JAKARTA – PT Bumi Serpong Damai Tbk (BSDE) and PT Astra Land Indonesia (ALI) establish a joint venture named PT Ruby Karya Sejahtera (RKS) that is engaged in the property sector. For the record, both companies are not affiliated.

Hermawan Wijaya, Director of Bumi Serpong Damai, confirmed that the authorized capital set for RKS amounts to IDR 10 billion, consisting of 10,000 shares of IDR 1 million each. The issued and paid-up capital is IDR 10 billion. ALI has a claim over 7,500 shares of those or IDR 7.5 billion, whereas BSDE has 2,500 shares worth IDR 2.5 billion.

ALI is an indirect subsidiary of  PT Astra International Tbk (ASII), which was formed in December 2021.

This year, BSDE will launch property products and offer them for IDR 1 billion to IDR 30 billion per unit. The products include landed houses, shophouses and apartment, as well as commercial land plots. (LK/ZH)