After The Purchase Of Central Park Mall, Japanese And Agung Podomoro Companies Owned By The Conglomerate Trihatma Kusuma Haliman Improved Cooperation

JAKARTA - Japanese property company Hankyu Hanshin Properties Corp and PT Agung Podomoro Land Tbk (APLN) are ready to expand cooperation projects after the acquisition transaction of 85 percent of Central Park Mall's shares worth IDR 4.5 trillion.

"This collaboration is the beginning of various other opportunities for cooperation in the future. We are really happy to be collaborating with Agung Podomoro at Central Park Mall which is one of the best malls in Jakarta," said Representative Director And President Hankyu Hanshin Properties Corp. Ryuchi Morotami in a statement quoted by Antara, Thursday, November 17.

The acquisition of Central Park Mall shares from APLN was carried out by Hankyu through its subsidiary, CPM Asset Japan LLC, to PT CPM Asset Indonesia as a direct buyer of 85 percent of Central Park Mall shares. As part of the business collaboration between the two property giants, Hankyu controls 71.42 percent of PT CPM Asset Indonesia's shares, while APLN owns 28.58 percent of the shares.

Founder Agung Podomoro Group Trihatma Kusuma Haliman believes that all parties have the same vision that allows the acquisition to be completed. He believes that sharing his expertise will bring progress and be able to make Central Park the best mall in his class.

"I believe this is just the beginning of collaboration with Hankyu Hanshin Properties on various occasions," said Trihatma.

At the age of 53 years, APLN remains consistent in encouraging the acceleration of property industry development in Indonesia. In the last 10 years, APLN has completed more than 50 property projects consisting of apartments, shopping centers, hotels, townhouse development and office houses.

Central Park Mall, which started operating on September 9, 2009, has a total area that can be rented for more than 128 thousand M2, and in August 2022 its occupancy rate will reach almost 95 percent. The shopping center is located in the Podomoro City area, Jakarta, which is equipped with apartments, hotels, and office rooms. The residents of the Podomoro City area reach more than 20 thousand people.

In line with Indonesia's positive economic growth, APLN has also managed to record a brilliant performance this year. Until the third quarter of 2022, APLN has recorded sales and operating income of IDR 7.39 trillion. This achievement increased by 154.2 percent compared to the same period in 2021 of IDR 2.91 trillion.

The company's gross profit also jumped 332.8 percent to IDR 4.39 trillion compared to the same period last year of IDR 1.01 trillion. Meanwhile, comprehensive net profit in the nine-month period of 2022 shot up to 826.1 percent to IDR 2.57 trillion from a comprehensive loss of IDR 354.1 billion in the same period last year.