JAKARTA. PT Pelayaran Nely Dwi Putri Tbk (NELY), a company engaged in the transportation and logistics sector, has formed a new subsidiary in Singapore with an investment worth SGD 1 million or approximately IDR 12 billion.

Ria Novriani Putri, Corporate Secretary of NELY, mentioned that said subsidiary is called Pelayaran Nelly Dwi Putri SG Private Limited (NELY SG). This subsidiary is located at 7 Duke’s Road, Singapore.

“The intention and purpose of this company is to engage in the industry of shipping companies, including ship-chartering and boat with crew (Freight/50021),” Putri added.

NELY SG reports an authorised capital of SGD 1 million. For the record, NELY acts as the controller of NELY SG’s entire shares.

Putri added that NELY SG is believed to provide positive impact on NELY’s own revenue and net profit as the sole shareholder. “NEL SG is a company established in order to expand the company’s business,” she added.

According to IDNFinancials data, NELY reported cash and cash equivalent of IDR 96.25 billion as of March 31, 2024. Total assets were at IDR 8565.38 billion, and total equity were at IDR 781.58 billion. (KR/ZH)