General Announcement::CLARIFICATION ON NEWS ARTICLE

Issuer & Securities

Issuer/ Manager
SINARMAS LAND LIMITED
Securities
SINARMAS LAND LIMITED - SG1E97853881 - A26
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
08-Mar-2015 23:11:48
Status
New
Announcement Sub Title
CLARIFICATION ON NEWS ARTICLE
Announcement Reference
SG150308OTHRLR7V
Submitted By (Co./ Ind. Name)
Kimberley Lye Chor Mei
Designation
Company Secretary
Description (Please provide a detailed description of the event in the box below)
The Board of Directors of Sinarmas Land Limited ("SML" or the "Company" and together with its subsidiaries, the "Group") wishes to respond to the recent news article in The Business Times on 6 March 2015, titled "Sinarmas said to revive industrial estate IPO ".

On 26 August 2013, the Company announced that PT Puradelta Lestari Tbk ("PDL") had decided to delay its proposed listing of up to 10,844,575,000 new ordinary shares of par value of IDR100 each on the Indonesia Stock Exchange (the "Proposed IPO") based on the capital market conditions at that time. The Company also announced that PDL would continue to monitor market conditions and that it wished to continue with the Proposed IPO at the right time.

Since then, the Group constantly considers opportunities to re-launch the Proposed IPO, taking into account existing market conditions. As such, the Group has been engaged in discussions with a view to re-launch the Proposed IPO, and is reviewing the current market conditions to decide on the next steps, but has not yet made any formal IPO submission to Otoritas Jasa Keuangan (formerly known as BAPEPAM LK which is the equivalent of the Capital Market and Financial Institutions Supervisory Agency) in Indonesia.

The Board wishes to advise shareholders and investors to exercise caution in dealing with the Company's securities and to refrain from taking any action in respect of their securities which may be prejudicial to their interests.

The Company will make relevant announcement(s) at the appropriate time to update shareholders if there is confirmed development in respect of the Proposed IPO.

PDL is engaged in the construction/development of Kota Deltamas, a mixed development project located at Bekasi Regency, West Java, Indonesia, comprising residential units, commercial centres, industrial estate, business park, schools, hospital and other public facilities.

SML regards PDL as its subsidiary.

By Order of the Board
SINARMAS LAND LIMITED

Robin Ng Cheng Jiet
Director
8 March 2015