This Cigarette Company Owned By Conglomerate Susilo Wonowidjojo Gives IDR 1 Trillion To Build Kediri Airport

Conglomerate Susilo Wonowidjojo (Photo: Instagram @forbesindonesia)

JAKARTA - One of the country's leading cigarette companies, PT Gudang Garam Tbk, reported that it has made additional capital participation in its subsidiary PT Surya Dhoho Investama (SDHI) worth IDR 1 trillion.

Gudang Garam Corporate Secretary Heru Budiman, quoted from the disclosure on the Indonesia Stock Exchange (IDX) website Friday, March 5, said the affiliated transaction was carried out to increase PT SDHI's capital.

For information, SDHI is a company formed by Gudang Garam that was given the mandate to build Dhoho Airport in Kediri, East Java. This transaction, said Heru, was carried out to support the continuation of the development process of the Integrated Airport in Kediri, East Java, which was built by the company owned by the conglomerate Susilo Wonowidjojo through SDHI.

This company with the code GGRM owns 99.99 percent of shares in SDHI. Later, SDHI will issue 1 million shares which will be absorbed by GGRM to include an additional capital of IDR 1 trillion.

Thus, SDHI's issued and paid-up capital will be IDR 5 trillion from the previous IDR 4 trillion. Furthermore, SDHI's authorized capital, which currently amounts to IDR 5 trillion, will also be increased to IDR 8 trillion.

"The change in the amount of SDHI capital mentioned above will be contained in the deed of the SDHI Articles of Association Amendment by the SDHI Shareholders General Meeting decision", Heru explained.

Meanwhile, the issued and paid-up capital by the company owned by the 6th richest person in Indonesia will be done in stages starting this year, with the initial deposit on March 3.

For the record, SDHI has carried out a ceremonial groundbreaking for the construction of Dhoho Kediri Airport on Wednesday, April 15, 2020, virtually. This airport was built to serve the community, especially in Kediri and its surroundings, and is considered one of the alternative airports in East Java.