JAKARTA – PT Inti Mitbana Development (IMD) places an investment worth IDR 1.1 trillion in order to aid the development of Talaga Bastari residential project in Tangerang.
Archied Noto Pradono, Director of PT Intiland Development Tbk (DILD), confirmed that IMD has allocated an investment in the new development project of Talaga Bastari. “PT Sinar Puspa Persada (SPP) and Mitbana Urban Development Fund (MUDF) III has formed IMD as a joint venture with the ownership split into 70% of MUDF and 30% of SPP,” he revealed further in the information disclosure quoted Monday (8/8).
For the record, SPP’s shares are entirely controlled by DILD, while MUDF III Pte Ltd is under Mitbana Fund I Pte Ltd, a company initiated by Mitsubishi Corporation and Surbana Jurong Capital Holdings Pte Ltd. IMD’s total share value reaches IDR 10 billion. (LK/ZH)