Jakarta -  PT Pikko Land Development Tbk (RODA) shareholders provided a bailout fund to the company and its subsidiaries amounting to Rp381.1 billion.

"On August 31, 2021, Pikko Land and its subsidiaries such as PT Multi Pratama Gemilang (MPG), PT Tiara Sakti Mandiri (TSM), PT Unggul Kencana Persada (UKP), PT Laras Maju Sakti, and PT Graha Inti Perfect have signed an agreement to grant the maximum shareholder bailout fund is Rp381.1 billion," said RODA President Director Eko Wiratmoko in the IDX information disclosure on Friday (3/9).

According to Eko, the company will use the bailout funds to finance land acquisition, operations, permits, project development, payment of bank loans, and other needs related to business activities, both developed by RODA and business entities.

"The details of the allocation of the shareholder's bailout fund are that RODA received a portion of Rp137.5 billion, MPG of Rp27.5 billion, TSM of Rp63.2 bi