AKR Corporindo provides Rp 12.75 billion capital to subsidiary
JAKARTA. PT AKR Corporindo Tbk (AKRA) has announced a capital injection of Rp 12.75 billion for PT AKR Niaga Indonesia (ANI), a subsidiary that engages in trade and distribution.
The additional capital has upped ANI's placed and paid-up capital to Rp 13.75 billion from previously Rp 1 billion. "The funds obtained by ANI will be used to finance its subsidiaries and supports its operational activities," said AKRA Director Jimmy Tandyo in a stock exchange filing.
Currently AKRA has a 99.99% stake in ANI for a value of Rp 13.75 billion, while the remaining 0.01% is owned by PT Andahanesa Abadi.
In November 2020, AKRA formed a subsidiary called PT Anugerah Kimia Indonesia (AKI) through ANI as a joint venture with Petronas Chemical Marketing Sdn Bhd.
The joint venture will engage in the distribution of chemicals. For starters, the company will distribute methanol, with a possibility of distributing other products in the future. (KR/MS)