JAKARTA (Yosefardi) – Property developer PT Modernland Realty Tbk (MDLN) had in November 22, 2013 signed sale and purchase agreement for selling 85,373 square meters commercial area, worth US$45.67 million, to PT AEON Mall Indonesia.
AEON Mall Indonesia is subsidiary of AEON Co Ltd. Other subsidiary is PT AEON Indonesia engaged in retail business. AEON Mall Indonesia will focus on the development of shopping malls.
MDLN has also in November 19, 2013 signed loan facility agreement with Standard Chartered Bank Singapore Branch, and MDLN’s new acquired entities – PT Mitra Sindo Makmur and PT Mitra Sindo Sukses – had in November 22, 2013 signed share collateral agreement amounting 51% of each company’s total shares, worth Rp122.4 billion and 361.03 billion respectively.
MDLN had in November 15, 2013 signed the loan facility agreement amounting US$45 million with Standard Chartered Singapore and Standard Chartered Jakarta.