Gudang Garam Starts Doing Toll Road Business

Illustration. (Angga Nugraha / VOI)

JAKARTA - Cigarette producer, PT Gudang Garam Tbk is expanding its business wing by doing business in the infrastructure sector, especially on toll roads. This was marked by the formation of a grandson, Gudang Garam, which operates in the toll road sector, named PT Surya Kertaagung Toll.

Gudang Garam Corporate Secretary Heru Budiman said, PT Surya Kertaagung Toll was founded under PT Surya Kerta Agung, which is a subsidiary of the issuer coded for GGRM shares.

"A subsidiary of PT Surya Kerta Agung has established a new subsidiary named PT Surya Kertaagung Toll, based in Kediri," Heru explained as quoted from the disclosure of information from Gudang Garam on the Indonesia Stock Exchange website, Wednesday, November 11.

Heru explained, the establishment of PT SKT was to expand the company's business in the construction sector. PT SKT will work on upgrading, maintaining and repairing roads, roads and toll roads, as well as bridges and flyovers.

Not only that, the business sector of PT SKT is also not limited to the activities of building, upgrading, maintaining, supporting, complementing and equipment for the aforementioned infrastructure.

"But also in the case of the installation of prefabricated buildings mainly of concrete for road and railroad construction as part of the work included in the construction of civil buildings and usually carried out on a sub-contract basis," Heru said.

Gudang Garam itself has 499,999 shares or 99.9 percent in PT Surya Kerta Agung, which established PT SKT.

The establishment of PT SKT is contained in the Deed of Establishment number 09 dated November 6, 2020 made by Notary Danny Rachman Hakim in Kediri, East Java.

Judging from the capital structure, PT SKT has an authorized capital of IDR 1.2 trillion. The issued and paid-up capital was recorded at IDR300 billion or as many as 300 thousand shares with a nominal value of IDR1 million per share.

In PT SKT, PT SKA took a share of 299,999 shares or 99.9 percent, which is equivalent to IDR 299.99 billion. Furthermore, Heru Budiman subscribed for a share of 1 percent or one share equivalent to Rp1 million.