JAKARTA. PT Damai Sejahtera Abadi Tbk (UFOE), an electronic and furniture retail company, has recently bought a 2,238 square metres showroom built on five lots in Banjarbaru, South Kalimantan.
Lina Ariawati Harijono, the Corporate Secretary of UFOE, claimed that the company bought the building for IDR 11.6 billion. In the information disclosure on Indonesia Stock Exchange, Harijono mentioned that UFOE purchased the building from the company’s affiliated parties, Pudji Harianto and Poedji Harixon.
“The reason for purchasing from the related parties were the seemingly strategic location, as well as the terms and conditions that posed less issue for the company, compared to a similar transaction with other parties,” Harijono explained.
Based on idnfinancials.com, Pudji Harianto is still acting as the Head Commissary and the shareholder of 6% of UFOE. Then, Poedji Harixon is also currently occupying the position of the President Director of UFOE and owning 4% of the company’s shares.
According to the accountant office appointed by UFOE, the transaction of the building was still considered normal. The report revealed that the market value of the purchased building was IDR 12.06 billion. Therefore, the agreed price by the company and both the sellers was only IDR 0.46 billion lower than the market value. (KR/ZH)