JAKARTA. PT Lautan Luas Tbk (LTLS) has increased the capital of its subsidiary, PT Lautan Air Murni (LAM), by IDR 2 billion.

Keyene Fredella Kristanto, Corporate Secretary of LTLS, mentioned that said additional capital is given alongside the increase of issued and paid-up capital to IDR 5 billion from IDR 3 billion. In addition, its authorised capital is bumped up to IDR 5 billion, consisting of 5,000 shares of IDR 1 million each.

For the record, LAM is a subsidiary indirectly owned through PT Lautan Air Indonesia (LAI). After this extra capital allotment, LAI’s portion in LAM increases to 99%, while the remaining 1% belong to Indrawan Masrin.

The reason behind this capital increase by LTLS to LAM remains unclear.

According to IDNFinancials data, LAM is an entity established in 2023 in Jakarta. It is engaged in the refill water manufacturing business line. However, as of March 31, 2024, LAM’s total assets were only IDR 2.93 billion. (KR/ZH)