JAKARTA. PT Indika Energi Tbk (INDY), through two of its subsidiaries, PT Kalista Soter Hastia (KSH) and PT Kalista Nusa Armada (KNA), will form a new subsidiary with total investment worth IDR 6.25 billion.

This new subsidiary is formed under the title PT Kalista Biru Nusantara (KBN). KBN formation has been officially stated under Deed of Establishment No. 81 dated July 24, 2024, and was ratified by the Ministry of Law and Human Rights of Indonesia on August 2, 2024.

“KBN will conduct business activities for rental and lease-purchase without option rights for land transportation equipment not motorized vehicles with four or more wheels including rental and lease-purchase activities without option rights (operational leasing) for all types of land transportation equipment not motorized vehicles with four or more wheels (cars, buses, trucks and the like) without operators, such as motorcycles, caravans, campers, railway vehicles and the like,” explained Adi Pramono, Corporate Secretary of INDY, thoroughly in the information disclosure in Indonesia Stock Exchange (IDX).

Pramono further mentioned that KBN establishment is in line with INDY’s mission of business expansion to electric vehicle sector and its ecosystem.

According to IDNFinancials data, INDY reported total assets worth USD 3.13 billion as of June 30, 2024, with cash and cash equivalent of USD 783.49 million. Meanwhile, total equity reached USD 1.36 billion. (KR/ZH)