United Overseas Bank Limited ('UOB') wishes to announce that its subsidiary Avatec.ai (S) Pte. Ltd. ('Avatec') has incorporated a subsidiary called PT Saat Keuangan Indonesia ('PT SKI') in Indonesia. PT SKI has an authorised share capital of IDR10,000,000,000. Its issued and paid up capital is IDR2,500,000,000 and its principal activities are finance and insurance, and information and communication (web portal and / or digital platforms with commercial purposes).
Avatec is a joint venture company between UOB (60%) and Pintec Technology Holdings Limited (40%).