Wilmar forms new subsidiaries in China

Hong Kong money-changer with yuan symbol signHong Kong money-changer with yuan symbol sign

Wilmar announced Thursday the formation of several new subsidiaries.

Yihai Kerry Arawana Oils, Grains & Food, or YKA, an indirect 99.99 percent owned subsidiary of Wilmar, has formed a direct subsidiary called Yihai Kerry (Hefei) Oils & Grains Industries, or YK Hefei, Wilmar said in a filing to SGX Thursday

YK Hefei has registered capital of 300 million yuan (S$60.63 million) and will engage in flour and rice milling and packaging of edible oils, Wilmar said.

YKA also formed another direct wholly owned subsidiary called Yihai Kerry (Guangzhou) Food Industries, or YK Guangzhou, the filing said.

YK Guangzhou has registered capital of US$200 million (S$272.54 million) and will be involved in oilseeds crushing, edible oils refining, specialty fasts processing and rice milling, Wilmar said.

In addition, Qinhuangdao Goldensea Foodstuff Industries, or QHDGS Foodstuff, was split into two separate companies, the existing company QHDGS Foodstuff and newly incorporated Qinhuangdao Goldensea Biotechnology (QHDGS Biotechnology), Wilmar said.

QHDGS Biotechnology will be wholly owned by Wilmar China Northeast Investments, which is a direct, wholly owned subsidiary of YKA, the filing said.

Under the split, some assets of QHDGS Foodstuff were transferred to QHDGS Biotechnology, which has registered capital of US$3.5 million and will engage in the production of feed yeast, Wilmar said.

QHDGS Foodstuff will continue to process protein and refine and package edible oils, it said.

 

Follow Shenton Wire on Telegram

Get the Shenton Wire morning briefing in your inbox