PWON - PT. Pakuwon Jati Tbk

Rp 555

-5 (-0,90%)

JAKARTA - PT Pakuwon Permai, a subsidiary of PT Pakuwon Jati Tbk (PWON), acquired two shopping centres and one hotel in Yogyakarta for Rp 1.35 trillion. The transaction took place last week on 25 November 2020.

According to PWON Director Minarto, the shopping centres are Hartono Mall Yogyakarta and Hartono Solo Baru, Central Java while the hotel is Yogyakarta Marriott Hotel. "The seller is PT Delta Merlin Dunia Properti as the building owner and Sumitro as the land owner," he said in a stock exchange filing on Monday (30/11).

The company, Mr Minarto said, has no affiliation with the seller. He added that the asset purchase aimed to acquire revenue opportunities and potential outside Surabaya and Jakarta.

The funds for the acquisition were sourced from the company's cash. "The company's cash position was adequate to finance the purchase, and it will not affect the stability of the company's cashflow," Mr Minarto asserted. (LK/MS)