Mah Sing in Indonesia

Mah Sing in Indonesia

KUALA LUMPUR (Reuter): Mah Sing Group Bhd said yesterday that its 80 percent owned subsidiary, PT Mah Sing Indonesia, has entered into an agreement with Premium Vector Sdn Bhd to jointly set up a manufacturing company in Indonesia.

The joint venture company, PT Multi Plas Indonesia, will make and assemble plastic injection components mainly for the audio industry, Mah Sing said in a statement.

It said the initial issued and paid-up capital of PT Multi Plas would be US$3 million, of which Mah Sing would subscribe for 35 percent.

PT Multi Plas will set up a factory in Jakarta which is expected to be ready by the end of 1997, it added.