Jakarta, December 11, 2013. PT Agung Podomoro Land Tbk (“APLN” or “the Company”) – (Ticker IDX: APLN) – announced that the Company has entered into conditional sale and purchase agreement to acquire 69% stake in PT Wahana Sentra Sejati (WSS), an unaffiliated company, for IDR166 billion. WSS owns close to one hectare of land in the Chinatown area, Jakarta. The Company plans to demolish the current old building and turn it into a complex with a new trade center building and a budget hotel. With this project, the image of Chinatown is expected to be modernized and enhanced.
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