JAKARTA - Tolaram Group Inc has reportedly increased its investment in PT Bank Amar Indonesia Tbk (AMAR) by IDR 9.96 billion, bringing its portion up from 70.44% to 70.63% of the total shares of Bank Amar.

Gaby Diovani, Corporate Secretary of Bank Amar, confirmed that the acquired shares clock up to 35.2 million units of IDR 284 each. After this transaction, Tolaram’s portion goes up from 12.94 billion to 12.98 billion shares.

Tolaram Group Inc is the major shareholder of Bank Amar. It is based in British Virgin Island. Until March 31, 2023, AMAR’s shares reportedly reached 18.38 billion units, 70.44% of which were controlled by Tolaram Group Inc. Investree Singapore Pte followed behind with 13.88%, and the public of 15.724%.

Until December 2022, AMAR recorded interest income of IDR 655.70 billion, shifting from IDR 482.22 billion in 2021. However, it recorded IDR 155.38 billion of loss, shrinking from the profit of IDR 4.11 billion in 2021. (LK/ZH)