Dian Swastatica Closes Three Subsidiaries
PT Dian Swastatica Sentosa Tbk (DSSA) closed its three indirectly owned subsidiaries after a year of not being productive or contributing to the company's income.
The three subsidiaries are Newspring Coal Resources Pte Ltd, Great Horizon Capital Pte Ltd, and Great Horizon Consulting Pte Ltd. The management of the company in an official statement, stated that it had received a notification letter of deregistration from the Accounting and Corporate Regulatory Authority (ACRA)-Singapore related to the company's application for the closure of an indirect subsidiary on June 15, 2021. Based on the company's 2020 financial report, the three companies is a subsidiary owned through PT DSSE Energi Mas Utama. Meanwhile, PT DSSE Energi Mas Utama is a subsidiary with ownership of 99.99% shares. Management stated that the closure of the indirect subsidiary did not have a significant impact on the company's financial condition. Dian Swastatica has converted the Mandatory Convertible Bonds (OWK) of the telecommunication issuer PT Smartfren Telecom Tbk (FREN) into shares. With this conversion, the share ownership of the company and its subsidiaries in Smartfren is around 19.9%, compared to the previous position of only 15%. Corporate Secretary Dian Swastatica Sentosa Susan Chandra explained that the converted shares were listed on the Indonesia Stock Exchange (IDX) on April 12, 2021. The investment will be listed in the company's statement of financial position in accordance with the market value of the shares.
|•SOURCE•| Image :DSSA |
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