The Directors of Pteris Global Limited (the “Company”) wish to announce the Company’s incorporation of a wholly-owned subsidiary, Pteris Global (India) Pvt Ltd (“Pteris Global India”) in Mumbai, India.
Pteris Global India was incorporated to facilitate the execution of the S$53 million Baggage Handling System project for the Chhatrapati Shivaji International Airport, also known as Mumbai International Airport. It will also serve the Company’s future business needs in India.
Pteris Global India is incorporated in the state of Maharashtra and has a current paid-up capital of Indian rupees 1 Lakh. The Company owns 100% of the issued share capital of Pteris Global India.
The incorporation of Pteris Global India is not expected to have any material impact on the consolidated earnings per share or consolidated net tangible assets per share of the Company for the current financial year.
None of the directors or substantial shareholders of the Company has any interest, direct or indirect, in Pteris Global (India) Pvt Ltd.
About Pteris Global
Pteris Global Limited, a Singapore Mainboard-listed company, is one of the world’s leading companies that designs and builds airport logistic systems such as Baggage Handling Systems, Air Cargo Handling Systems, In-flight Catering Systems and Express Courier Handing Systems. Headquartered in Singapore with subsidiaries in Malaysia, China, the Middle East, Canada and the United States, Pteris Global has completed more than 150 projects spanning across six continents and 40 countries.
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