JAKARTA. PT Samudera Indonesia Tbk (SMDR), a logistics and shipping company, has channelled extra capital of IDR 17.6 billion to one of its subsidiaries, PT Cumawis.

This capital injection is given along with the capital increase of Cumawis of 17.6 thousand shares, each of which is worth IDR 1 million.

SMDR’s portion in Cumawis after this capital raise shoots up to 99.98% from the initial 99.90%. The remaining 0.02% goes to PT Samudera Wadah Mitra.

Farida Helianto Sastrosatomo, Director of Compliance and Corporate Secretary of SMDR, said that the extra capital is channelled to reinforce the capital structure of Cumawis. “As well as becoming one of strategic measures to promote investment and its business. Therefore, it is expected to increase revenue contribution to the company,” she added.

According to IDNFinancials data, SMDR recorded cash and cash equivalent of USD 372.08 million until the end of September 30, 2023. Its total assets were recorded at USD 1.21 billion, while its total equity was at USD 655.93 million. (KR/ZH)