JAKARTA. PT Bank Central Asia Tbk (BBCA), the bank with the largest market capitalisation in Indonesia, has scored IDR 16.33 billion of revenue from PT Grand Indonesia.

Said revenue was secured from the rental contract for a space of 1,930.68 square metres in BCA Tower, Central Jakarta. The rental rate agreed by both parties is IDR 23,500,000 per semi gross metre per month. The rental agreement will be effective for three years.

“It has yet to include VAT, which will be paid in advance every three months,” the management BBCA stated in its official disclosure.

BBCA claimed that this space rental is categorised as an affiliate transaction as dictated by the Financial Services Authority (OJK), as BBCA and Grand Indonesia are affiliated with each other.

“Grand Indonesia is indirectly controlled by the same people (that controls BBCA), Mr. Robert Budi Hartono and Mr. Bambang Hartono,” the management explained. (KR/ZH)