Sinarmas to Capitalize on Property Sector Recovery through Acquisition

By Editorial Team 26/02/2021
Investigating Fund
Summary

Sinarmas Land Limited keeps expanding. Sinarmas Group’s property company listed on the Singapore Exchange acquired three Indonesia-based property companies, PT Bhumindo Repenas Jayautama (BRJ), PT Cibubur Permai Lestari (CPL), and PT Gunung Indah Permai Lestari (GIPL), for a total of Rp 347.77 billion. Sinarmas Land took over all their shares.

Specifically, the company acquired 258,412 BRJ shares worth Rp 129.21 billion; 290,670 CPL shares worth Rp 145.34 billion; and 73,228 GIPL shares worth Rp 73.228,000,000. Therefore, the total transaction reached up to Rp 347.77 billion.

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