Lippo Village, Tangerang, Indonesia
Tuesday, June 5 2018
PT Lippo Karawaci Tbk (“LPKR”) announced today at its Annual General Meeting Shareholders (“AGM”) the distribution of dividends for financial year 2017 amounting to Rp61.5 billion or Rp2.7/share.
LPKR Revenues of Rp11 trillion in FY 2017, increased by 1% from Rp 10.9 trillion in FY 2016. The company booked EBITDA and net profit after tax of Rp 2.2 trillion and Rp 614 billion, respectively, in the midst of weak property sector. The completion of Lippo Plaza Jogya sale to LMIRT contributed Rp 543 billion and Rp 67 billion in Revenue and Net Profit in FY 2017 respectively.
Development Revenue shrank by 18% to Rp 3.5 trillion, contributing 31% to total Revenue. Whilst, Recurring Revenue anchored by Healthcare played a crucial role in mitigating the weakness of the property business. Recurring Revenue grew by a healthy 13% to Rp 7.6 trillion and contributing 69% to total Revenue. Revenue from the Healthcare Division grew by 13% to Rp 5.8 Trillion, accompanied by a 5% increase in the Commercial Division revenue to Rp 770 billion. The Asset Management business grew by 15% to Rp 983 billion.
In addition to annual dividend, LPKR also announced changes to its Board of Commissioners and Board of Directors. The AGM has appointed Hendra Sidin and Marshal Martinus as Directors.
The new composition of Board of Commissioners and Board of Directors are as follows:
President Commissioner : Theo L. Sambuaga
Independent Commissioner : Agum Gumelar
Independent Commissioner : Farid Harianto
Independent Commissioner : Sutiyoso
President Director : Ketut Budi Wijaya
Vice President Director : Hendra Sidin
Director : Tjokro Libianto
Director : Marshal Martinus Tissadharma
Director : Richard Setiadi
Director : Wijaya Subekti
Independent Director : Alwi Sjaaf
Ketut Budi Wijaya, President Director of LPKR stated, “On behalf of the Board of Directors, I would like to express my gratitude and appreciation for the trust that shareholders and customers have given to LPKR. I would also like to thank the management and employees who have given their dedication and contribution during the past year. I am also thankful to our business partners and the government for their continued support. Finally, I would like to thank and convey my appreciation to our Board of Commissioners for their guidance to the Board of Directors in managing LPKR. In this opportunity, I would like to extend our sincere gratitude towards Mr. Surjadi Soedirja, for his guidance and advice during his tenure as member of Board of Commissioners. Further, I would also thank to Chan Chee Meng for his contribution during his tenure as member of Board of Directors. I would also like to congratulate and welcome Hendra Sidin and Marshal Martinus to the Board of Directors. Their extensive backgrounds and practical experience in their respective fields will further strengthen LPKR’s management and operations in their new role.”
About Lippo Karawaci (“LPKR”) (www.lippokarawaci.co.id)
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 51.05% of PT Siloam International Hospitals Tbk (“SILO”), the largest private hospitals network in Indonesia, which currently manages and operates 33 state-of-the-art-hospitals in 24 cities throughout the country, comprising 12 hospitals in Greater Jakarta and 21 hospitals distributed across Java, Sumatra, Kalimantan, Sulawesi, Bali and Nusa Tenggara supported by more than 2,700 specialists and general practitioners as well as over 10,000 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 9 trillion or USD 651 million as at May 30, 2018.
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For more information please contact:
Investor Relations:
William Wijaya Utama
Senior Manager
[email protected]
Mobile: +62818138688
Corporate Communications:
Danang Kemayan Jati
Vice President, Head of Corporate Communications
[email protected]
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.
