Red Planet Expand its Hotel Business

PT Red Planet Indonesia, Tbk (PSKT IJ) is acquisition 99.95% stake (worth IDR40bn) in PT Karya Bangun Hotelindo, expected to expand its hotel business in the future. Karya Bangun Hotelindo owns 2,500 m2 of land, and its asset is potentially for Red Planet to build new hotel. After this acquisition, Red Planet and Crio Indonesia owns 1,999 shares and 1 share of Karya Bangun Hotelindo, respectively.

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