Genting Singapore PLC has announced that its direct wholly-owned subsidiaries, Calidone Limited and Genting International Services Singapore have incorporated a subsidiary, Genting International Services (Thailand) Limited.
GISTL will be principally engaged in marketing and public relations activities and promoting the business to the leisure and hospitality sector, but excluding direct sales to customers.
GISTL has an issued share capital of THB100,000 (US$2,833) comprising of 20,000 shares, which are divided into 9,800 ordinary shares of THB5 each and 10,200 preferences shares of THB5 each. The preference shares are owned by Thai shareholders and the 9,800 ordinary shares are owned by Calidone Limited and Genting International Services Singapore, according to the announcement.
The incorporation is not expected to have any impact on the consolidated net tangible assets and earnings per share of the Company for the financial year ending 31 Dec. 2016, the announcement adds.