Indonesia Miner
Welcome to Indonesia Miner
Home / Directory / List News / Detail News

United Tractors to channel extra IDR 217.23 billion to its subsidiary

www.idnfinancials.com

Thu 12 May 2022, 13:01 PM

Share

Events

PT United Tractors Tbk (UNTR) announces the distribution of extra capital investment to one of its subsidiaries, PT Tuah Turangga Agung (TTA) worth IDR 217.23 billion. TTA is a company that owns nine coal mining concessions, controlled by UNTR through PT Pamapersada Nusantara (PAMA). Total coal reserves of TTA are estimated to reach 254 million tons.

Sara K. Loebis, Corporate Secretary of UNTR< mentioned that the said capital injection was made through claiming the issuance of 217,191 new shares of TTA. These entire new shares were acquired by PAMA, allowing PAMA’s stock portion in TTA to jump to 6.08 million units worth IDR 6.08 trillion in total.

“PAMA’s reason behind the raise of its stock ownership in TTA is to grant extra working capital for TTA’s operational activities,” Loebis revealed. For the record, TTA has four companies engaged in the coal trading industry. TTA’s products are then sold through those four subordinate companies to users in the domestic and international markets alike.

Source: https://www.idnfinancials.com/news/43038/united-tractors-channel-extra-idr-subsidiary

Advertisement

Relate News

News
13 Mar 2023, 09:12 AM

Petrosea signs MoU to roll out Tembo electric light vehicle conversion kits throughout Indonesia

im-mining.com
1329 Views
News
30 Sep 2022, 11:00 AM

Merdeka Copper Gold Builds 8.9 km Mining Road in Gorontalo

www.beritasatu.com
1896 Views
News
04 Jul 2023, 10:05 AM

Far East Gold increases Indonesian footprint with Java copper-gold project

smallcaps.com.au
1901 Views
News
16 Mar 2022, 12:44 PM

Caterpillar autonomously hauls more than 1 billion tonnes of material with Cat® Command for hauling...

www.im-mining.com
1510 Views
Hello! We would like to talk to you.Please fill the details below to start chatting with us.