TVS Holdings sets up arm in Singapore for investments and acquisitions

TVS Holdings Ltd. (formerly Sundaram-Clayton Ltd.) on Thursday established a wholly-owned subsidiary in Singapore to carry out overseas acquisition/investment activities.

TVS Holdings (Singapore) Pte. Ltd. has not yet commenced operations. TVSH said in a regulatory filing that it had issued share capital of S$1 per share, which was fully subscribed by the parent company.

Meanwhile, TVS Supply Chain Solutions Ltd. (TVS SCS) announced the voluntary liquidation of its subsidiary TVS SCS International Freight Singapore Pte. Ltd. Established a corporation (TVS SCS IFS) as part of streamlining the ownership structure of overseas subsidiaries.

It was resolved by voluntary arrangement. TVS SCS IFS is dormant and is not a material subsidiary, TVS SCS said.

TVS Srichakra Ltd. has entered into an agreement with its wholly owned subsidiary, Super Grip Corporation, USA (formerly SG Acquisition Corp), to provide an unsecured loan of $5 million at an interest rate of 6%. Repayment is possible within 3 years from the date of payment.