JAKARTA. PT Adi Sarana Armada Tbk (ASSA) has distributed additional capital to PT Adi Sarana Transport (ASTA), a subsidiary that provides logistics transportation management services.

Jerry Fandy Tunjungan, Corporate Secretary of ASSA, said that the capital injection was given in the amount of IDR 20 billion. This corporate action increased the company's issued and fully paid-up capital in ASTA to IDR 120 billion, from the previous IDR 100 billion.

Meanwhile, ASSA's share ownership portion in ASTA remains at 99.99%. The remaining 0.01% is owned by Prodjo Sunarjanto Sekar Pantjawati.

"In running its business, ASTA needs additional capital, which is expected to make a positive contribution to the company," explained Tunjungan.

According to idnfinancials.com data, ASTA is a business entity founded in 2022. As of March 31 2024, ASTA had total assets of IDR 282.75 billion.

Meanwhile, ASSA's total assets were recorded at IDR 7.66 trillion, with cash and cash equivalents of IDR 968.56 billion. Meanwhile, total equity was recorded at IDR 2.68 trillion. (KR/LM)