JAKARTA. PT Lautan Mitra Kreasi (LMK), one of many subsidiaries of PT Lautan Luas Tbk (LTLS), has received extra capital worth IDR 300 million.

Said capital injection is brought in by one of LMK’s investor, Ng Ping Gien. With this additional capital, Ng Ping Gien’s portion in LMK also increases from 200 shares to 500 shares.

Meanwhile, LTLS’s portion in LMK, owned through PT Lautan Natural Krimerindo (LNK), remains the same at 4,750 units. The remaining shares, amounting to 1,300 units of shares, are still owned by Mariana. After this capital injection, LMK’s issued and paid-up capital rose from IDR 6.25 billion to IDR 6.55 billion.

Joshua C. Asali, Director of LTLS, confirmed that this capital distribution to LMK is categorised as an affiliate transaction, as ruled by the Financial Services Authority (OJK). “PT Lautan Mitra Kreasi is a subsidiary of PT Lautan Natural Krimerindo, which is a subsidiary of our company,” he explained in the information disclosure.

On top of extra capital, LMK also changes up its management structure, welcoming Juwono Hartono as the new director. Prior to Hartono, the director position was held by Luis Rompis. (KR/ZH)