JAKARTA - PT Hartadinata Abadi Tbk (HRTA), a jewelry manufacturer, is investing IDR 12.6 billion in a precious metal refinery.

Sandra Sunanto, Main Director of PT Hartadinata Abadi Tbk (HRTA) said that the company is working with PT Emas Murni Abadi (EMA), an affiliated company. "Companies use EMA services for the processing and refining of precious metals," he said as quoted in the information disclosure, Friday (27/1).

The transaction value is below 20% of HRTA's total equity as of September 2022 of IDR 1.67 trillion. Thus, the transaction value is not categorized as material referring to the Financial Services Authority Regulation (POJK) 17/2020.

It is known, EMA was formed on September 20, 2020 with an authorized capital of IDR 8 billion and issued and fully paid capital of IDR 2 billion. HRTA is the owner of 99% of the total issued and paid up capital of EMA. (LK/LM)