JAKARTA. PT Waskita Karya (Persero) Tbk (WSKT) had channelled additional capital of IDR 2.58 billion to PT Waskita Modern Realti (WMR). WMR is a joint subsidiary established with PT Modernland Realty (MDLN).
Ratna Ningrum, Senior Vice President Corporate Secretary of Waskita Karya, claims that this capital participation was made through another subsidiary, PT Waskita Karya Realty (WKR). Through WKR, Waskita Karya claims 60% of WMR’s shares.
“The reasoning behind this transaction between WKR and WMR is related to the land acquisition for Vasaka City project development in Bekasi, West Java,” Ningrum clarified in the information disclosure in Indonesia Stock Exchange yesterday (7/9).
However, even with this additional capital, WKR’s portion in WMR remains the same, 60%. It is due to PT Bagasasi Inti Pratama, a subsidiary of MDLN, also channels extra capital to the company of IDR 1.72 billion. Thus, the percentage of Bagasasi Inti Pratama also remains stable at 40%.
For the record, WSKT and MDLN collaborated to establish WMR in 2018. This joint company is intended to develop the self-sustaining city in Bekasi, integrated with the Tanjung Priok-Cibitung toll road. (KR/ZH)