JAKARTA – PT Mayora Indah Tbk (MYOR), a leading fast-moving consumer goods (FMCG) company in Indonesia, plans to dissolve one of its subsidiaries in the Netherlands, Mayora Nederland BV.

Yuni Gunawan, Corporate Secretary of MYOR, stated that Mayora Nederland, which is 100% owned by the company, is no longer operational and has no future plans.

Mayora Nederland was originally established in connection with the issuance of the Global Medium Term Note Programme in 1996, where MYOR acted as the guarantor.

"Since the end of that program, the subsidiary has ceased all activities," Gunawan explained.

It has been noted that Mayora Nederland still carries liabilities of around IDR 35 billion in the liquidation process.

However, Gunawan believes the liquidation will have no impact on MYOR’s business or financial position and will even save operational costs.

As of September 2024, MYOR recorded a growth in sales to IDR 25.64 trillion, while net profit remained steady at IDR 2.06 trillion. By the end of Q3 2024, the company's cash and cash equivalents remained strong at IDR 4.5 trillion. (ZH)