JAKARTA - PT PP Properti Tbk (PPRO) expands its business line to the commercial sector by cooperating to establish PT PP Sinergi Banjaratma, the operator of the rest area in Pejagan-Pemalang Toll Road (Brexit Km 260B). Through this business, the company expects to increase its recurring revenue in the future.
As cited from the company's disclosure of information, Indaryanto, Corporate Secretary of PT PP Properti Tbk (PPRO) stated that the company put Rp 6.34 billion of issued and paid-up capital in the joint venture,"The funds came from the company's internal cash," he said.
The companies that cooperate to establish the company are PT Pembangunan Perumahan (Persero) Tbk (PTPP), PT Jasamarga Properti, PT Waskita Karya (Persero) Tbk (WSKT), PT Perkebunan Nusantara IX, and PT RNI (Persero). The joint venture has an authorised capital of Rp 63.42 billion.
The company with the largest ownership in the new company is PTPP (Rp 20.61 billion, 32.5%), followed by PT Jasamarga Properti (Rp 12.68 billion ,20%), PT Perkebunan Nusantara IX (Rp 6.34 billion, 10%), and PT RNI (Rp 4.75 billion, 7.5%). (LK/AR)