Symmetry Group board approves formation of wholly owned UAE subsidiary

By MG News | Category Equity | September 06, 2024 at 11:58 AM GMT+05:00

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September 06, 2024 (MLN): The Board of Directors of Symmetry Group Limited (PSX: SYM) has approved the formation of the wholly owned subsidiary in UAE, according to the company's latest filing on PSX.

"This subsidiary will pave the way for global launch and scaling of the intellectual properties (products), developed in-house," the notification reads.

The management further noted that this new entity will enhance Symmetry Group's credibility and provide greater access to business opportunities across the GCC and international markets.

It will also offer increased flexibility in forming partnerships, joint ventures, and securing international contracts.

Moreover, this strategic move will enable more efficient financial structuring and operational optimization, while exploring innovative business opportunities and global strategic investments.

"Symmetry Group Limited is committed to continuous improvements and delivering value to its shareholders," the notice concludes.

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