The aggregate value of the renewed agreement is $1.8 million which is approximately 0.3% of the net tangible asset (NTA) and net asset value (NAV) of the NTA and NAV of First REIT as at Dec 31, 2021.
PT Karya Sentra Sejahtera (PT KSS), an indirect wholly-owned subsidiary of SGX-listed First REIT, has entered into a master lease agreement with PT Lippo Karawaci Tbk on Dec 22, where the lease with Imperial Aryaduta Hotel & Country Club is renewed.
The rent payable for the term is fixed at IDR20.24 billion ($1.76 million). The amount will be paid in rupiah and quarterly in advance.
