Hap Seng Consolidated Berhad successfully dissolved its Indonesia PT MML Ceramic Indonesia when it received a notification from the Ministry of Law and Human Rights – Republic of Indonesia.
The operation is wholly owned by the group and was incorporated in Indonesia on 27 January 2015 as a private limited company. PT MML was principally involved in the trading and distribution of porcelain and ceramic tiles in Indonesia had ceased operation since 1 May 2020. It is a wholly-owned subsidiary of Malaysian Mosaic Sdn Bhd which in turn is the wholly-owned subsidiary of HSCB.
Prior to the dissolution, PT MML had an issued and paid-up share capital of Indonesia Rupiah 20,000,000,000 comprising 20,000 shares.
The group adds that the dissolution would not have any material effect on the earnings and net assets for the financial year ended 31 December 2022.
