PT Timah Added Capital Participation For Subsidiaries Rp74.96 Billion

Illustration. (Photo: Doc. Antara)

PT Timah Tbk (TINS) has added capital participation to its subsidiary, namely PT Timah Karya Persada Properti.

Quoted from the disclosure of information, PT Timah added a capital deposit of Rp74.96 billion in the form of land owned by PT Timah Tbk located in Mustikasari Village, Mustikajaya District, Bekasi City with a total area of 93,740 m2.

"The company made additional capital deposits in PT Timah Karya Persada Properti amounting to Rp74.96 billion with land owned by PT Timah Tbk located in Mustriharsari Village," the company wrote in the information disclosure of the Indonesian Stock Exchange (IDX) quoted on Friday, December 23.

With the addition of capital deposits, the Company obtained an additional share of 74,961 shares in PT Timah Karya Persada Properti.

So that the number of shares owned by PT Timah becomes 280,625 shares or 99.75 percent of all shares that have been issued and paid up in PT Timah Karya Persada Properti.

Just so you know, PT Timah Karya Persada Properti is a subsidiary of PT Timah which is engaged in developing non-operational assets in the form of investment properties. The basic capital of the subsidiary is IDR 132.07 billion, consisting of 132,085 shares with a nominal value of IDR 1,000 per share.