Jakarta – Marubeni Corporation (“Marubeni”) and PT Lippo Karawaci Tbk (“LPKR”) today announced a strategic partnership to expand into the Indonesian healthcare sector. The partnership involves the acquisition by Marubeni of an approximately 5% stake in PT Siloam International Hospitals Tbk (“Siloam”), Indonesia’s leading hospital operator, and the signing of an MOU with PT Lippo Karawaci to pursue business opportunities in the Indonesian healthcare infrastructure and services, including investments in pharmaceuticals, lab and other healthcare-related industries. Marubeni’s acquisition of its stake in Siloam is from a minority shareholder and Lippo Karawaci’s ownership stake in Siloam remains unchanged.
This partnership validates Siloam’s position as the market leader in what is one of the most attractive, under-penetrated and fastest growing healthcare markets globally. Siloam was established in 1996 and is the country's largest private hospital operator with more than 13,000 doctors and nurses, 36 hospitals and 7,557 beds across Indonesia.
Mr. Masayuki Omoto, Chief Operating Officer of Marubeni’s Next Generation Business Division, commented: “We are pleased to be growing our presence in Indonesia and look forward to a long term partnership with Lippo and Siloam. We are excited to be taking part in growing and improving the healthcare sector in Indonesia.”
Mr. John Riady, Chief Executive Officer of Lippo Karawaci commented: “Healthcare and Siloam is a core part of our business and we welcome the partnership with Marubeni. We look forward to continuing to develop the business and improve health care for all Indonesians.”
Marubeni is a leading Japanese integrated trading and investment business conglomerate. In April 2019, Marubeni established the Next Generation Business Development Division with the mission of pursuing new business models that provide solutions to social issues, and increasing corporate value over the long term toward 2030. The investment in Siloam and strategic partnership with LPKR will form the foundation of Marubeni’s expansion into healthcare infrastructure and services in Indonesia.
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:
Investor Relations:
Bret Ginesky
Head of Investor Relations
Bret.Ginesky@lippokarawaci.co.id
Office: +622125669078
Corporate Communicationss:
Danang Kemayan Jati
Vice President, Head of Corporate Communications
DanangJ@lippokarawaci.co.id
Mobile: +628557801299
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.
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.
