eREX to set up fuel procurement subsidiary in Singapore
May 25 (Reuters) - eREX Co Ltd <9517.T>:* Says it will set up a wholly owned subsidiary, eREX Singapore Pte. Ltd, on June 1.* New subsidiary will be engaged in fuel trading business and transportation management business.* New subsidiary will be capitalized at $2 million, or about 220 million yen.* New subsidiary will start operation in mid-August .