JAKARTA. PT Maha Properti Indonesia Tbk (MPRO) cancelled its plan to acquire 49.99% of the shares of PT Mandiri Mega Jaya (MMJ) and PT Hokindo Properti Investama (HPI), due to the condition of property business.
PT Mandiri Mega Jaya (MMJ) and PT Hokindo Properti Investama (HPI) are subsidiaries of PT Hanson International Tbk (MYRX) and PT Rimo International Lestari Tbk (RIMO). The two companies are affiliated with Benny Tjokrosaputro.
There are two reasons why MPRO choose to cancel the acquisition plan. First, the development of the property business is considered less profitable. The second reason is the financial problems being faced by Hanson International.
"This can affect the performance of MMJ and HPI and its subsidiaries," said Raymond, President Director of MYRX in the information disclosure, Monday (20/1).
The cancellation does not cause any additional obligations or causing material impacts on the company. (AM/AR)