JAKARTA. PT Astra Otoparts Tbk (AUTO), the automotive components manufacturer under Astra Group, injects capital investment worth IDR 23.28 billion in PT Toyoda Goseio Indonesia (TGID).
Wanny Wijaya, the Director of AUTO, explains that this additional investment is given out to TGID to maintain AUTO’s stock portion at 20%. TGID plans to utilise this additional capital to support its business activities.
“This capital would be directed to capital expenditure and investment purposes,” Wijaya claims in the information disclosure in Indonesia Stock Exchange (IDX) earlier today (5/7).
As an additional record, TGID is a joint component factory established by AUTO and Toyoda Gosei Co Ltd. According to idnfinancials.com data, Toyoda Gosei is a spare parts manufacturer from Japan.
TGID was established by AUTO and Toyoda Gosei in 2018, investing IDR 64.32 billion. Currently, Toyoda Gosei is reported to own 80% of TGID. (KR/ZH)