ADES to explore new business line: food and cooking oil manufacturing
JAKARTA. PT Akasha Wira International Tbk (ADES) will launch new business lines, covering food and beverages production and cooking oil manufacturing.
The management of ADES said that this new addition will be made after considering the quite rapid development of consumer-goods business in Indonesia. “It then inspires the company to further advance its consumer-goods business by establishing food and beverages manufacturing as a form of business expansion supplemental to the existing lines,” the management of ADES explained in the information disclosure.
Several new business activities established by the company include herbal drinks, spreads, frozen food, and cereal manufacturing. On top of those, ADES will also produce snacks, cooking oil, and jelly through tolling processes.
ADES has conducted a feasibility study regarding the addition of these new business lines. According to the report made by the Public Appraisal Service Office, the company is deemed fit and proper to carry out new business activities.
Despite the advanced progress of this plan, ADES will firstly ask for approval from its shareholders on June 21, 2023. The result will be publicly disclosed on June 23, 2023. (KR/ZH)