PT Nieltha Tama entered into a memorandum of understanding to acquire Goodway Hotel Batam from PT Hotel Mandarine Regency Tbk (IDX:HOME) for approximately IDR 160 billion on April 2, 2018. Upon completion, PT Hotel Mandarine Regency will continue to be the manager of Goodway Hotel Batam. KJPP Hendra, Widjaja, Robinson and Partners will act independent appraiser and KAP Herman Dody Tanumihardja acted as independent auditor in the transaction.