JAKARTA. PT Central Omega Resources Tbk (DKFT) establishes a new subsidiary that will handle the business in the industrial area in North Morowali, Central Sulawesi.

This subsidiary is formed under the name PT Kawasan Industri Central Omega (KICO). DKFT reportedly spends IDR 9.99 billion worth of investment, which are equal to 99% of KICO’s shares. The remaining 1% goes to another subsidiary of DKFT, PT Mulia Pacific Resources (MPR).

Feni Silviani Budiman, Director of DKFT, claimed that investment in KICO is a strategic initiative. “It is intended to extend the scope of our business,” Budiman added in the official statement.

On February 16, 2023, DKFT had begun the application process for some of the required licenses. “Both in the central area and in the regions,” Budiman said.

According to IDNFinancials, DKFT recorded cash and cash equivalent of IDR 361.14 billion until September 30, 2022. Its total assets and equity clocked up to IDR 2.31 trillion and IDR 399.28 billion. (KR/ZH)