JAKARTA - PT Ricky Putra Globalindo Tbk (RICY) closed its subsidiary, PT RT Mahkota Globalindo (RTM), which operates in the distribution sector. Previously, this issuer had 12 subsidiaries in the garment product distribution line.

Agnes Hermien Indrayati, Corporate Secretary of RICY said that the company had closed PT RT Mahkota Globalindo (RTM), a subsidiary with direct 80% ownership on July 10, 2023. "The closure was carried out in connection with plans to downsize the company group in the context of transforming into an agile company," she said in a disclosure quoted Friday (12/1).

RTM was founded in 2013 with total assets of IDR 9.28 billion as of September 2023, the smallest among the issuer's 12 subsidiaries.

This issuer's sales fell to IDR 656.36 billion as of September 2023 from the same period in 2022 of IDR 901.94 billion. The total loss for the year was recorded at IDR 19.77 billion, down from IDR 21.06 billion.

Starting this year, RICY's share performance showed an increase. As of (11/1), the issuer's shares were recorded at IDR 118, up from last week (2/1) at the level of IDR 111 - IDR 114 per share. (LK/LM)