JAKARTA (Yosefardi) – PT Indomobil Sukses International Tbk (IMAS) said its unit PT IMG Sejahtera Langgeng (IMGSL) has on Monday (Sep 2) boosted its authorized capital to Rp1 trillion from previous Rp600 billion.
While its total issued and paid-up capital is raised to Rp624.96 billion from earlier Rp584.96 billion.
In July 23, 2013, Autobacs Seven Co., a major retailer of car-related goods, said it was going to form joint venture (JV) partnership with Salim Group as part of its strategy to expand its overseas business.
Autobacs will control 49% stake in the Indonesian joint venture, while its partner, PT Central Sole Agency, a 100% subsidiary of PT Indomobil Sukses Internasional Tbk, is responsible for the rest.
The JV will engage in wholesale business of car parts and accessories in Indonesia, claimed to be ‘a business that has a great potential in the Indonesian market according to its rapid growth of economy’.