JAKARTA. PT Mitra Investindo Tbk (MITI) announced the establishment of a new subsidiary called PT Karana Mitra Logistik (KML).

Ignatius Edy Suhardaya, Director of Finance at MITI, said that KML was founded through one of the company's subsidiaries, namely PT Pelayaran Karana Line (PKL). KML was founded with authorized capital of IDR 10 billion, and total issued and fully paid-up capital of IDR 22.5 billion.

In establishing KML, PKL owned 99% of the shares. The remaining 1% of KML shares are owned by Bambang Ediyanto.

"The purpose of establishing KML is to support the business activities of PKL which is a subsidiary of the company," said Edy, in his official statement.

According to idnfinancials.com data, MITI had cash and cash equivalents of IDR 157.40 billion as of June 30 2024. The company's total assets were recorded at IDR 492.47 billion and its total equity was IDR 430.83 billion. (KR/LM)