Indofood (INDF) established three subsidiaries in the shipping sector

ILLUSTRATION. Indofood (INDF) established three companies through one of its subsidiaries, namely Ocean 21 Holding.

Reporter: Nur Qolbi | Editor: Wahyu T. Rahmawati

KONTAN.CO.ID – JAKARTA. PT Indofood Sukses Makmur Tbk (INDF) established three new companies through one of INDF’s subsidiaries, namely Ocean 21 Holding Pte. Ltd. The three companies were founded under Singapore law.

The names of the three companies are Ocean Gold Pte. Ltd., Ocean Jade Pte. Ltd., and Ocean Perkasa Pte. Ltd. All of them are engaged in the shipping business.

In the disclosure of information on the Indonesia Stock Exchange, Thursday (1/10), INDF Corporate Secretary Victor Suhendra said that the total paid-up capital for each of these companies was US $ 100,000. This value is equivalent to IDR 1.45 billion, assuming an exchange rate of IDR 14,500 per US dollar.

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All of this paid-up capital is subscribed and paid up by Ocean 21 Holdings Pte. Ltd. as the holding company of the three subsidiaries. INDF assessed that the establishment of these three companies had no impact on events, information, or material facts on the operations, law, financial condition, or business continuity of INDF.

For your information, INDF is a company engaged in the industry of milling wheat into wheat flour which is integrated with subsidiaries in the branded consumer product industry, plantation and processing of palm oil and other crops, and distribution.

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