Royal Oak Development Asia Tbk (JKSE:RODA) acquired 60% stake in PT Megatama Karya Gemilang from Nio Yantony and Hendro Setiawan for IDR 72 billion on February 29, 2012. Royal Oak acquired 450 shares from Hendro Setiawan and 300 shares from Nio Yantony. The transaction is funded by internal cash, bank loan, third party and shareholders. The transaction is targeted to realize in the first quarter of 2012. Royal Oak Development Asia Tbk (JKSE:RODA) completed the acquisition of 60% stake in PT Megatama Karya Gemilang from Nio Yantony and Hendro Setiawan on February 29, 2012.