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United Global forms Australia JV; welcomes new institutional investor

Michelle Zhu Published on Thu, Mar 29, 2018 / 6:09 PM GMT+8

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SINGAPORE (Mar 29): United Global says its wholly-owned subsidiary, United Oil, has agreed to incorporate a joint venture (JV) company in Australia with PFR Management and DP United to import and distribute lubricant products manufactured by United Oil in Australia.

The company will be incorporated with a capital of A$100,000 with United Oil, FPR and DP United owning shareholding interests of 35%, 55% and 10%, respectively.

Both FPR and DP United are companies incorporated in New South Wales, Australia.