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TLDN provides capital injection of IDR 84 billion for 2 subsidiaries

27 May 2022 09:25

JAKARTA. PT Teladan Prima Agro Tbk (TLDN) has provided an injection of funds worth IDR 84 billion to its 2 subsidiaries, namely PT Telen Prima Sawit (TPS) and PT Daya Lestari (DL), for working capital needs.

The amount of capital injection provided by TLDN for TPS is IDR44 billion and for DL ​​IDR40 billion. The capital injection is given at the same time as the increase in the paid-up capital of TPS and DL, all of which are taken up by TLDN.

TPS will later use the capital injection funds for working capital for the construction of a kernel crushing plant. This processing facility will be built in East Kutai and has a capacity of up to 100 tonnes of palm kernel per day.

Meanwhile, DL will use the capital injection funds for capital expenditures for the construction of a biogas power plant in East Kutai. This power plant is planned to have a capacity of 1.2 Megawatts (MW).

For the record, the provision of the capital injection is in accordance with the planned use of TLDN Initial Public Offering (IPO) funds. In the prospectus that has been submitted, the company plans to allocate around 15 percent of the IPO funds for capital deposit to TPS and 14 percent for DL.

TLDN is an agribusiness company that listed shares on the Indonesia Stock Exchange in April 2022. In the IPO, the company raised fresh funds of around IDR 300 billion. (KR/LM)

 

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