JAKARTA - PT Supreme Cable Manufacturing & Commerce Tbk (SCCO) or Sucaco has injected Rp 60.70 billion in additional capital to its subsidiary PT Supreme Decoluxe. The injection has increased Sucaco's ownership in Supreme from 70% to 93% with a total value of Rp 78.22 billion.
In the company's stock exchange filing, Sucaco Director Nicodemus M. Trisnadi said the capital injection was a conversion of Supreme's debt to its parent company. "The capital injection serves as a long-term investment and to improve Supreme's financial performance," he said.
Supreme currently has Rp 17.52 billion in capital, while its shareholders prior to the injection consisted of Sucaco (70%), Yosaphat M.T. (16%), and Nihon Decoluxe Co Ltd (14%). Currently the company's shareholders consist of Sucaco (93%), Yosaphat M.T. (4%), and Nihon Decoluxe Co Ltd (3%). (LK/MS)