JAKARTA. PT Adi Sarana Armada Tbk (ASSA), an issuer engaged in the transportation sector, has channelled extra investment of IDR 28.99 billion to one of its subsidiaries, PT Adi Sarana Transportasi (ASTA).

Jerry Fandy Tunjungan, Corporate Secretary of ASSA, mentioned that said investment is granted as a form of support from the company to the subsidiary’s business. “ASTA, in its business conduct, requires extra capital, which will then be expected to offer positive contribution to the company,”he added in the official disclosure.

With this extra capital investment, ASSA’s portion in ASTA, however, remains stable at 99.99%. The remaining 0.01% belongs to Prodjo Sunarjanto Sekar Pantjawati.

According to IDNFinancials data, ASTA is a subsidiary engaged in the transportation management service since 2019. It was formerly known as PT Kargo Bersama Teknologi (KBT). ASTA’s total assets before elimination were recorded at IDR 187.02 billion.

In the meantime, ASSA’s cash and cash equivalent was seen at IDR 688.28 billion as of September 30, 2023. Its total assets were recorded at IDR 7.25 trillion, while its total equity is worth IDR 2.66 trillion. (KR/ZH)