JDW Sugar Mills approves wholly owned subsidiary in UAE

JDW Sugar Mills Limited has approved the establishment of a wholly owned subsidiary in the United Arab Emirates, according to a notice filed with the Pakistan Stock Exchange and the Securities and Exchange Commission of Pakistan.

The decision was taken by the company’s board and disclosed under Sections 96 and 131 of the Securities Act, 2015, read with Clause 5.6.1(a) of the PSX Regulations.

The company stated that the subsidiary will be set up subject to applicable laws. It said the move is intended to create new business opportunities and support its operational objectives.

JDW Sugar Mills Limited was incorporated in Pakistan on 31 May 1990 as a private limited company under the Companies Ordinance, 1984. It was converted into a public limited company on 24 August 1991.

The principal activities of the company include the production and sale of crystalline sugar, generation of electricity, and management of corporate farms.