JDW Sugar Mills Limited has decided to set up a wholly owned subsidiary in the United Arab Emirates, according to a notice submitted to the Pakistan Stock Exchange and the Securities and Exchange Commission of Pakistan, Profit reported.
The company said the decision was approved by its board of directors and announced in compliance with the relevant provisions of Pakistan’s securities law and stock exchange rules. It added that the new subsidiary will be established in line with all applicable legal requirements.
According to the company, the step is intended to open new business opportunities and support its ongoing operations and objectives.
JDW Sugar Mills was established in Pakistan on 31 May 1990 as a private limited company and was later converted into a public limited company on 24 August 1991. Its main activities include the production and sale of sugar, electricity generation, and the management of corporate farms.
