JAKARTA: PT Wintermar Offshore Marine Tbk shall establish a joint venture company with Singapore-based company, Lanpan Pte Ltd, by dominating 51% ownership.In the information disclosure sent to Indonesia Stock Exchange (IDX) today, the company ensured the amount of paid-in capital to establish the company will less than 20% of the total equity.Lanpan will control 49% share of the new company focusing on transporting construction equipment for offshore platforms.In the disclosure, it is also stated that the joint venture company shall have US$1 million of authorized capital while the placed and fully paid-in capital is US$600,000.Of the placed capital, WINS-coded company will put in US$306,000 while the remaining US$294,000 is placed by Lanpan.Wintermar's stocks have been traded in Indonesian stock market since 29 November 2010. The WINS-coded stock was priced IDR380 per share at the initial offering. (T02/NOM)
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