JAKARTA. PT Surya Esa Perkasa Tbk (ESSA) has granted extra capital worth IDR 1.78 trillion to one of its subsidiaries, PT Sepchem.

Shinta D. U. Siringoringo, Corporate Secretary of ESSA, claimed that said capital injection was given in order to increase the issued and paid-up capital of Sepchem to IDR 3.61 trillion. Previously, Sepchem recorded issued and paid-up capital of IDR 1.83 trillion.

After this issued and paid-up capital raise, ESSA’s portion in Sepchem was recorded at 99.99%. Meanwhile, the remainder belongs to Isenta.

Siringoringo further added that Sepchem’s capital reinforcement is done through the transfer of 10.54% of PT Panca Amara Utama. “The company now holds 70% of Panca Amara Utama’s shares through its subsidiary, PT Sepchem,” Siringoringo mentioned in the information disclosure in Indonesia Stock Exchange (IDX).

According to IDNFinancials, ESSA recorded cash and cash equivalent of USD 147.52 million until December 31, 2022. The company’s total assets were totaled to USD 831.3 million, while its total equity reached USD 525.36 million. (KR/ZH)