JAKARTA. PT Erajaya Swasembada Tbk (ERAA), a retailer specialised in telecommunication devices, has formed another joint venture (JV) through one of its subsidiaries, PT Era Sukses Abadi (ESA).

The JV was established by ESA alongside PT Perjuangan Anak Muda (PAM). This new enterprise is called PT Mitra Belanja Selalu (MBS), serving as a holding company and other management consultancy service provider.

For this JV establishment, ESA invested IDR 52.22 billion or 51% of the shares, whereas PAM brought in IDR 50.17 billion or taking over 49% of the shares.

“The establishment of JV will bring impact in the form of the addition of business lines owned by the company,” said Amelia Allen, Head of Legal Affairs and Corporate Secretary of ERAA, in the official statement.

Until June 30, 2024, ERAA recorded quite a solid position on its cash and cash equivalent record of IDR 1.49 trillion. Its total assets were seen totalling IDR 23.78 trillion, while the equity reached IDR 8.46 trillion. (KR/ZH)