Musim Mas Group Purchases Harbor Rocks Hotel for AU$40 Mln

By Editorial Team 02/11/2022
asset for sale
Summary

Australian tycoon Robert Magid has completed the sale of the historic Harbor Rocks Hotel, located in an elite district near the Opera House and Sydney Harbour, Sydney, Australia. Robert sold the hotel to one of the wealthiest families in Indonesia for AU$40 million.

The Australian Financial Review reports that the transaction showed that Invictus Pacific Alpha Management was the buyer and listed Dewi Sukwanto and Chayadi Karim as directors. Dewi Sukwanto is the wife of Bachtiar Karim, the owner of Musim Mas Group, while Chayadi Karim is the son of Bachtiar Karim.

Musim Mas Group is an integrated palm oil company that produces soap, margarine, cooking oil, and other palm-derived products. Musim Mas generated sales of US$6.9 billion in 2020.

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