Subsidiary1 Sept 2026, 06:40 pm
Premier Energies Incorporates Singapore Subsidiary, Restructures Battery Business
AI Summary
Premier Energies Ltd announced board approval for the incorporation of a wholly-owned subsidiary in Singapore, 'PE Horizon Pte. Ltd.', to engage in clean energy trading and consulting. The company will invest up to SGD 1,00,000. Additionally, Premier Energies approved an intra-group shareholding reorganization where its stake in Premier Energies Storage Solutions Private Limited (PESSPL) will be transferred to Premier Battery Technologies Private Limited (PBTPL) via a share swap. PBTPL will issue equity shares to Premier Energies, making PESSPL a step-down subsidiary of Premier Energies. This move aims to consolidate battery and energy storage businesses under PBTPL.
Key Highlights
- Incorporation of a wholly-owned subsidiary in Singapore for clean energy business.
- Initial investment of SGD 10,000 in the Singapore subsidiary.
- Intra-group shareholding reorganization approved.
- Consolidation of battery and energy storage businesses under PBTPL.
- No change in ultimate beneficial ownership or control.
Price Impact
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