JAKARTA - PT Pakuan Tbk (CUAN) channels capital worth IDR 220.65 billion for 441,303 shares of IDR 500 thousand each in PT Vasamty Land Sawangan (VLS), its joint venture established alongside Samty Asia Investments Pte Ltd (SAI).

In the short prospectus quoted Wednesday (12/6), this capital injection is meant to maintain UANG’s portion in VLS. Authorised capital of VLS is recorded at IDR 10 billion now, with issued and paid-up capital of IDR 10 billion, as well. UANG controls 51% of them, while SAI holds another 49%.

With this transaction, UANG projects an increase of its average revenue of IDR 1.5 billion per annum.

As of December 2023, its total assets were at IDR 1.67 trilion, up from IDR 1.45 trillion seen in 2022. Total liabilities also increased from IDR 1.21 trillion to IDR 1.25 trillion, while total equity shifted up to IDR 456.19 billion from IDR 241.74 billion. (LK/ZH)