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ASSA sets up a joint venture with a China-based company

29 March 2021 16:20

JAKARTA. PT Adi Sarana Armada Tbk (ASSA), through its subsidiary, PT Tri Adi Bersama (TAB), is partnering with PT Semangat Bambu Runcing and FS Electronic Technology Co. Ltd. to establish a new joint venture.

Hindra Tanujaya, ASSA Corporate Secretary, mentioned that this joint venture would be called PT Krida Gawai Abadi (KGA), and it would operate in the communication gadget reparation services sector.

“The reason underlying this joint venture establishment was that TAB wanted to expand its business to other fields outside commercial postal services,” Tanujaya explained through information disclosure at Indonesia Stock Exchange today.

Furthermore, KGA was established with an authorized capital of IDR 10 billion and the paid-up capital of IDR 2.5 billion. During this setup, TAB provided a capital investment of IDR 1.7 billion.

According to idnfinancials.com data, FS Electronic Technology is a Printed Circuits Boards (PCB) manufacturing company whose headquarter is located in Shenzen, China. This company has become the PCB supplier for electronic industry needs throughout Asia and Europe for over 15 years. (KR/ZH)

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