WMN incorporates Indonesian subsidiary

By Puspita Maylana Devi

ASX-listed firm Western Mining Network Limited (WMN) reported on Wednesday that it has incorporated an Indonesian subsidiary known as PT. WMN Indonesia (WMNI) with 99.8% direct ownership.

WMNI is now an approved Penanaman Modal Asing (PMA) Company under the Indonesian Law which allows up to 100% direct foreign ownership in an Indonesia company.

"In the future, WMN will hold and operate all Indonesian projects via WMNI," the company said in a statement made available at the exchange.

Editing by Er Audy Zandri