OUE incorporates 8 new subsidiaries
Six are investment holding firms.
OUE Limited (OUE) incorporated eight new wholly-owned subsidiaries in Singapore, it said in an announcement.
Viribus Pte Ltd is an investment holding company under OUE subsidiary OUE Arbon Pte Ltd. It has an issued share capital of $25.
Five other investment holdings firms included Ortise City Pte Ltd, Okra Century Pte Ltd, Ozard Crest Pte Ltd, Haricot Luxury Pte Ltd, and Rampion Bright Pte Ltd.
All five are 100% owned by Viribus and were given an issued share capital of $1 each.
Rampion World Pte Ltd, a real estate development firm, also joined the lineup. It is 100% owned by Rampion Bright Pte Ltd.
Meanwhile, Anise Link Pte Ltd, also owned by OUE Arbon, has an issued share capital of $25. It will offer trustee, fiduciary, and custody services.
OUE does not expect the action to affect company performance for the financial year.