Press Release
Lippo Launches Meikarta, a New City in the Center of Indonesia Economic Activities. Siloam Shareholders Approved Second Right Issue Plan
7 September 2017

Denpasar, Bali
Thursday, 7 September 2017

PT Lippo Karawaci Tbk (“LPKR”) at its Annual Public Expose ‎held at Denpasar, Bali reported on this year’s important highlights.

MEIKARTA, the most ambitious and exciting new international city, is Lippo’s largest investment project ever undertaken since more than six decades ago. MEIKARTA is located at the heart of the fast growing Jakarta-Botabek-Bandung corridor, wherein 60% of Indonesia's national economy is located.  MEIKARTA is also surrounded by several new cities, including Lippo Cikarang, Jababeka, and MM2100, industrial estates area that produce more than 1 million cars, 10 million motorcycles, millions of refrigerators, various high end electronic products and household appliances, annually. 

The strategic value MEIKARTA will be further appreciated as several important key infrastructure project are being built in this area, such as the Jakarta-Bekasi-Cikarang-Bandung rapid train, the Patimban Deep Seaport, the Kertajati International Airport, the Light Rail Transport (LRT) Cawang-Bekasi Timur-Cikarang, the Automated People Mover (Monorail) which unites seven new cities around Meikarta, and the Jakarta-Cikampek Elevated Highway. MEIKARTA will have world-class infrastructures and facilities, such as shopping centers, health centers, international hospitals, international financial centers, five star hotels, a national library, opera theater & art centers, national and international education establishments, national universities, an industrial research center, and an international exhibition center. 

Furthermore, as part of the company’s continued expansion plans for hospitals and retail malls, year to date, LPKR through its healthcare subsidiary Siloam, has acquired four hospitals, namely Rumah Sakit Umum Sentosa (“Sentosa”) in Bekasi in the amount of Rp 26,5 billion and Rumah Sakit Grha Ultima Medika (“GUM”) in Mataram in the amount of Rp 155 billion, and Rumah Sakit Umum Putera Bahagia (“RSUPB”) in Cirebon in the amount of Rp 130 billion, and Rumah Sakit Hosana Medica (“RSHM”) in Bekasi in the amount of Rp 150 billion. On top of these Rp 461 billion acquisitions, Siloam has also opened four greenfield hospitals, namely Siloam Hospitals Bangka Belitung, Siloam Hospitals Bogor, Siloam Hospitals Yogyakarta, and Siloam Hospitals Bekasi Timur, bringing the total number of hospitals under the management of Siloam to 31.

Moreover, in the extraordinary general shareholders meeting (EGM) on September 4, 2017, Siloam has obtained the approval from shareholders for the second Rights Issue plan, to raise capital, a maximum of 325,153,125 new shares or 20% of paid-up capital at par value of Rp100 per share, with the exercise price at Rp 9.500 per share, generating Rp 3.09 trillion fund for among others hospitals expansion plans, directly or indirectly through its subsidiaries. Siloam targets to operate and manage 50 hospitals by end of 2019. 

Lippo Malls Indonesia, a subsidiary of Lippo Karawaci managed a new mall in Jember, East Java, known as Lippo Plaza Jember on May 31st. With a total floor area of 64,500 sqm and net leasable area of 28,000 sqm, Lippo Plaza Jember will develop a mixed-use concept that combines commercial areas with public services, such as Siloam Hospitals, which are being built in the complex. By end of June 2017, Lippo Malls manages 47 malls across Indonesia, with total GFA of 3.3 million sqm and overall average occupancy of 88%.

LPKR is pleased to announce that it has been a recipient of several awards in 2017. Among them are: the 100 Fastest Growing Companies 2017 for property companies with assets above Rp 10 trillion.  Lippo Cikarang (“LPCK”) also received 100 Fastest Growing Companies 2017 for property company with assets Rp 5-10 trillion. These two awards were from Infobank magazine.

Additionally, both LPKR and LPCK received certificates of appreciation from Association of Indonesian Securities Analyst in cooperation with CSA Institute as one of Public Listed Companies selected by Analysts in 2017.

More importantly, LPKR received two awards, as “One of the Most Valuable Indonesian Brands 2017” and “Highest Ranking Growth in Indonesia 2017” by Brand Plc, the world’s leading independent brand valuation and rating firm. These two awards are based on detailed analysis of data obtained from public and other sources, which is reviewed by an expert panel of brand analysts and consultants.

Ketut Budi Wijaya, LPKR President Director in his concluding remarks stated "The past two years has been challenging years for property sector resulting in relatively flat revenue growth and reduced profitability, mainly due to softer demand for township developments. However, this year we are excited and optimistic about the prospects of our property business given our new project launched, MEIKARTA, which have recorded Rp 2,4 trillion in marketing sales as at 6M 2017. More importantly, our long awaiting, Siloam Hospitals Yogyakarta has finally been operated and now it is back in the pipeline to be injected to the REITS. Our capital recycling business model, will once again support our overall revenue for FY 2017.”

