JAKARTA. PT AKR Corporindo Tbk (AKRA), a fuel distributor and managing company of industrial zone, has channelled extra capital to one of its subsidiaries, Chemical Petroleoum International Trading Pte. Ltd. (CPIT).

Suresh Vembu, Director & Corporate Secretary of AKRA, mentioned that said capital injection will raise CPIT’s capital to SGD 6,736,000 from the initial SGD 100. This extra investment will not alter AKRA’s portion in CPIT, remaining at 100%.

“CPIT’s capital increase, worth SGD 6,735,900 (IDR 81.4 billion) will be used to support CPIT’s operational activities,” said Vembu in the official statement.

As of March 31, 2024, AKRA reported total assets of IDR 30.42 trillion with cash and cash equivalent of IDR 6.64 trillion. Meanwhile, total equity of AKRA was recorded at IDR 14.72 trillion.

At today’s first session opening, AKRA’s price was seen declining 25 points or 1.56% to IDR 1,575 per share until 9.39 AM WIB. However, its price has actually increased 75 points or 5% since the beginning of the year, or up 215 points or 15.81% within a year. (KR/ZH)