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Jakarta Post

Supreme Court gives reclamation project green light

Publicly listed property giant PT Agung Podomoro Land (APL) may breathe a sigh of relief after the Supreme Court allowed the company to continue the construction of Islet G, one of the 17 islets planned to be constructed in Jakarta Bay.

News Desk (The Jakarta Post)
Jakarta
Tue, August 15, 2017

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Supreme Court gives reclamation project green light Fishermen of Muara Angke hold a rally on man-made Islet G in North Jakarta, in April 2016. (The Jakarta Post/Seto Wardhana)

 Publicly listed property giant PT Agung Podomoro Land (APL) may breathe a sigh of relief after the Supreme Court allowed the company to continue with construction work on Islet G, one of 17 islets to be created in the Jakarta Bay.

With its decision on Saturday the Supreme Court rejected an appeal by the Indonesian Forum for the Environment (WALHI) and the People’s Coalition for Fisheries Justice Indonesia (Kiara).

The decision reaffirmed a decision by the Jakarta Administrative Court that had rejected the two plaintiffs’ appeal against the Jakarta Government, which had issued a permit for the island construction, as the defendant in the dispute.

APL subsidiary PT Muara Wisesa is in charge of building the 161-hectare islet. According to APL’s financial statement released in June, the company’s asset in the islet are worth Rp 2.54 trillion.

Read also: Anies told to continue reclamation project

The statement also explains that the company had talked to legal consultants and considered that it had suffered no material losses apart from the delay on the islet’s construction.

Nevertheless, APL refrained from commenting on the verdict. “You may ask the policymakers [the Jakarta administration]. We as developers only follow them,” said APL head of investor relations Wibisono, as quoted by kontan.co.id.

Meanwhile, Investa Saran Mandiri director Hans Kwee said certainty on the islet’s development would help improve the company’s prospects as well as its stock price. [dea/bbn]

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