JAKARTA. PT AKR Corporindo Tbk (AKRA) has increased capital in its subsidiary PT Anugerah Krida Retailindo (Akrida) by Rp 20 billion.
AKRA Director Suresh Vembu said AKRA's total capital placed in Akrida now amounts to Rp 266.66 billion. "Akrida's placed and paid-up capital has increased by Rp 20 billion, fully placed and paid up by the company," said Mr Vembu in information disclosure at the Indonesia Stock Exchange (IDX) on Tuesday (19/3).
Akrida will use the funds as capital and to support its subsidiary's operations. Thus, AKRA owns a 99.99% stake in Akrida while the remaining 0.01% is owned by PT AKR Niaga Indonesia.
In 2018 AKRA posted a net profit of Rp 1.64 trillion, up 37% year on year. (KR/MS)