JAKARTA. PT Gudang Garam Tbk (GGRM) announced the establishment of PT Surya Kertaagung Toll, a subsidiary under the auspices of PT Surya Kertaagung, with an authorized capital of IDR 1.2 trillion.
Heru Budiman, Corporate Secretary of GGRM, explained that the company, through Surya Kertaagung, acquired 299,999 of Surya Kertaagung Toll shares. "Equivalent to IDR 299.99 billion," said Budiman through an information disclosure on the Indonesia Stock Exchange today.
In addition, Budiman explained that Surya Kertaagung Toll would be engaged in building and road construction business. Previously, the company only relied on the services of other contractors to work on a number of projects related to road infrastructure.
For the record, GGRM had cash and cash equivalents of IDR 5.56 trillion at the end of September 2020, 55.56% higher than its record in 2019. (KR/AR)