Jakarta – PT Lippo Karawaci Tbk (“LPKR” or the “Company”), Indonesia’s largest real estate company by assets and revenues, today announced the appointment of Tevilyan Yudhistira (“Yudhis”) Rusli as Chief Financial Officer (“CFO”) of the Company effective on April 16, 2020 and the appointment of Surya Tatang as Chief Investment Officer (“CIO”). Both Surya and Yudhis will report to the CEO and serve on the Company’s Board of Directors.
Yudhis will be responsible for the Company’s Finance and Governance functions, and brings with him over two decades of experience, with the past 20 years at Unilever. Yudhis’ most recent position was Chief Auditor of Unilever’s Global business based out of London, U.K. Prior to this role, Yudhis served as CFO of Unilever Indonesia for five years, controlling the finances of a business with a market capitalization of approximately $19 billion. In addition, in 2017 he was named Best CFO in Indonesia by SWA magazine. Through this position, Yudhis developed valuable understanding of the Indonesian consumer and strong experience managing the finances of one of Indonesia’s largest publicly-listed consumer Company’s. In his role, he has forged deep relationships with the Indonesian regulatory bodies.
Surya joined LPKR in March 2019 as Chief Financial Officer and was instrumental in the success of the Company’s transformation and corporate actions throughout 2019 and early 2020. Surya successfully led the completion of LPKR’s rights issue, $325 million bond refinancing, $95 million bond retap, bond tender and other key initiatives. These activities have significantly improved the Company’s capital allocation, financial strength and lowered its net debt to equity to an industry low 21%. In his new position, Surya will be responsible for LPKR’s real estate fund management business – an attractive growth driver of the business in the medium term – as well as the Company’s Investment activities.
John Riady, Chief Executive Officer of LPKR, commented: “We believe in building a talent-first organization, and I am thrilled to be working closely with both Yudhis and Surya as we continue to build Lippo Karawaci into not only the largest, but the most profitable real estate company in Indonesia, serving the Indonesian people.”
LPKR has a strong management team from diverse backgrounds, with extensive experience ranging from Real Estate Development, finance, risk management, regulatory compliance, investments, and investor relations.
LPKR’s management team is comprised of the following individuals:
About Lippo Karawaci (“LPKR”) (www.lippokarawaci.co.id)
Listed on the Indonesia Stock Exchange, Lippo Karawaci (“LPKR”) is Indonesia’s leading integrated real estate company with total assets of US$4.0bn at 30 September 2019. Our core business comprises urban residential developments, lifestyle malls and healthcare. We are also actively involved in integrated developments, hospitality, township development and management, as well as asset management services.
Currently, the Company has a presence in 35 cities, and is a leading Indonesian property developer with 1,461 ha of landbank ready for development. Through our two publicly listed subsidiaries, PT Lippo Cikarang Tbk, and PT Gowa Makassar Tourism Development Tbk, of which LPKR owns 81.0% and 62.7% respectively, LPKR develops and operates urban developments at Lippo Cikarang in Bekasi and at Tanjung Bunga in Makassar. Additionally, LPKR owns 51.05% of PT Siloam International Hospitals Tbk, Indonesia’s leading private hospitals network, with 36 hospitals across 24 cities nationwide.
LPKR also has an ownership stake in two listed REITs in Singapore, namely First Real Estate Investment Trust and Lippo Malls Indonesia Retail Trust with US$1.0bn and US$1.4bn of assets under management respectively, as at 30 September 2019.
For more information please contact:
Head of Investor Relations
Danang Kemayan Jati
Vice President, Head of Corporate Communications
This press release has been prepared by PT Lippo Karawaci Tbk (“LPKR”) and is circulated for the purpose of general information only. All opinions and estimations included in this release constitute our judgment as of this date and are subject to change without prior notice. LPKR disclaims any responsibility or liability whatsoever arising which may be brought against or suffered by any person as a result of reliance upon the whole or any part of the contents of this press release and neither LPKR nor any of its affiliated companies and their respective employees and agents accepts liability for any errors, omissions, negligent or otherwise, in this press release and any inaccuracy herein or omission here from which might otherwise arise.
Certain statements in this release are or may be forward- looking statements. These statements typically contain words such as "will", "expects" and "anticipates" and words of similar import. By their nature, forward looking statements involve a number of risks and uncertainties that could cause actual events or results to differ materially from those described in this release.