JAKARTA. PT Putra Mandiri Jembar Tbk (PMJS), through its subsidiary, PT Dipo Internasional Pahala Otomotif (DIPO), has established a new subsidiary called PT Mitdi Teja Otomotif (MTO).

Ie Putra, President Director of PMJS, said that several business lines to be handled by MTO is retail wholesale, as well as car and motorcycle reparation and maintenance.

For MTO formation, DIPO records 155,999 shares or 99.99% of the shares worth IDR 155.99 billion. Meanwhile, the remaining one share worth IDR 1 million belongs to Kart Wijaya.

“The fund source used for this transaction came from DIPO’s internal cash,” added Putra in the official statement.

Putra then said forming MTO is intended as a business expansion by PMJS through DIPO. “There is no material impact from this information or material fact on operational and legal activities, financial condition, and business sustainability of the company,” added Putra. (KR/ZH)