JAKARTA. PT Waskita Toll Road (WTR), a subsidiary of PT Waskita Karya (Persero) Tbk (WSKT), has increased its portion in PT Kresna Kusuma Dyandra Marga (KKDM).

This portion increase is carried out by WTR through debt equity swap with KKDM. The total value of KKDM’s debt, which is going to be converted into equity for WTR, is IDR 2.72 trillion.

At the same time, KKDM also raises its issued and paid-up capital to IDR 6.18 trillion, a drastic increase from the previous IDR 2.6 trillion.

After this debt-to-equity swap, as well as issued and paid-up capital increase, WTR’s portion in KKDM will rise to 83.37% from the previous 76%. Meanwhile, the remaining KKDM’s portions belong to RDPT dan PT Jasa Marga (Persero) Tbk (JSMR).

“With this capital increase from WTR, KKDM is expected to optimise its performance and generate added value to te company as WTR’s shareholders,” said the management of WTR. (KR/ZH)