Sinar Eka Selaras Tbk (ERAL), a subsidiary of PT Erajaya Swasembada Tbk (ERAA) that focuses on the retail business for lifestyle products, has channelled extra capital worth IDR 15.73 billion to PT MST Golf Indonesia (MGI).
This corporate action is intended as a way to maintain ERAL’s portion in MGI. MGI is known to be a joint ventur established by ERAL and MST Golf Group Berhad, which focuses in retail business for golf products.
“The capital investment took place solely to maintain the company’s portion in MGI,” confirmed Badar Teguh Mancik Alam, Corporate Secretary of ERAL, in the official statement.
After allocating this extra capital, ERAL’s portion in MGI remains stable at 49%, while MST Golf Group Berhad claims another 51%. However, the company’s issued and paid-up capital in MGI will rise to IDR 78.45 billion from IDR 62.72 billion.
According to IDNFinancials data, ERAL reported cash and cash equivalent of IDR 429.25 billion as of June 30, 2024. Then, its total assets were recorded at IDR 2.06 trillion, with total equity of IDR 1.50 trillion. (KR/ZH)