JAKARTA. PT MPX Logistics International Tbk (MPXL), a transportation and trading company that was recently listed on Indonesia Stock Exchange (IDX), had introduces its latest subsidiary, PT MPX Indorental Gemilang (MPIG).

Wijaya Candera, President Director of MPXL, mentioned that this new subsidiary is formed with an authorised capital of IDR 10 billon, consisting of 100 thousand shares. Meanwhile, its issued and paid-up capital consists of 25 thousand units of shares worth IDR 2.5 billion.

For this subsidiary establishment, MPLX injects capital worth IDR 2.49 billion or approximately 24,950 shares. Meanwhile, the remaining portion belongs to Ye Hun Ki, Director of MPXL.

In its articles of incorporation, MPIG is established to carry out rental business. In order to realise this objective, MPIG will be able to lead business activities, starting from the construction equipment rental for operators, rental and operating lease of machine and construction equipment, land transportation rental, and other specific constructions.

According to IDNFinancials data, MPXL made its debut as a stock exchange member after its initial public offering (IPO) last May. In said IPO, the company managed to collect fresh funds of IDR 43.2 billion over 400 million units of issued shares. (KR/ZH)