Century Plyboards subsidiary Century Ply Singapore Pte, has written-off its entire investments in its subsidiary, P T Century Ply Indonesia.

The company stated that, P T Century Ply Indonesia was incorporated to find the possibilities of trading in timber, manufacturing and trading in plywood, etc. in Indonesia, but after an indepth analysis of the current industrial and marketing scenario in Indonesia, the company has not made any business turnover since its incorporation and its net-worth constitutes, only a negligible part of the consolidated net worth of the company.

Further, writing-off of the aforesaid investments by Century Ply Singapore Pte would have no material implication on its functioning or that of company and with this P T Century Ply Indonesia has also ceased to be a step-down subsidiary of Century Plyboards (India), with effect from April 5, 2018.

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