JAKARTA - PT Indo Straits Tbk (PTIS), a company that operates a marine services business and logistical support, announced the establishment of a new subsidiary in the mining services sector.
Ronny A. Hendrawan, corporate secretary of PTIS, explained that the new subsidiary was established under the name PT Straits Mining Services. The company's total share ownership in Straits Mining is 99% or equivalent to IDR 9.95 billion.
"The establishment of this subsidiary will provide opportunities for wider coverage in the mining industry services, especially for coal and minerals," said Hendrawan through an official statement obtained by idnfinancials.com.
In addition, Hendrawan said that PTIS management was optimistic that the mining industry would gradually recover this year. Therefore, it is believed that the establishment of Straits Mining will expand the scope of PTIS's business in the future.
According to idnfinancials.com data, as much as 81.82% of PTIS shares are controlled by Straits Corporation Pte. Ltd., which headquarter is in Singapore. Meanwhile, the remaining 18.03% are owned by public investors and 0.15% by one of the company's directors. (KR/VA)