Business Standard

Ramco Systems sets up subsidiary in Philippines

The company will invest 11.75 million pesos initially, under automatic route of FEMA and related regulations

Ramco Systems sets up subsidiary in Philippines

BS Reporter Chennai
Ramco Systems is setting up a subsidiary, Ramco System Inc, in Philippines to carry on business operations in that country.

The company, in a regulatory filing today said that the initial subscription to share capital will be 11.75 million Pesos. The investment will be under automatic route of Foreign Exchange Management Act, 1999 and related regulations. The investment is subject to necessary regulatory approvals in respective overseas jurisdiction, it said.

The process of setting up the subsidiary is expected to be complete in two months.

Ramco Systems, part of the $1 billion Ramco Group of companies, is an enterprise software player offering cloud and mobile-based enterprise software in the area of HCM and Global Payroll, ERP and M&E MRO for Aviation.

 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Apr 16 2016 | 2:14 PM IST

Explore News