Agung Podomoro Sells Assets Located In Central Park Jakarta

Photo: Doc. Central Park Mall.

JAKARTA - Property company PT Agung Podomoro Land Tbk announced the sale of a certificate of ownership rights for a flat in the Central Park area of Jakarta. The company codenamed APLN shares also sold land in Karawang on December 8 and 10, 2020.

Quoted by VOI from the disclosure of information from Agung Podomoro Land on the Indonesia Stock Exchange website, Friday, December 11, they sold their ownership rights to apartment units in a small commercial area in the Central Park Mall and the company's land plots in Karawang with an area of 1,047,750. square meter.

Agung Podomoro Land sold the assets in Central Park to PT CPM Assets Indonesia (CPM) which took place on December 8, 2020. As for the sale of land in Karawang Regency through its subsidiary PT Buana Makmur Indah, which holds 55 percent of the shares to PT Karawang Tatabina Industrial Estate in 10 December 2020.

"The purpose of the transaction for the company is to support the company's plan to obtain funding that can be used by the group for capital expenditures and to expand the business of the company and / or its subsidiaries in the future," said the management of Agung Podomoro Land.

Agung Podomoro Land's management stated that the total transaction value is less than 20 percent of the company's equity based on the company's latest financial report.

As a result, these transactions are not material transactions as stipulated in the OJK regulations regarding material transactions and changes in business activities.

The transaction carried out by Agung Podomoro Land is also considered to increase the company's cash position and support the company's business development.

As for September 2020, Agung Podomoro Land's total equity was recorded at Rp. 11.03 trillion. Thus, the sale of a portion of the Central Park area and land in Karawang does not exceed a value of IDR 2.02 trillion.