JAKARTA. PT Ace Hardware Tbk (ACES), a special retailer under Kawan Lama Group, has channelled extra capital worth IDR 30 billion to one of its subsidiaries, PT Omni Digitama Internusa (ODI).

Christy Kusumaatmaja, Corporate Secretary of ACES, said that this additional capital was given in relation to the increase of issued and paid-up capital of ODI to IDR 34.5 billion from the previous IDR 4.5 billion. “After this transaction is concluded, the ownership percentage of the company in ODI remains at 30%,” she clarified in the official statement.

The purpose of this affiliate transaction, said Kusumaatmaja, is to promote business expansion of ODI.

According to IDNFinancials data, ODI has been engaged in the industry and wholesale since 2016. ODI reported total assets of IDR 77.89 billion as of March 31, 2024.

ODI is also known as the developer of ruparupa.com, a digital platform specifically designed for products under Kawan Lama Group. They include brands of Ace Hardware, Informa, Selma, Ataru, Toys Kingdom, and Krisbow.

In the first quarter (Q1), ACES recorded total assets of IDR 8.01 trillion, with cash and cash equivalent of IDR 2.24 trillion. Meanwhile, its total equity was reported at IDR 6.39 trillion. (KR/ZH)