PT Koka Indonesia Tbk (IDX: KOKA) officially announced the establishment of two new subsidiary entities as part of the company's business development strategy. This strategic step was taken to strengthen the company's position in facing the dynamics of the construction and trading markets, both domestically and globally.
The first subsidiary, PT Pacific Construction Group, is domiciled in North Jakarta and focuses on the construction and interior design sectors. In this entity, KOKA holds majority control with a 51 percent stake. The establishment of the company was legalized through a notarial deed and received official approval from the Ministry of Law of the Republic of Indonesia in the middle of this year.
Meanwhile, PT Koka Trading International, based in South Jakarta, was established to support wholesale trading activities in the construction sector. In this entity, KOKA holds a significant dominant ownership of 98 percent of total shares. This company is expected to become a driving force in the material supply chain for projects executed by the firm.
President Director of PT Koka Indonesia Tbk, Gao Jing, emphasized that the creation of these entities is an operational move to enhance efficiency and business reach. He ensured that this corporate action does not fall under the category of material transactions according to Financial Services Authority (OJK) regulations, thus having no sudden significant impact on the company's financial condition or legal aspects.
Management is optimistic that the presence of these two new subsidiaries will contribute positively to the company's future financial performance. Through this synergy, Koka Indonesia aims for more structured operational optimization, which will ultimately be reflected in the company's consolidated financial statements in upcoming periods.
