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Yieh Phui increases investment in Indonesia subsidiary

22 Sep 2022 17:32 reported by Donna Huang

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On September 21, Yieh Phui announced that its subsidiary Hongyu Asset Management increased a US$12.4 million investment in its Indonesia subsidiary EFI PT E UNITED FERRO INDONESIA. Yieh Phui said this is the investment inside of group companies. The purpose is to increase operating funds to balance the influence of operation difficulties in this first half year.

EFI PT E UNITED FERRO INDONESIA mainly produces and processes ferronickel products. E United Group started to plan and develop the business unit in 2018.

After the investment, Hongyu will have 2.98 million stocks of EFI PT E UNITED FERRO INDONESIA and account for 61.89%.

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