JAKARTA - PT Sariguna Primatirta Tbk (CLEO) made an investment to purchase 10,809 m2 of land in the Tritan Point Ngoro Area, Mojokerto on Monday (13/5). The land consists of eight property units purchased from PT Millenium Mega Mulia.
In an information disclosure to the Indonesia Stock Exchange (IDX), CLEO Director and Corporate Secretary Lukas Setio Wongso Wong explained that the transaction was an affiliate transaction because CLEO and Millenium Mega Mulia are mutually controlled by PT Tancorp Global Sentosa.
“The agreed sales and purchase price is Rp 29.72 billion, which already includes a 10% VAT, and the payment will be made in six stages,” said Mr Wong as quoted by Kontan.co.id, Wednesday (15/5).
CLEO will make the first payment on May 20, 2019, and subsequent payments of Rp 4.95 billion will be made every month on the 20th until October 20, 2019.
“The transaction aims to expand the company’s factories, which we expect to improve the company’s’ performance and drive its market growth in the next year,” Mr Wong added. (MS)