JAKARTA. PT Kobexindo Tractors Tbk (KOBX) has established a new subsidiary under the name PT Kobexindo Equipment.

Martio, Director of KOBX, said that the establishment of the new subsidiary was carried out to support the company's business activities. The business sector that will be carried out by Kobexindo Equipment is leasing (KBLI 77399).

In an information disclosure on the Indonesia Stock Exchange (IDX) today, Martio said that Kobexindo Equipment was founded with an authorized capital of IDR 8 billion. Meanwhile, the issued and fully paid capital of Kobexindo Equipment is IDR 2 billion.

KOBX is listed as the controlling shareholder of Kobexindo Equipment, with a 99% share ownership portion. While the remaining 1 share is owned by PT Infraforce Equipment.

"The formation of this subsidiary does not have a material impact on the company's operations, law, financial condition or business continuity," said Martio. (KR/LM)