JAKARTA. PT Lautan Luas Tbk (LTLS), a chemical distributor, has reportedly granted extra capital to one of its subsidiaries, PT Lautan Solusi Airindo (LSA).

Keyne Fredella Kristanto, Corporate Secretary of LTLS, said that the capital injection is channelled through PT Pacinesia Chemical Industry (PCI). The amount of this additional investment in LSA is IDR 6 billion.

Kristanto said that this capital investment is made in order to increase its authorised and issued & paid-up capital of LSA to IDR 23 billion. Prior to this, the authorised and issued & paid-up capital of LSA is only IDR 17 billion.

“This capital increase is a form of support from PCI to LSA to expand its water treatment business initiated by LSA since 2019,” Kristanto said in the official disclosure.

After this additional capital, PCI’s portion in LSA remains stable at 99.52%, while the remaining goes to Indrawan Masrin.

It is worth mentioning that LTLS is under the process of consolidating all of its water treatment businesses. The company aims that in early 2024, all water treatment businesses have been consolidated under PCI using a new company brand. (KR/ZH)