JAKARTA. PT Armada Berjaya Trans Tbk (JAYA), a motorized transportation company for general goods, has channeled fresh funds of IDR 1.3 billion to one of its subsidiaries, namely PT Aman Bae Sentosa (ABS).

Darmawan Suryadi SM, Main Director of JAYA, said the funds were channeled in the form of a loan. "The background for affiliated transactions with ABS is related to working capital needs," said Darmawan, through an official statement.

According to data from idnfinancials.com, JAYA had IDR 8.55 billion in cash and banks as of September 30 2022. The company's total assets were recorded at IDR 125.01 billion, and its total equity was IDR 117.32 billion.

Meanwhile ABS is a subsidiary of JAYA with 99.99% share ownership. ABS has been running the real estate business since 2021, and has total assets before elimination of IDR 11.25 billion. (KR/LM)