Retzan Indonesia injects Rp7 billion of capital

PT Retzan Indonesia, a subsidiary of PT Indonesian Paradise Property Tbk (INPP) has recieved a down payment of capital as much as Rp7 billion. Retzan Indonesia is a company that manages a resort and hotel in Batam, Riau Island.

President Director of Indonesian Paradise Property, Agoes Soelistyo Santoso said the injection of capital will be used for daily operations. “Retzan Indonesia owns an area of 9.221 m2 in Batam Center, Batam. Since November 2011, Hotel Harris has been operating on that land,” he stated in letter to IDX.

The capital structure of Retzan Indonesia includes authorized capital as much as Rp40 billion and paid up and issued capital as much as Rp30 billion, such as deposits by Indonesia Paradise Rp29.97 bilion and PT Grahatama Kreasibaru Rp30 million –

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