Travel Food Services Limited has informed the Exchange regarding 'Incorporation of step-down subsidiary'.
TRAVELFOOD · price
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Travel Food Services has set up a new step-down subsidiary, PT Travel Food Services Indonesia, in South Jakarta on 23rd September 2025. The entity was incorporated by Travel Food Services Worldwide – FZCO, the company's wholly owned subsidiary, which will hold 99.99% of the share capital. The Indonesian arm has been created to explore opportunities for running food and beverage outlets at travel locations in Indonesia. The newly formed company has an authorised capital of IDR 10 billion (about 10 billion Indonesian Rupiah) and share subscription is still pending, to be done as per local Indonesian requirements. Since the entity is freshly incorporated, no turnover or financial history exists yet.
This is a greenfield international expansion into Indonesia, signalling the company's growth ambitions beyond India in the travel-food space. Near-term impact on earnings is unlikely since the entity is just being set up, but it opens a new geography for future revenue.