PT Soechi Lines Tbk (IDX: SOCI) has officially expanded its business footprint in the sea transportation sector by establishing a new subsidiary entity named PT Andalan Samudra Bahari (ASB). This strategic move was reported through an information disclosure on the Indonesia Stock Exchange on Thursday (9/7).
The Central Jakarta-based company received a majority capital injection of 99.99 percent from PT Soechi Lines Tbk. The issued and paid-up capital contributed by the company reached IDR 12.499 billion out of a total capital of IDR 12.5 billion.
Paula Marlina, Corporate Secretary of PT Soechi Lines Tbk, explained that the establishment of ASB aims to serve as a primary support for the company's operational activities in shipping. This step is expected to optimize business performance in the shipping segment while ensuring the company's long-term business continuity.
Management emphasized that this corporate action has no material negative impact on the company's financial condition. In addition, the establishment of this new entity is confirmed not to cause any legal implications for the company's current or future operations.
