JAKARTA. PT AKR Corporindo Tbk (AKRA) has disbursed a capital injection of IDR 22.6 billion for PT Anugerah Krida Retailindo (Akrida), a subsidiary that runs the trading and distribution business of fuel oil (BBM).

Suresh Vembu, Director & Corporate Secretary of AKRA, said that the capital injection was given in order to increase the authorized capital as well as issued and paid up capital to IDR 700.6 billion. Previously, Akrida's issued and paid-up capital was only IDR 677.99 billion.

With the capital injection that has been distributed, AKRA's shareholding portion in Akrida is now 99.99%. Meanwhile, the remaining 0.01% shares are owned by PT AKR Niaga Indonesia.

"This transaction is not a material transaction as referred to in POJK No. 17/POJK.04/2020," said Vembu, in his official statement.

According to idnfinancials.com data, AKRA had cash and cash equivalents of IDR 4.37 trillion as of September 30, 2022. Meanwhile, the company's total equity was recorded at IDR 12.13 trillion. (KR/LM)