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Indonesia,Thailand : GOLDEN Land seeks to acquire third piece of land in Sandaran district.

Golden Land Bhd has announced that it would buy a third piece of land measuring 1,625ha in Sandaran district in Indonesia's East Kalimantan province.

The purchase would be executed via PT Setara Kilau Mas Adicita (SKMA), in which Golden Land's wholly-owned Shinny Yield Holdings Ltd had acquired a 95% share in 2014 for 24.43 billion rupiah (RM6.84 million).

SKMA and PT ADJ Konsultan Abadi has signed service provision deal. The deal covers that ADJ would help in gaining the need documents, like the land use rights.

ADJ is anticipated to offer help in resolving issues, claims, disputes, and clearing of the land, all within 36 months from the signing date.

The maximum service fee payable to ADJ is 16.99 billion rupiah (RM4.76 million).

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Publication:Mena Report
Geographic Code:9INDO
Date:Mar 19, 2018
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