JAKARTA. PT Temas Tbk (TMAS), a shipping and container transportation service provider, has introduced a new subsidiary called PT Temas Depot Jatim (TDJ).

The establishment of this subsidiary is carried out through PT Temas Depot (TD), one of TMAS’s subsidiaries. TDJ is located in Surabaya, and is projected to be responsible for depot management service.

TDJ took up IDR 20 billion of investment as authorised capital. Approximately 99.9% of TDJ’s shares belong to TD, leaving another 0.1% to TMAS.

“The purpose of the formation of PT Temas Depot Jatim is to expand the company’s supporting business activities, especially in the depot management sector for East Java region,” Marthalia Vigita, Corporate Secretary of TMAS, said in the official disclosure.

Vigita said that this new subsidiary establishment is expected to smooth out the operational activities of TMAS. On top of this, this new subsidiary is believed to generate positive contribution to the company’s consolidated revenue.

According to IDNFinancials data, TMAS recorded cash and cash equivalent of IDR 1.29 trillion until December 31, 2023, while its assets and equity clocked up to IDR 4.4 trillion and IDR 2.2 trillion. (KR/ZH)