Sinarmas Land Limited (SGX:A26) acquired PT Panca Lambang Cipta for IDR 60 million on June 30, 2022. The Group acquired an aggregate of 240 shares of nominal value of IDR 250,000 each in PLC. PLC become a subsidiary of the Group. The net asset value of PLC as at 31 December 2021 was IDR 60 million.

Sinarmas Land Limited (SGX:A26) completed the acquisition PT Panca Lambang Cipta on June 30, 2022.