JAKARTA. PT United Tractors Tbk (UNTR) has given a capital injection worth IDR 249 billion to one of its subsidiaries, PT Karya Supra Perkasa (KSP).

This extra capital was put in following the issuance of 249 thousand units of new shares of KSP, the entirety of which is taken over by UNTR. “After increasing the ownership, the company now possessed 3,625,900 shares in KSP,” Sara K. Loebis, Corporate Secretary of UNTR, explained in the official statement.

As of now, UNTR’s stock ownership in KSP is equal to approximately 99.97% of KSP’s issued and paid-up capital. Meanwhile, the remaining 0.03% belongs to oleh PT United Tractors Pandu Engineering.

“The company’s purpose in increasing its ownership portion in KSP is to grant extra capital for KSP to cover its operational activities,” Loebis added.

According to IDNFinancials record, KSP is a holding company for construction businesses of UNTR. Established in 2015, this subsidiary now has total assets before elimination of IDR 2.25 trillion.

KSP also manages several business entities engaged in various business activities, ranging from construction services to mining services. Some of those companies in question include PT Acset Indonusa Tbk (ACST), PT Tambang Karya Supra, PT Innotech System, and PT Bintai Kindenko Engineering Indonesia. (KR/ZH)