JAKARTA – PT Adaro Energy Indonesia Tbk (ADRO) will reduce the capital of three of its subsidiaries worth IDR 43.30 billion. Said capital will be reassigned to Adaro International (Singapore) Pte Ltd (AIS), another subsidiary in the coal marketing segment.

According to the prospectus quoted Wednesday (1/2), three subsidiaries of ADRO in question are PT Maruwai Coal (MC), PT Lahai Coal (LC), dan PT Juloi Coal (JC). ADRO reportedly controls 83.90% of each of those companies.

Specifically, the management listed that MC will have IDR 13.69 billion of its capital cut off, while LC and JC will get IDR 21.90 billion and IDR 7.69 billion cut, respectively.

Furthermore, the management said that this capital decrease is intended to simplify and synchronise Adaro Group’s business lines to reach maximum efficiency, strength, and flexibility.

AIS was previously known as Coaltrade Services International Pte Ltd (CSI), a company based in Singapore, before finally changing its name on August 18, 2022. It was first formed on September 26, 2000. (LK/ZH)