JAKARTA. PT Sinar Mas Multiartha Tbk (SMMA) announced that the company injected Rp 31.25 billion in additional investment into PT Rizki Lancar Sentosa (RLS), its subsidiary in the property business, which has a total asset value of Rp 546 billion.
Doddy Susanto, President Director of SMMA, said that the additional investment does not exceed 20 percent of the company's equity. "Means that the capital participation is not material in nature," explained Susanto through a disclosure published on the Indonesia Stock Exchange's website today.
SMMA's stake in RLS was recorded at 99.9998% (Rp 455.5 billion). While the rest is owned by PT Shinta Utama.
According to the data gathered by idnfinancials.com, SMMA had injected additional capital of Rp 278 billion into RLS in 2019.
For information, SMMA is the controlling company of PT Bank Sinarmas Tbk (BSIM), with a stake of 58.13 percent. (KR/AR)