JAKARTA. PT AKR Corporindo Tbk (AKRA) has channelled extra capital of IDR 18 billion to PT Anugerah Krida Retailindo (Akrida), a subsidiary engaged in the trading and distribution line.

This extra capital boosts Akrida’s issued and paid-up capital to IDR 967.16 billion from the previous record of IDR 949.16 billion.

“The increase of issued and paid-up capital of Akrida of IDR 18 billion will be taken over and paid in its entirety by the company,” added Suresh Vembu, Director and Corporate Secretary of AKRA, in the official statement.

Vembu then said that the allocation of this additional capital is meant as a way to promote Akrida’s business and strengthen its subsidiaries’ capital structure.

After this capital boost, AKRA’s portion in Akrida will rise to 99.99%. The remaining 0.01% belongs to PT AKR Niaga Indonesia. (KR/ZH)