JAKARTA. PT AKR Corporindo Tbk (AKRA) has channelled an extra capital worth IDR 5.27 billion to one of its subsidiaries, PT Anugerah Krida Retailindo (Akrida).

This capital injection was given to boost issued and paid-up capital of Akrida to IDR 705.87 billion. Prior to this, Akrida’s issued and paid-up capital was stuck at IDR 700.59 billion.

“The issued and paid-up capital increase is equal to IDR 5.27 billion, acquired and fully paid by the company,” Suresh Vembu, Director and Corporate Secretary of AKRA, said in the official statement.

Vembu also mentioned that the proceeds gained by Akrida will be further utilised to support its business and the capitalisation of its subsidiaries.

According to IDNFinancials data, AKRA recorded cash and cash equivalents of IDR 1.79 trillion until March 31, 2023. Its total assets were also recorded at IDR 23.83 trillion, while its total equity was worth IDR 13.81 trillion.

Akrida is AKRA’s subsidiary that is engaged in the trading business, as well as the holding company. Established in 2018, this subsidiary recorded total assets before elimination of IDR 1.31 trillion in March 2023. (KR/ZH)