The said Joint Venture Company is equally owned (50:50 investments owned directly or through subsidiary/affiliates) by Greenply Industries and Alkemal Singapore Pte.

The Joint Venture Company will, subject to necessary regulatory approvals, acquire and own 100% share of Greenply Industries (Myanmar) which was incorporated as a wholly-owned subsidiary of Greenply Industries for setting-up of a Veneer or Veneer-cum-Plywood Unit in Myanmar.