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3 years ago
INDONESIA PRESS-AKR Corporindo to boost property business -Kontan
November 20, 2014 / 1:27 AM / 3 years ago

INDONESIA PRESS-AKR Corporindo to boost property business -Kontan

PT AKR Corporindo, a distributor of basic chemical and petroleum products, is targeting earnings from its property business to reach 10 percent of total revenue in three years, up from 5 percent, the Kontan newspaper reported quoting AKR Managing Director Widijanto.

The firm plans to develop three apartment towers, hotels, art galleries and office buildings on a site in West Jakarta, with a total investment of around 3.5 trillion rupiah ($288.3 million).

Note: Reuters has not verified this story and does not vouch for its accuracy. (1 US dollar = 12,140.0000 rupiah) (Compiled by Jakarta Newsroom; Editing by Prateek Chatterjee)

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