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Adi Sarana Armada to inject Rp 9.99 billion into subsidiary

24 July 2019 06:53

JAKARTA - PT Adi Sarana Armada Tbk (ASSA) plans to inject capital of Rp 99.99 billion into its subsidiary PT Adi Sarana Investindo.

According to ASSA Corporate Secretary Hindra Tanujaya, the capital injection will be used by Adi Sarana Investindo to finance the company’s expansion.

“The company will inject the capital from internal cash,” Mr Tanujaya wrote in an information disclosure to the Indonesia Stock Exchange (IDX), Tuesday (23/7).

Currently ASSA is focusing on developing its subsidiary to increase the company’s revenue aside from the vehicle rental business. (MS)

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