JAKARTA. PT Rohartindo Nusantara Luas Tbk (TOOL), a retail specialised in technical tools under the brand Nankai, has channelled extra capital to one of its subsidiaries, PT Micha Teknologi Indonesia Bersatu (MTIB).

Ronald Hartono Tan, President Director of TOOL, confirmed that the allocated extra capital amounts to IDR 2 billion. It will then bring its issued and paid-up capital up to IDR 3.25 billion from the initial IDR 1.25 billion.

“The funds received by MTIB will then be utilised as its working capital,” said Ronald in the official statement.

According to IDNFinancials data, TOOL controls 99.63% of MTIB after injecting this extra capital. Meanwhile, the remaining 0.37% of MTIB belongs to PT Rohartindo Maju Perkasa.

MTIB is a business entity engaged in trading and service industry. It started its commercial operation in 2022. Its total assets, as of 2023, were IDR 461.87 million.

Until the end of 2023, TOOL reported total assets of IDR 215.9 billion, followed by cash and bank of IDR 2.69 billion. Then, its total equity was recorded at IDR 192.17 billion. (KR/ZH)