JAKARTA. PT Autopedia Sukses Lestari Tbk (ASLC), an auction and used car inspection, has allocated IDR 2.5 billion of fresh funds to introduce the latest subsidiary called PT Autopedia Gadai Jabar (AGJ).

Oky Handyko, Corporate Secretary of ASLC, said that AGJ will handle business activities in the conventional pawnbroker segment. The subsidiary is formed with an authorised capital of IDR 10 billion, as well as issued and paid-up capital of IDR 2.5 billion.

AGJ is established with 3 billion shares, of which ASLC only directly claims 1 share. The remaining shares belong to oleh PT Autopedia Sukses Gadai, another company directly owned by the company.

“The purpose of AGJ establishment is to expand the short-term financing facility services with vehicle as guarantee (pawn) in West Java region, which has extensive potential users,” Handyko explained in the official release.

Handyko also said that this business expansion may realise ASLC’s company vision to become a reliable omni-channel automotive marketplace. “As well as increasing the company’s financial performance in general in the future,” added Handyko. (KR/ZH)