FAP Agri secures dividends of IDR 19 billion from its subsidiary

13 August 2021 19:11

JAKARTA. PT FAP Agri Tbk (FAPA) has just received interim dividends from one of its subsidiaries, PT Riau Agung Karya Abadi (RAKA).

Henryzal M Panjaitan, Corporate Secretary of FAPA, announces in the information disclosure in Indonesia Stock Exchange (IDX) that the dividend had safely arrived today, on August 13, 2021. “The obtained interim dividends amount to IDR 19 billion,” Panjaitan adds.

Based on idnfinancials.com data, RAKA is a company that manages a palm plantation in Riau and has been running since 2001. FAPA owns 95% of RAKA’s shares as of March 31, 2021. For the record, RAKA’s total assets before elimination reach IDR 223.56 billion.

FAPA is also known to have received another interim dividend from RAKA of IDR 14.25 billion in Q1 2021. It had been disbursed twice, IDR 9.5 billion in January 2021 and IDR 4.75 billion in March 2021. Thus the total dividends that FAPA gains from RAKA have now totalled IDR 33.25 billion.

By the end of the first quarter of 2021, 80.75% of FAPA is under the control of Prinsep Management Ltd. PT Fangionoperkasa Sehati owns another 4.25%, while public investors share the remaining 15%. (KR/ZH)

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