Jakarta - PT Waskita Modern Realty (WMR) has increased its issued and paid-up capital by Rp4.3 billion or 4,300 shares which were subscribed by PT Waskita Karya Realty (WKR) in cash.

According to Waskita's information disclosure submitted to the IDX on Wednesday (8/9), WKR took up about 2,580 shares or Rp2.58 billion as of September 3, 2021.

This transaction is affiliated because WKR and WMR are part of the PT Waskita Karya Tbk group with 99.99% ownership of WKR, and WKR owns 60% of WMR's shares.

The transaction value is 0.02% of the company's equity which was at Rp15.610 trillion as of June 2021, and 0.09% of WKR's equity, which was at Rp2.868 trillion.

The transaction between WKR and WMR was carried out concerning land acquisition to develop the Vasaka City project in Bekasi, West Java.

With this transaction,  WMR as a WKR business entity is expected to maximize its business performance and provide added value