INKP - Business expansion through land acquisition

INKP - Business expansion through land acquisition Indah Kiat Pulp & Paper (INKP) is expanding its business by acquiring land. On September 8, 2023, INKP signed a purchase agreement for 34 plots of land totaling 2.08 mn square meters in Karawang, West Java, from Persada Kharisma Perdana (PKP). Additionally, they will acquire 8 plots of land totaling 1.13 mn square meters from Paramacipta Intinusa (PCI) in the same region. This expansion aims to boost production and sales due to INKP's 1H23 performance decline of 0.6% yoy in revenue and -32% yoy in net profit. (Source: Kontan)