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AKR Corporindo has injected IDR 6 billion in fresh funds for its subsidiary

22 January 2021 20:42

JAKARTA - PT AKR Corporindo Tbk (AKRA) injected fresh funds, worth IDR 6 billion, for its subsidiary, PT Usaha Era Pratama Nusantara (UEPN).

The injection was given after UEPN increased its issued and paid-up capital to IDR 1.84 trillion from previously at IDR 1.83 trillion. After adding capital, AKRA remained as controlling shareholder of UEPN, with 99.99% ownership.

Suresh Vembu, Director & Corporate Secretary of AKRA, said that the capital injection was not included in material transactions category, as regulated by Financial Services Authority (OJK), because the additional capital value did not exceed 20% of the company's total equity.

Based on idnfinancials.com data, AKRA's total equity was recorded at IDR 8.51 trillion as of September 2020. Meanwhile, its total assets were recorded at IDR 18.36 trillion. (KR/VA)

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