Adi Sarana Owned By Conglomerate TP Rachmat Adds Adi Sarana Logistics Capital Rp18.4 Billion

JAKARTA - PT Adi Sarana Armada Tbk (ASSA) has increased the capital strength of its subsidiary. Through a memorandum of understanding (MoU) on June 2, the transportation and logistics company owned by conglomerate TP Rachmat increased the capital of PT Adi Sarana Logistik (ASL).

"The value is Rp. 18.4 billion," said Acting Corporate Secretary Adi Sarana Prodjo Sunarjanto Sekar Pantjawati in an information disclosure to the Indonesia Stock Exchange (IDX), Wednesday, June 22.

Citing the company's financial statements as of March 31, 2022, Adi Sarana is the owner of 40 percent of ASL's shares. This amount is equivalent to 102.11 shares, up from the position at the end of December 2021 as many as 90,515 shares.

Prodjo explained, ASL in running its business requires additional capital. This way, said Prodjo, is expected to make a positive contribution to the company.

The plan for capital injection to ASL was previously stated in the plan to use the proceeds from the issuance of new shares with pre-emptive rights (PMHMETD). Under the plan, Adi Sarana provides capital to ASL for the development of Titipaja's line of business in the warehousing service sector.