JAKARTA. PT TBS Energi Utama Tbk (TOBA) has channelled an extra capital worth IDR 19.06 billion to one of its subsidiaries, PT Toba Bumi Energi (TBUE).

Alvin F. Sunanda, Director of TOBA, claimed that said capital is given as a way to participate in the increase of issued and paid-up capital of TBUE. TBUE has just issued 3,812 new shares, which TOBA claims in its entirety for IDR 5 million each.

“Therefore, as of now, TBUE’s issued and paid-up capital clocks up to 32,814 shares or approximately IDR 164.07 billion in total,” Sunanda mentioned in the official statement.

Sunanda further added that this extra capital works as a financial aid for TBUE to support its future business plan. With this additional funding, TBUE is expected to generate its own revenue.

“Currently, there has been no other alternatives to initiate a transaction with other parties besides the shareholder to attain TBUE’s business objectives,” Sunanda said.

According to IDNFinancials record, TBUE has commercially operated since 2007. This company is engaged in the management consultancy and headquartered in East Kalimantan. Until September 30, 2022, TBUE recorded total assets before elimination of USD 44.53 million. (KR/ZH)