About PT Lippo Karawaci, Tbk (“LPKR”) (

LPKR is Indonesia's largest listed property company by total assets and revenues, anchored by a large land bank and solid recurring income base. LPKR's businesses comprise Residential/Townships, Retail Malls, Hospitals, Hotels and Asset Management. LPKR develops residential, light industrial, commercial, retail properties throughout Indonesia. LPKR through its subsidiaries manage and operate hospitals, malls and hotels in major cities in Indonesia and also provides a broad range of infrastructure services to the residents of our developments, and other property management and REIT management services.

Through our two main publicly listed subsidiaries, PT Lippo Cikarang, Tbk (“LPCK”) and PT Gowa Makassar Tourism Development Tbk (“GMTD”), of which LPKR owns 54.4% and 62.7% respectively, LPKR develops and currently operates urban developments at Lippo Cikarang in Bekasi and at Tanjung Bunga in Makassar.  In addition, LPKR owns 62.1% of PT Siloam International Hospitals Tbk (“SILO”), the largest private hospitals network in Indonesia, which manages and operates 31 state-of-the-art-hospitals in 22 cities throughout the country, comprising 12 hospitals in Greater Jakarta and 19 hospitals distributed across Java, Sumatra, Kalimantan, Sulawesi, Bali and Nusa Tenggara supported by more than 2,500 specialists and general practitioners as well as over 9,000 nurses and support staff.

LPKR has created and sponsored two public listed REIT in Singapore, namely First Real Estate Investment Trust (“First REIT”) and Lippo Malls Indonesia Retail Trust (“LMIR Trust”). LPKR is listed on the Indonesian Stock Exchange with market capitalization of IDR 18.1 trillion or USD 1.36 billion as at August 31, 2017.

About PT Siloam International Hospitals, Tbk (

PT Siloam International Hospitals Tbk (“Siloam”) operates the largest private hospital network in Indonesia. Started with 1 hospital in 1996 and growing to 4 hospitals by 2010, Siloam now manages and operates 31 state-of-the-art-hospitals, comprising 12 hospitals in Greater Jakarta and 19 hospitals distributed across Java, Sumatra, Kalimantan, Sulawesi, Bali and Nusa Tenggara supported by more than 2,500 specialists and general practitioners as well as over 9,000 nurses and support staff. Of the 31 hospitals in operation, 20 hospitals are already serving BPJS (National Insurance Program) patients and more to follow in the near future. To meet the demand for world-class medical services by a growing Indonesian middle class as well as the demand from the introduction of the national healthcare plan, Siloam is rapidly increasing the numbers of hospitals and broadening the services it offers. Committed to delivering world class healthcare services, Siloam invests in the latest medical equipment including 14 Cath Labs, 15 MRI, 30 CT-Scan, 1 Gamma Knife, 2 Linear Accelerators, and 1 Cyclotron within its integrated network. Investment in both technology and medical staff supports a strategic goal to offer a comprehensive range of specialist and general medical services including complex surgical procedures, laboratory services, radiology and imaging services, fertility treatment, diagnostic and emergency services. Looking forward, Siloam will continue its focus on ensuring patient satisfaction and expanding the reach of the network. Revenue growth will be driven by increasing contributions from recently opened hospitals and the ramp-up of hospital operations as they gain greater recognition in their locations.

Siloam owns the first JCI accredited hospital in Indonesia and currently has 2 JCI accredited hospitals. In addition, Siloam is also a repeat winner of “Frost & Sullivan, Indonesia’s Healthcare Service Provider of the Year”. Siloam is listed on the Indonesian Stock Exchange under the ticker name “SILO” and a market capitalization of Rp 14.3 trillion or USD 1.07 billion as of August 31 2017.

For more information please contact:

Investor Relations:
William Wijaya Utama
Senior Manager
Mobile: +62818138688

Corporate Communications:
Danang Kemayan Jati
Vice President, Head of Corporate Communication
Mobile: +628557801299

This press release has been prepared by PT Lippo Karawaci Tbk (“LPKR”) and is circulated for the purpose of general information only. It is not intended for any specific person or purpose and does not constitute a recommendation regarding the securities of LPKR.  No warranty (expressed or implied) is made to the accuracy or completeness of the information. 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.

Forward-Looking Statements 
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. Factors that could cause actual results to differ include, but are not limited to, economic, social and political conditions in Indonesia; the state of the property industry in Indonesia; prevailing market conditions; increases in regulatory burdens in Indonesia, including environmental regulations and compliance costs; fluctuations in foreign currency exchange rates; interest rate trends, cost of capital and capital availability; the anticipated demand and selling prices for our developments and related capital expenditures and investments; the cost of construction; availability of real estate property; competition from other companies and venues; shifts in customer demands; changes in operation expenses, including employee wages, benefits and training, governmental and public policy changes; our ability to be and remain competitive; our financial condition, business strategy as well as the plans and objectives of our management for future operations; generation of future receivables; and environmental compliance and remediation. Should one or more of these uncertainties or risks, among others, materialize, actual results may vary materially from those estimated, anticipated or projected. Specifically, but without limitation, capital costs could increase, projects could be delayed and anticipated improvements in production, capacity or performance might not be fully realized. Although we believe that the expectations of our management as reflected by such forward-looking statements are reasonable based on information currently available to us, no assurances can be given that such expectations will prove to have been correct. You should not unduly rely on such statements. In any event, these statements speak only as of the date hereof, and we undertake no obligation to update or revise any of them, whether as a result of new information, future events or otherwise.