JAKARTA – PT Sreeya Sewu Indonesia Tbk (SIPD), an animal feeding manufacturer, sells off its land assets of 21.74 hectare (Ha) in Lumpang Village, Parung, Bogor, West Java, to PT Investasi Semesta Indonesia (ISI). The said land is planned to be utilised for property development purposes in the area.
Sri Sumyarsi, Director of Sreeya Sewu Indonesia, confirmed that SIPD has an affiliation with ISI. Both companies are linked back to a similar controlling shareholder, PT Gunung Sewu Kencana (GKS). “The company sells the land to an affiliate in the property sector with a price above the market range,” she admitted in the information disclosure quoted Wednesday (12/1).
The market price of the said lot, as of July 30, 2021, was fixed at IDR 76.96 billion. Meanwhile, the selling price to ISI was set to IDR 82.63 billion, excluding 10% VAT. The location of the lot has indeed been neighbouring with a housing area in Parung, Bogor. (LK/ZH)