JAKARTA - PT Kawasan Industri Jababeka Tbk (KIJA) in collaboration with Presidential University Education Foundation (YPUP) established a joint venture (JV) named PT Media Membangun Negeri (MPN).
The cooperation is carried out by KIJA through one of its subsidiaries, PT Mitra Pembangunan Kawasan (MPK). In the information disclosure on Indonesia Stock Exchange (IDX), KIJA management explained that MPK deposited funds of IDR 637.5 million and YPUP deposited IDR 612.5 million.
Thus, MPK controlled 51% of MPN's shares and YPUP owned 49%.
KIJA management informed that the cooperation to establish MPN was included in an affiliate transaction, because MPK was a subsidiary whose entire shares were owned by KIJA. On the other hand, two commissioners and one director of the company also serve as supervisory board at YPUP.
According to idnfinancials.com data, MPK currently has various business portfolios, starting from entertainment, hospitality, to development of industrial estates. A number of major projects, handled by MPK, including Jababeka Industrial Estate, Kendal Industrial Park, Jababeka Golf & Country Club, and Tanjung Lesung Special Economic Zones. (KR/VA)