SGX-listed Sinarmas Land, through subsidiary PT AFP Dwilestari (AFPD), has on Feb 22, 2019 entered into a shareholders’ agreement with PT Taman Resor Internet (TRI), a wholly owned subsidiary of Citramas Group, to jointly develop and manage commercial properties on a land area of approximately 4 hectares located in Nongsa Subdistrict, Batam City. The parties shall establish a 50-50 joint venture company to be known as PT Citra Sinar Global with an initial issued and paid-up capital of Rp15 billion.
