JAKARTA: PT Reliance Securities Tbk shall increase the capital of its subsidiary, PT Reliance Asset Management, up to IDR25 billion this year from currently IDR5 billion merely to meet the capital regulation.Such capital injection even exceeds such government's regulation at IDR20 billion, said Reliance Securities President Director Nicky Hogan.We will increase the capital of our subsidiary, Reliance Asset Management, so that they can carry out their business activity this year, he said yesterday.As quoted from the site of Capital Market and Financial Institutions Watchdog, Reliance Asset Management is currently limiting its business activity. (T02/NOM)
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