JAKARTA. PT Communication Cable Systems Indonesia Tbk (CCSI), a fibre optic cable manufacturer, has established a new subsidiary to support its business.

Irawan Mario N. Palilingan, Director and Corporate Secretary of CCSI, said that this subsidiary is called PT CCSI Konektivitas Digital (CKD). In the official statement, Palilingan revealed that CKD was formed with an authorised capital of IDR 23.2 billion, as well as an issued and paid-up capital of IDR 5.8 billion.

CCSI controls 99.99% of shares of said subsidiary. The remaining portion goes to Peter Djatmiko, President Director of CCSI.

“The reason behind this subsidiary formation is to support the business activities of the company,” Palilingan added.

According to IDNFinancials data, CCSI recorded cash and cash equivalent of IDR 39.09 billion until March 2023. Its total assets clocked up to IDR 758.41 billion, and its total equity was IDR 424.41 billion. (KR/ZH)