Wednesday, November 6, 2024

Intiland Development CEO sells majority of shares for Rp52 billion

Reading Time: < 1 minute
Julian Isaac

Journalist

Editor

Interview

Hendro S. Gondokusumo, CEO of property developer PT Intiland Development (DILD), recently sold a significant portion of his shareholding in the company.

On October 29, 2024, he offloaded 260 million shares at Rp200 each, totaling Rp52 billion (US$3.3 million).

Following the sale, Hendro’s stake dropped from 2.51 percent to around 50,000 shares. He explained the sale as a “divestment step” to adjust his investment portfolio.

On Tuesday, November 5, 2024  afternoon, Intiland’s stock had dropped by 4 points or 2.21 percent, reaching Rp177 per share from its earlier trading levels.

PT Intiland Development, founded in 1983 and originally named PT Wisma Dharmala Sakti, is a major player in Indonesia’s real estate market.

The company focuses on developing residential, office, retail, and industrial properties, primarily in Jakarta and Surabaya, East Java. It went public in 1991 and rebranded to its current name in 2007.

Julian Isaac

Journalist

 

Editor

 

Interview

SUBSCRIBE NOW
We will provide you with an invoice for your reimbursable expenses.

Free

New to Indonesian market? Read our free articles before subscribing to the premium plan. If you already run your business in Indonesia, make sure to subscribe to the premium subscription so you won’t miss any intelligence & business opportunities.

Premium

$550 USD/Year

or

$45 USD/Month

Cancelation: you can cancel your subscription at any time, by sending us an email inquiry@ibp-media.com

Add keywords to your market watch and receive notification:
Schedule a free consultation with us:

We’ll contact you for confirmation.

FURTHER READING

Experts have questioned the government’s “wavering” stance on the benefits of early retirement of coal-fired power plants (PLTU), expressing hope that it would remain consistent with its energy transition commitment for the sake of greener and healthier environment.
The Attorney General’s Office (AGO) continued questioning former Supreme Court (MA) official Zarof Ricar, a suspect in the bribery and gratification case involving Ronald Tannur’s murder case and legal proceedings at the country’s highest Court system.
The Ministry of Energy and Mineral Resources (ESDM) calls on state-owned enterprises (BUMN) and the private sector to establish liquefied petroleum gas (LPG) production facilities as part of the efforts to reduce dependency on imports.
Minister of Communications and Digital Application, Meutya V. Hafid, has announced a target for expanding 4G infrastructure and signal coverage to ensure better connectivity in Indonesia’s 3T (frontier, outermost, and least-developed) regions.
Publicly listed food giant PT Mayora Indah exported US$1 million (Rp15. 8 billion) worth of snacks to 15 countries, including Palestine, on Tuesday, November 5, 2024. Mayora’s CEO, Andre Sukendra Atmadja, noted that while the value of products shipped to Palestine was not specifically tracked, popular items sent include wafers, chocolates, and biscuits.
A defense analyst says the Ministry of Defense’s plan to procure two Fast Missile Boats (KCR) from Turkiye as part of the measures taken by President Prabowo Subianto to set an example for domestic defense industry to improve the quality of its products.