Glottis Limited to Incorporate Wholly Owned Subsidiary in Malaysia
Glottis Limited announced on March 19, 2026, that its Board of Directors has approved the incorporation and investment in a wholly owned subsidiary in Malaysia. The move is aimed at expanding the company’s operational reach and improving its ability to serve customers in the region.The proposed subsidiary, which has not yet finalized its name, will operate in the freight forwarding industry. Glottis Limited plans to invest up to USD$5,000 in the subsidiary, in one or more tranches, representing 100% of the share capital.
The subsidiary will be considered a related party to Glottis Limited and its other subsidiaries. Promoters, promoter group, and group companies do not have an interest in the transaction. The incorporation will be carried out in accordance with applicable laws in Malaysia.
Table: Details of the Proposed Subsidiary
| Particulars | Details | |
|---|---|---|
| 1 | Name of the target entity, date, details in brief such as size, turnover etc. | Proposed Name of Entities: Not Yet Finalized Date: Not yet finalized Country of Incorporation: Malaysia |
| 4 | Industry to which the entity being acquired belongs | Freight Forwarding. |
| 8 | Nature of consideration - whether cash consideration or share swap and details of the same | 100% subscription to initial paid-up capital is in Cash. Further, the investment will be in one or more tranches as per business requirement |
| 9 | Cost of acquisition or the price at which the shares are acquired | Proposed Investment: Up to USD$5,000/- |
| 10 | Percentage of shareholding / control acquired and/ or number of shares acquired. | 100% Subscription to the share capital |
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