JAKARTA – PT Indah Kiat Pulp & Paper Tbk (INKP) is optimising its assets by leasing a plot of land and building covering 300 m² to PT Cakrawala Mega Indah (CMI), an affiliated party of the company.

The lease agreement was signed on March 10, 2025 by INKP and CMI and will be in effect for the next five years, until March 9, 2030, with an agreed annual rent of IDR 210 million.

Heri Santoso, Director and Corporate Secretary of INKP, explained that the leased land is located in Pakulonan Village, Serpong District, South Tangerang City, under Building Use Rights (HGB) No.6/Pakulonan.

"The main purpose of this agreement is to derive benefits from the company's land and building," said Heri in an official statement, quoted on Wednesday (12/3).

For information, this transaction is classified as an affiliated transaction because INKP and CMI are both under PT APP Purinusa Ekapersada, and share several members of their boards of commissioners and directors. (EF/ZH)