JAKARTA. PT AKR Corporindo Tbk (AKRA) has channelled extra capital to one of its subsidiaries, PT AKR Sea Transport (AST).

Jimmy Tandyo, Director of AKRA, mentioned that the additional capital investment is related to the increase of issued and paid-up capital of AST to IDR 274.9 billion. Prior to this, AST’s issued and paid-up capital was IDR 194.9 billion.

“Approximately IDR 80 billion is taken over and paid by the company,” Tandyo confirmed in the information disclosure in Indonesia Stock Exchange (IDX).

This extra capital brings AKRA’s portion in AST to 99.99%, leaving 0.01% to PT Usaha Era Pratama Nusantara.

In the future, Tandyo said that the capital will eventually be used to acquire vessels. “It is to promote operational activities of AST,” he added,

According to IDNFinancials data, AST is a company listed under AKRA, engaged in the domestic shipping business since 2013. As of June 30, 2023, AST recorded total assets before elimination of IDR 561.17 billion. (KR/ZH)