Pearl Global Industries Limited (PGIL) has announced the incorporation of a new subsidiary in Vietnam, named ‘Great Pearl Vietnam Global Limited’. This entity is a step-down subsidiary of PGIL, and its establishment marks an expansion into Vietnam’s garment manufacturing sector. The company will focus on garment production and processing services for both domestic and international markets. The initial investment for this venture is USD 1.2 million, with PGIL holding a 100% stake through its existing Vietnamese entity.
Expansion into Vietnam
Pearl Global Industries Limited (PGIL) has officially incorporated a new subsidiary in Vietnam, named Great Pearl Vietnam Global Limited. This strategic move signifies the company’s commitment to expanding its global manufacturing capabilities and leveraging Vietnam’s growing prominence in the apparel industry. The new entity is a step-down subsidiary, indirectly controlled by PGIL.
Operational Focus and Investment
Great Pearl Vietnam Global Limited will be engaged in manufacturing garments and providing comprehensive garment processing services, including embroidery. The subsidiary aims to cater to a diverse clientele, serving both domestic Vietnamese customers and international markets. The establishment of this new company involved an initial investment of USD 1.2 Million for the subscription of shares.
Ownership Structure
The incorporation details reveal that 100% of the paid-up share capital of Great Pearl Vietnam Global Limited is held by Vin Pearl Global Vietnam Limited. Vin Pearl Global Vietnam Limited, in turn, operates as a step-down subsidiary of Pearl Global Industries Limited, ensuring PGIL maintains full control over its new Vietnamese operations.
Regulatory Approvals
The incorporation process was facilitated through the Department of Finance Bac Ninh City – Business Registration and Enterprise Management Office, indicating adherence to local Vietnamese regulatory frameworks for business establishment.
Source: BSE
