XIDELANG Holdings Ltd has formaliszed a partnership with Xia ZiXuan to establish a shoe manufacturing plant in Indonesia.
Following market surveys and evaluations conducted in late 2023, the partnership aims to create long-term value.
A local entity, PT NBF Shoes and Clothing, was incorporated in November 2023 to facilitate initial project activities.
Both Xidelang and Xia hold equal equity interests in the company, which has an initial capital of approximately RM 2.7 million.
Details on the total investment and operational strategy are still under discussion, and further updates will be provided as the project progresses. — TMR