Daya Materials Bhd announces incorporation of sub- subsidiary company

Thursday, 23 Jan 2014 07:00pm EST 

Daya Materials Bhd:Says Daya Maxflo Sdn Bhd (formerly known as Maxflo Energy Products Sdn Bhd, a 50.70% owned subsidiary of Daya Petroleum Ventures Sdn Bhd, which in turn is a 51.00% owned subsidiary of the company had on Jan. 20 incorporated a limited liability company known as PT Daya Maxflo.Says DMB was incorporated as a limited liability company with an authorised and fully paid-up share capital of $250,000 divided into 250,000 ordinary shares of $1.00 each.Says PTDM’s paid-up share capital is owned 80% by DMSB and the remaining 20% is owned by Rollin Mahaputra Rahmat Shah, an Indonesian private investor.Says the principal activity of PTDM is to provide, trade, import and distribute oil and gas products and services to the oil & gas industry in Indonesia.