Engineering Post Report
Treet Corporation Limited is setting up a wholly-owned subsidiary in the United Arab Emirates (UAE) with initial capital of $ 100000 and provision of a corporate guarantee for its associate company, Loads Limited.
The new subsidiary, Treet Trading LLC, will be based in Dubai Economic Development Zone, Mainland, UAE .
This subsidiary will be fully incorporated following completion of the requisite legal proceedings through the Pakistan Stock Exchange.
Treet Corporation was also seeking a cross-corporate guarantee of Rs 1.5 billion for Loads Limited. This guarantee, according to the Treet Corporation sources, will help and support the working capital facilities of Loads Limited from development financial institutions and banks.
