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Lianhetech to set up Singaporean subsidiary to initiate international presence
Jul. 18, 2016
On July 14, Lianhetech announced spending $2 million of its own funds on the establishment of a wholly-owned subsidiary, to be registered in Singapore in the name of Lianhetech Singapore Pte. Ltd. The company name and scope of business are subject to final registration.
Lianhetech said the creation of the Singaporean subsidiary was an important beginning to establish an international business presence for the company. Experience gained from this venture over time will be used to expand the company's business presence to other countries and regions.
The set-up of a wholly-owned subsidiary outside of PR China has yet to be evaluated and approved by Chinese authorities, including Zhejiang Provincial Development & Reform Commission, Zhejiang Provincial Department of Commerce, and Taizhou Municipal Administration of Foreign Exchange.
Source: AgroNews
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