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Tigaraksa Satria to entrust Smart Family to its subsidiary

24 June 2021 08:28

JAKARTA – PT Tigaraksa Satria Tbk (TGKA) to hand over Smart Family to its subsidiary, PT Tira Satria Niaga (TSN), following the Job Creation Act obliging a separation between direct retail business and major trading activities.

In the information disclosure quoted Thursday (24/6), TGKA’s assets transferred to TSN reach a total of IDR 37.92 billion. It involves transfers of stock supply of IDR 36.17 billion, fixed assets of IDR 830.32 million, employees’ accounts receivable of IDR 48.81 million, advanced payment and deposits of IDR 714.89 million, and another deposit of IDR 150 million.

Smart Family business diversion is expected to drive positive growth in TSN’s business expansion in the future.

TGKA has been managing four business units, including sales and distribution of consumer products, Smart Family products marketing, powder goods packaging, and gas and domestic needs fulfilment. (LK/ZH)

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