PCPD (00432) announced that on March 16, 2026 (before trading hours), the company, the seller Melati Holding Limited (an indirect wholly-owned subsidiary of the company), and the buyer Palace APAC New Infrastructure Investment GP entered into a share purchase agreement. Under the agreement, the seller agreed to (i) sell, and the buyer agreed to purchase, the entire issued share capital of the target company, and (ii) assign, and the buyer agreed to accept the assignment of, shareholder loans. The total consideration is $400 million (approximately HK$3.12 billion), subject to customary completion account adjustments.

The target company, Rafflesia Investment Limited, is primarily engaged in investment holding. As of the date of this announcement, the target company is wholly-owned by the seller. PT Prima's main business is property development and management. PT Prima is directly held 99% by Interstate Holdings and 1% by New Avenue, which are wholly-owned subsidiaries of City Charm and Ever Orient respectively. Both City Charm and Ever Orient are direct wholly-owned subsidiaries of the target company.

The entire interest in the property is held by PT Prima. The property is a premium Grade A office building named "Pacific Century Place, Jakarta," located in the core financial hub of the Sudirman Central Business District (SCBD) in Jakarta. The address is Jenderal Sudirman Kav. No. 52–53 Lot 10 Senayan, Kebayoran Baru, South Jakarta, Indonesia. The building is leased to multiple global multinational corporations, with a total gross floor area of approximately 93,316 square meters.