Volcano Berhad announced that the company had on 21 March 2024 incorporated a new 99.99% owned subsidiary, PT Volcano Tec Indonesia (VTI), a limited liability company under the laws of Indonesia (the Incorporation). VTI was incorporated with an approved share capital of IDR 10,000,100,000 divided into 100,001 shares, each share having a nominal value of IDR 100,000. VB shall own 99,991 shares or 99.99% and the balance of 10 (Ten) shares or 0.01% shall be owned by Mr. Yunianto.

The intended principal activity of VTI is to carry out the business of producing and trading of nameplates, die-cut parts, and its related products in Indonesia.