JAKARTA - PT Mega Manunggal Property Tbk (MMLP) will establish private fund to support its business growth and asset monetization. To realize the plan, the company is collaborating with an investment manager, Alpha Investment Partners (AIP).
As quoted from the company disclosure, MMLP will own 25% of the funds, while the rest will be owned by AIP, its affiliates, or investors.
According to the agreement, MMLP and PT Intirub, a subsidiary of MMLP, will transfer all of its land assets, buildings, facilities and lease contracts to a special subsidiary (SPV), PT Indo Log One. Indo Log One is a subsidiary of PT Indo Log Advisory.
The assets that will be transferred including Unilever Mega Distribution Center (MDC) Warehouse in MM2100 Industrial Estate, Cikarang, West Java, Intirub Business Park (IBP) I and II in East Jakarta, Li Fung Warehouse in West Cikarang, and Selayar Warehouse in West Cikarang. The total value of those assets reaches Rp 2.38 trillion. (LK/AR)