Jakarta, December 10, 2018 – PT Modernland Realty Tbk. received an award at The 10th IICD Corporate Governance Award 2018, organized by the Indonesian Institute for Corporate Directorship in collaboration with Kontan.

The award recognizes public companies with strong commitment to implementing Good Corporate Governance (GCG), marking IICD’s 18-year contribution in promoting governance practices through training, research, consulting, and seminars.

The event carried the theme “Bringing about Changes: Opportunities and Challenges for Directors” and was held at Le Meridien Hotel, Jakarta.

It recognized the Top 50 Biggest Market Cap and Mid Cap Public Listed Companies in Indonesia, attended by Sri Mulyani Indrawati and Boediono.

PT Modernland Realty Tbk. received “The Best Top 50 Biggest Mid Cap of Public Listed Companies” award in the “Best Disclosure and Transparency” category.

The award was accepted by Freddy Chan.

“We are grateful to receive this award for the second time. This recognition motivates us to further improve our corporate governance practices and remain at the forefront of Indonesia’s property industry,” said Freddy Chan.

The Company continues to develop various projects through its subsidiaries, including PT Mitra Sindo Sukses, which develops Jakarta Garden City in East Jakarta.

The development of IKEA’s second store in Jakarta Garden City is expected to enhance the township’s attractiveness and property sales.

In the industrial sector, through PT Modern Industrial Estat, the Company is developing ModernCikande Industrial Estate, including the Modern Halal Valley, a 500-hectare integrated halal industrial zone.

In hospitality, the Company operates Swiss-Belinn ModernCikande Banten, offering modern accommodation facilities to support business activities in the industrial area.

“We will continue expanding across all business lines and remain optimistic about the property sector’s outlook in 2019,” he concluded.