JAKARTA. PT Trisula Textile Industries Tbk (BELL) has introduced its latest subsidiary called PT Trimas Bellindo Aparel Manufaktur (TBAM).

Heru Jatmiko Harrianto, Director of BELL, mentioned that TBAM was formed with an authorised capital of IDR 40 billion, which consist of 40,000 shares worth IDR 1 million each. Meanwhile, the issued and paid-up capital of TBAM is IDR 20 billion, made up of 20,000 shares worth IDR 1 billion each.

In this subsidiary formation, BELL channels capital investment worth IDR 19.8 billion or approximately 99% of TBAM’s issued and paid-up capital. Meanwhile, the remainder, IDR 200 million or 1% of TBAM’s shares, are paid-up from PT Mido Indonesia.

TBAM is located in Sukoharjo, Central Java. Heru Jatmiko Harrianto will act as President Commissioner, while Kartono Budiman steps in as director.

“The formation of TBAM does not cause any material impact on operational activities, legal status, financial condition or business sustainability of the company,” Harrianto said. (KR/ZH)