Jakarta –
PT Agung Podomoro Land Tbk (APLN) sells 85% of the Mal property Central park (CP Mall) in Grogol, West Jakarta, to the Japanese company Hankyu Hanshin Properties Corp. The transaction was carried out through its subsidiary PT CPM Assets Indonesia.
The company sold the company’s housing unit ownership certificate (SHMRS) for the Central Park Mall on September 22, 2022. The sale included 149 SHMRS of the company’s Central Park housing units to CPM Indonesia.
Reporting from the information disclosure, APLN earned Rp 4.53 trillion from this transaction. The results of this transaction are believed to have a positive impact on the financial situation of the company.
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In its written statement, it was stated that the proceeds from the CP Mall divestment would be used to repay the loan. The funds were also used to reinvest in PT CPM Assets Indonesia so that it held a 28.58% stake in PT CPM Assets Indonesia.
“As a real estate company, we strive to always optimize every business opportunity, including the divestiture of CP Mall. We are optimistic that the various strategic steps taken by the company will further enhance performance and support long-term sustainable business growth,” he said. explained Bacelius Ruru, President and Director of the APLN, in his official statement, quoted on Tuesday (18/10/2022).
Additionally, this transaction helps APLN accelerate the repayment of the Guthrie Venture Pte Ltd loan, which expires on November 20, 2022.
It is also stated that this transaction is not a transaction that contains elements of an affiliate transaction. This operation is significant but constitutes a commercial activity carried out by the company in order to generate operating income and is carried out in an ordinary, repeated and / or continuous manner considering that the company is engaged in real estate.
“The sale of Central Park Mall will strengthen the company’s liquidity, so that the execution of our planned real estate projects is more robust. More importantly, the repayment of Guthrie’s loan can also improve cost efficiency and better profitability of the company in the future, “Bacelius said.
Central Park Mall, which went into operation on September 9, 2009, has a total lettable area of over 128,000 square meters. As of August 2022, the occupancy rate was almost 95%.
This shopping mall is located in the Podomoro City area, Jakarta, which is equipped with apartments, hotels and offices. The inhabitants of the territory of Podomoro City reach more than 20 thousand people.
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