JAKARTA. PT Bukaka Teknik Utama Tbk (BUKK), through one of its subsidiaries, PT Bukaka Mega Investama, has formed a new subsidiary called Bukaka International LLC in Oman.

Irsal Kamarudin, President Director of BUKK, mentioned that Bukaka International is established with an authorised capital of OMR (Omani Riyal) 3 million, equal to IDR 122 billion. The issued and paid-up capital of this new subsidiary is also set to OMR 3 million, split into 3,000 shares.

In this subsidiary formation, BUKK takes over 2,850 shares, equal to IDR 115.9 billion, while the remaining shares are acquired by PT Bukaka Mega Investama.

Bukaka International will carry out business activities in wielding repair, metal structure product repair and maintenance, oil and natural gas extraction services, as well as manufacture of oil refinery and industrial structures. “The establishment of Bukaka International LLC will lead to potential additional income and profit for the company as one of the shareholders,” added Kamarudin in the official statement.

According to IDNFinancials data, BUKK reported consolidated cash of IDR 356.38 billion as of September 30, 2023. Total assets clocked up to IDR 7.74 trillion, and total equity was worth IDR 4.34 trillion. (KR/ZH)