PT Indo Straits Tbk established a subsidiary engaged in the mining services business named PT Straits Mining Services on March 23, 2021.

The company controls as much as 99% of shares or around Rp9.94 billion in this new business entity.

"The establishment of this subsidiary will provide opportunities for wider service coverage in the mining industry, especially coal and minerals," said Indo Straits Corporate Secretary Ronny Hendrawan in his explanation to the Stock Exchange on Friday (26/3).

He added that establishing a new subsidiary in the mining services business will expand the scope of business services to customers. The company can also continue to improve its financial performance.

"We believe that the business situation, especially in the mining industry, will gradually begin to improve this year," he explained.