JAKARTA. PT Indal Aluminium Industry Tbk (INAI) has granted extra capital worth IDR 102 billion to one of its subsidiaries, PT Indalex.

Ariawan Wiradinata, Corporate Secretary of INAI, said that this extra capital is given according to the decision made during General Meeting of Shareholders of Indalex in July 2024.

Said meeting agreed that PT Indal Investindo, also a subsidiary of INAI, will allocate extra issued and paid-up capital to Indalex.

“It is so that PT Indalex may reduce its debt expenses of the company,” added Wiradinata in the information disclosure in Indonesia Stock Exchange (IDX).

The management of INAI said that this extra capital is expected to lower interest expenses stated in the financial report. In addition, the management also confirmed that there will be no change in the controlling shareholder position of Indalex.

According to IDNFinancials data, INAI is also listed as controlling shareholder of Indalex and Indal Investindo, owning 99.99% of both companies as of September 30, 2024. Indalex is known to be a company engaged in the construction service, while Indal Investindo is engaged in the investment field. (KR/ZH)