JAKARTA - PT Eterindo Wahanatama Tbk (ETWA) will dilute its portions in three of its subsidiaries. This plan is made with an intention to improve its financial condition and keep the business afloat.

In the information disclosure quoted Thursday (25/5), said plan will be carried out through new shares issuances in those three subsidiaries. ETWA's portion in PT Malindo Persada Khatulistiwa (MPK) will be down from 99.99% to 29.22%, as would its portion in PT Maiska Bhumi Persada (MBS) from 99.99% to 31.56%, and in PT Anugerahinti Gemanusa (AG) from 99.59% to 33%.

The parties that will take over new shares issued by those subsidiaries consist of PT Jasa Prima Lintas Perkasa (JPLP) and PT Sakti Manunggal Milenial Pratama (SMPP).

The owmership dilution plan will be further discussed and decided during the Extraordinary General Shareholders Meeting of ETWA on June 30. In the future, these subsidiaries' financial statements will not be consolidated into ETWA's own sheet.

As of now, AG records total assets of IDR 849.52 billion, MBS IDR 286.94 billion, and MPK IDR 342.73 billion. (LK/ZH)