Jun 3, 2011

Agung Podomoro buys Griya Pancaloka

Property developer PT Agung Podomoro Land Tbk (APLN) acquired 75% shareholding in PT Griya Pancaloka, property player based in Depok, West Java, from unaffiliated party.
"Griya Pancaloka will build and manage a hotel on 7.6 hectares land in Nusa Dua, Bali," said Ariesman Widjaja, Vice President Director, in an official statement.
Agung Podomoro has set up two subsidiaries, PT Central Pesona Palace and PT Central Indah Palace, focusing in hotel business.

Disclosure: No position at the stock mentioned above.  

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