AKRA: To grant subsidiary extra capital of IDR5.27 bn

AKR Corporindo (AKRA) has channeled extra capital worth IDR5.27 bn to one of its subsidiaries, Anugerah Krida Retailindo (Akrida). This capital injection was given to boost the issued and paid-up capital of Akrida to IDR705.87 bn. Prior to this, Akrida’s issued and paid-up capital was stuck at IDR700.59 bn. The issued and paid-up capital increase is equal to IDR5.27 bn, acquired and fully paid by the company. The proceeds gained by Akrida will be further utilized to support its business and the capitalization of its subsidiaries. AKRA recorded cash and cash equivalents of IDR1.79 tn until 31 March 2023. Its total assets were also recorded at IDR23.83 tn, while its total equity was worth IDR13.81 tn. Akrida is AKRA’s subsidiary that is engaged in the trading business as well as the holding company. Established in 2018, this subsidiary recorded total assets before elimination of IDR1.31 tn in March 2023. (Source: IDN Financials).