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| Exchange Disseminated Time | With reference to the earlier letter dated October 01, 2014, Asian Paints Ltd has now informed BSE that PT Asian Paints Indonesia has been incorporated in Indonesia as a wholly owned subsidiary of Berger International Limited, Singapore (an indirect subsidiary of the Company). Further steps to be taken for setting up the manufacturing plant with a capacity of 24,550 ton in Indonesia will be subject to necessary regulatory and other approvals.
Further, a second application for investment approval was made with Badan Koordinasi Penanaman Modal ("BKPM"), the Investment Coordinating Board of Republic of Indonesia, for incorporating a second Company in Indonesia which will engage in import of finished goods including decorative paints, other coatings and related items for sale in Indonesia. BKPM has issued a principal license approving the said investment application. |
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