Jakarta - PT ESSA Industries Indonesia Tbk (ESSA) has officially established a new subsidiary called PT ESSA Sustainable Indonesia (ESI).

ESSA Sr Legal and Corporate Secretary Manager, Shinta DU Siringoringo, in a written statement on Monday (23/12) said that ESI is engaged in other management consulting activities with an issued and paid-up capital of 10,001 shares or IDR 10,001,000,000. 

ESSA owns 10,000 ESI shares or equivalent to IDR10 billion, which is 99.9% of the issued and paid-up capital. Shinta explained that ESSA also owns ESI indirectly through PT ESSA Chemicals Indonesia (ECI). The ownership amount of 1 ESI share is valued at IDR1 million.

ESSA, she continued, through ESI also established a new subsidiary named PT ESSA SAF Makmur (ESM).

The company is engaged in the organic basic chemical industry based on agricultural products, with an issued and paid-up capital of 10,001 shares or IDR10,001,000,000.

The company indirectly owns 6,201 ESM shares or IDR6,201,000,000.

“With the establishment of this new subsidiary, it is expected to improve and support ESSA's operational activities,” said Shinta.

The establishment of the new subsidiary has no impact on ESSA's operational activities, legal, financial condition, or business continuity. (DK/MT/LM)