

ASEAN Financial Special Report (Total 300 articles)

Central News Agency (CNA)

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(CNA, Taipei, May 12) Sanneng Group Holdings Co., Ltd. today announced on behalf of its subsidiary, East Gain Investment Limited, that it plans to increase capital in PT. Sanneng Asia Industry Indonesia by US$4 million to meet the needs of future operational scale expansion.

PT. Sanneng Asia Industry Indonesia is a wholly-owned subsidiary of East Gain Investment Limited.

Sanneng stated that the funding for the capital increase will come from its own funds and bank loans.

Sanneng Group Holdings Co., Ltd. is a leading brand in professional baking equipment. Its business scope includes the research and development, manufacturing, sales, and agency sales of various professional baking equipment and tools. Its operating model is primarily based on selling its own brands. 1150512

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