The South Jakarta District court has ruled the lawsuit against PT. Kepland Investama, a wholly-owned subsidiary of Keppel Land, as “inadmissible”.
The civil action was commenced by a Raden Saleh Abdul Malik in February 2022. In Keppel’s filing on Feb 14, 2022, Raden claimed that the land, where the International Financial Centre Jakarta Tower 2 building complex is located on, belongs to him and not PT. Kepland Investama.
At the time, Raden had sued for a compensation of IDR1.72 trillion ($161.5 million) as well as the foreclosure of the disputed land plots.
Shares in Keppel Corporation BN4 closed 2 cents higher or 0.36% up at $5.56 on March 29.
