JAKARTA. PT FKS Multi Agro Tbk (FISH) has channelled out additional capital investment of IDR 17 billion to one of its subsidiaries, PT FKS Solusi Logistik.
Sofia Ridmarini, Corporate Secretary of FISH, confirmed that the additional funds given by the company to FKS Logistik have now reached IDR 379.65 billion. Previously, the issued and paid-up capital of FKS Logistik only amounted to IDR 362.65 billion.
“The company owns 99% of FKS Logistik. Therefore, this affiliate transaction is exempted from the obligation to utilise any appraisal report,” Ridmani explained in the information disclosure in Indonesia Stock Exchange (IDX).
The reason behind the additional investment made by FISH in FKS Logistik is not fully disclosed. Nevertheless, FISH reported having cash and cash equivalents of USD 43.06 million by the end of September 2021 based on idnfinancials.com data. It equals IDR 618.22 billion.
For the record, FKS Logistik is a Jakarta-based company under FISH. It is established with an intention to focus on the consultancy and management business. As of September 30, 2021, FKS Logistik recorded total assets of USD 25.98 million. (KR/ZH)