Summarecon Agung Tbk (SMRA) has channelled extra capital worth IDR 485.5 billion to one of its subsidiaries, PT Summarecon Property Development (SMPD).
Lydia Tjio, Corporate Secretary of SMRA, mentioned that the extra capital consists of 485.5 million new shares issued by SMPD. This investment will also boost SMRA’s issued and paid-up capital in SMPD to IDR 5.05 trillion from the previous IDR 4.56 trillion.
“It is to promote growth of PT Summarecon Property Development,” added Lydia in the information disclosure in Indonesia Stock Exchange (IDX).
According to IDNFinancials data, SMPD is a business entity engaged in the property development since 2012. SMPD’s total assets before elimination as of June 2024 were recorded at IDR 14.33 trillion.
Meanwhile, in the first semester (H1) of 2024, SMRA reported total assets of IDR 14.92 trillion, with cash and cash equivalent of IDR 3.25 trillion, and total equity of IDR 13.13 trillion. (KR/ZH)