JAKARTA. PT United Tractors Tbk (UNTR) has announce the liquidation or dissolvement of PT Anugerah Gunung Mas (AGM), its subsidiary owned through PT Tuah Turangga Agung.

Sara K. Loebis, Corporate Secretary of UNTR, mentioned that the winding up of AGM has been stated in the Letter of the Ministry of Law and Human Rights dated June 6, 2024.

“Therefore, the ministry has recorded the legal termination of AGM and thus removed it from the company list in the Legal Entity System of the Ministry of Lw and Human Rights,” said Loebis in the information disclosure last Thursday (4/7).

Loebis added that AGM is dissolved as it has yet to conduct any operational activities since its initial establishment. “The liquidation of the subsidiary does not materially affect operational activities, legal, and financial condition of the company as of now,” she said.

Furthermore, Loebis then mentioned AGM’s termination is a part of the company’s strategy to focus on active and productive business entities. Moreover, the company ascertains that each subsidiary provides real contribution to the company’s growth and sustainability.

According to IDNFinancials data, UNTR’s stock price at today’s trading session reportedly was opened weakly, down 100 points or 0.42% to IDR 23,600. However, since the beginning of this year, it has shifted up 125 points or 0.53%. (KR/ZH)