Jakarta, May 4, 2012. PT Agung Podomoro Land Tbk (“APLN” or “the Company”) – (Ticker IDX: APLN) – announced that the Company has made share purchase agreement to acquire a 51% stake in PT JKS Realty (JKS), an unaffiliated company, for about IDR 41 billion which owns one hectare of land in Bandung, West Java. The Company plans to develop the area into a residential complex with two towers of apartments ranging from a studio type unit up to three bedroom type of unit (3BR) and some kiosks.
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