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Forming another subsidiary, Mahaka Radio Integra to invest IDR 9.9 billion

26 August 2022 06:02

JAKARTA. PT Mahaka Radio Integra Tbk (MARI) has introduced its latest subsidiary, PT Studia Kreasi Bersama (SKB), owned indirectly through one of its existing subsidiaries, Creative Audio Stream Technology Pte Ltd (CAST).

Adrian Syarkawi, President Director of MARI, confirmed that SKB will be established with an authorised capital of IDR 10 billion, comprising 10 million shares of IDR 1,000 each. CAST is listed as the controller of 99.99% of SKB’s shares worth IDR 9.99 billion.

“The intention of this transaction is to develop a creator management and content commercialisation company,” Syarkawi further explained in the information disclosure in Indonesia Stock Exchange (IDX).

For the record, CAST is a company that is also indirectly owned by MARI through PT Mahaka Digital Inovasi (MDI). Through MDI, MARI claims 67.60% of CAST’s shares.

Until June 30, 2022, MARI recorded cash and cash equivalent of IDR 285.43 billion. It was higher than the number seen in the same period last year of IDR 31.7 billion. (KR/ZH)

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