JAKARTA. PT Adi Sarana Armada Tbk (ASSA), a transportation and logistics company, has reportedly allocated capital injection worth IDR 2.2 billion to one of its subsidiaries engaged in the logistics service, PT Adi Sarana Logistik (ASL).

Jerry Fandy Tunjungan, Corporate Secretary of ASSA, mentioned that said capital investment is linked to the increase of issued and paid-up capital of ASL of IDR 5.5 billion. With this increase, ASL’s issued and paid-up capital will rise to IDR 181.61 billion from the previous IDR 176.11 billion.

Other shareholders of ASL, PT Roda Bangun Selaras and Top Haze Limited, have also increased their investments by the same portion. Thus, this corporate action does not change ASSA’s or other shareholders’ portions in ASL.

“In conducting its business, ASL requires extra capital, which, in turn, may generate positive contribution for the company,” said Tunjungan in the official statement.

According to IDNFinancials data, ASSA reported total assets of IDR 7.66 trillion at the end of Q1 2024, with cash and cash equivalent of IDR 839.59 billion. Meanwhile, its total equity clocked up to IDR 2.68 trillion. (KR/ZH)