JAKARTA - PT Waskita Karya (Persero) Tbk (WSKT) will increase the capital of its subsidiary, PT Kresna Kusuma Dyandra Marga (KKDM), through another subsidiary, PT Waskita Toll Road (WTR).

The transaction is carried out regarding the capital restructuring for subsidiary to optimise KKDM’s performance.

Based on information disclosure in Indonesia Stock Exchange (IDX) today (2/1), WTR invested IDR 1.57 trillion, equal to 1,577,548,000 shares, in KKDM, bringing its portion rising to 91.83%.

The authorised capital will then increase from IDR 6.18 trillion to IDR 7.94 trillion, as well as issued and paid-up capital to IDR 6.86 trillion.

The shareholder structure of KKDM will then change to PT Waskita Toll Road owning IDR 6.3 trillion (91.83%), RDPT owning IDR 553.2 billion (8,06%), and PT Jasa Marga owning IDR 7.65 billion (0.11%).

The capital raise will be 13.6% of total equity of WSKT of IDR 11.6 trillion, or 6.5% of total equity of WTR of IDR 24.26 trillion, according to the consolidated financial report of Full Year 2023.

This strategic plan is expected to reinforce operational performance of KKDM, particularly in managing Bekasi-Cawang-Kampung Melayu Toll Road, which has been its main business focus. (DK/ZH)