JAKARTA. PT Maharaksa Biru Energi Tbk (OASA) has reportedly established a new subsidiary in late January (29/1).

This subsidiary will be called PT Mentari Biru Biomassa (MBB). The subsidiary establishment had been recognised by the Minister of Law and Human Rights No. AHU-008665.AH.01.01.TAHUN2024 on January 31, 2024.

Chandra Devikemalawaty, Director of OASA, said that the ownership portion of the company in MBB is 2,700 shares or equal to 90%. “It is worth IDR 2.7 billion,” she mentioned in the information disclosure.

Devikemalawaty further mentioned that the establishment of MBB is carried out to support OASA’s business performance. “It is in order to generate operating profit regularly,” she added.

According to IDNFinancials data, OASA recorded cash and cash equivalent of IDR 44.01 billion as of September 30, 2023. Meanwhile, total assets were recorded at IDR 740 billion, and total equity clocked up to IDR 656.55 billion. (KR/ZH)