JAKARTA. PT Jasnita Telekomindo Tbk (JAST), a telecommunication company, has reportedly channelled an investment worth IDR 3.1 billion to one of its subsidiaries, PT Sakti Makmur Pratama (SMP).
Yentoro, President Director of JAST, claimed that said investment was placed in through the capital increase by SMP by offering 191,000 new shares worth IDR 100,000 each.
By purchasing those entire shares, JAST now has a claim over 190,993 shares of SMP, which are worth a total of IDR 19.09 billion. They make up 99.99% of SMP’s shares.
“Said decision was mentioned in the record of the Extraordinary General Shareholders Meeting No. 20 dated July 20, 2022,” Yentoro claimed in the disclosure page of Indonesia Stock Exchange website last Monday (15/8).
Based on idnfinancials.com data, JAST managed to secure cash and cash equivalents of IDR 612.32 million at the end of March 2022. The amount of cash recorded by the company at the end of the first quarter of 2022 significantly shrank from the number reported in the end of 2021, which once reached IDR 5.97 billion. (KR/ZH)