JAKARTA - PT Summarecon Agung Tbk (SMRA) restructures its portion in PT Nusantara Selaras Sejati (NTSS), whose operation is located in Penajam Paser Utara, East Kalimantan.

Jemmy Kusnadi, Corporate Secretary of SMRA, mentioned that 2.49 million shares or 99.99% of shares in NTSS owed by the company have been transferred to PT Setia Mitra Edudharma (SMED), another subsidiary located in East Jakarta.

“With this transaction, direct control over NTSS will change into indirect ownership through SMED,” Kusnadi said in the information disclosure quoted Wednesday (21/8).

The transaction value of SMED’s acquisition of 99.99% of issued and paid-up capital of NTSS reaches IDR 2.49 billion. This subsidiary is known to have started its operation in 2020.

As is known, SMRA is currently building a 2.9-hectare school worth IDR 200 billion in Nusantara Capital City (lit. Ibu Kota Nusantara/IKN), Penajam Paser Utara, East Kalimantan. Furthermore, SMRA is also working on a high-rise residential building for state civil apparatus in IKN. (LK/ZH)