FCC to join Citraland

FCC to join Citraland

SINGAPORE (Reuter): First Capital Corporation (FCC) said
yesterday that a subsidiary has agreed to acquire a 20 percent
stake in Indonesia's PT Citraland Adigraha.

Terms were not disclosed.

The agreement by the FCC subsidiary, First Capital (Overseas)
Pte Ltd, is subject to mutually satisfactory negotiations within
three months.

Citraland, controlled by the Ciputra group of companies,
including PT Ciputra Development, plans to develop a hotel,
shopping and office complex on a 5.3 hectare site in Jakarta, FCC
said.