JAKARTA. PT Catur Sentosa Adiprana Tbk (CSAP), the issuer that owns the Mitra10 building materials supermarket, has established a new subsidiary called PT Catur Sentosa Adiprima (CSAD).

Surjati Tanril, Director of CSAP, said that CSAD will later run a large trading business, food, soft drinks and daily goods. This subsidiary is owned directly by the company with 99% share ownership, through PT Catur Sentosa Anugerah (CSAN).

"The aim of establishing the CSAD entity is to distribute consumer goods including food, drinks and daily goods," said Tanril.

The basic capital for establishing CSAD is IDR 4 billion, while the issued and paid-up capital is IDR 1 billion. "CSAN has took over DR 999 million," explained Tanril.

Tanril added that CSAD's financial reports will later be consolidated into CSAP's financial reports. He also emphasized that the establishment of CSAD did not have a negative impact on the company's business, operational or financial sustainability. (KR/LM)