November 28, 2019, Jakarta – PT Lippo Karawaci Tbk ("LPKR") and Japan-based SoftBank Corp. ("SoftBank"), today, announced a strategic alliance to cooperate in the development and dissemination of “Artificial Intelligence” (AI) and "Internet of Things" (IoT) powered solutions in the real estate and mobility ecosystems in Indonesia. Lippo Village in Karawaci is the priority location for this project with plans to develop “Lippo Village as central hub of technology application & research in South East Asia”.
A signing ceremony was held at the Aryaduta Hotel in Jakarta on November 28, 2019 between Lippo Karawaci’s CEO John Riady and SoftBank’s Vice President and Head of Global Business Strategy Hidebumi Kitahara. Following the signing, John Riady said, "We are excited to move forward and collaborate with SoftBank to develop AI and IoT-based innovative solutions for our customers across the largest integrated real estate and healthcare company in Indonesia. Within our township, we intend to implement IoT technology through Smart Cluster Management and Smart Traffic Management in Lippo Village."
Hidebumi Kitahara added, “We are very pleased that we could launch this AI and IoT initiative together with Lippo Karawaci to make Lippo Village even more comfortable for residents and tenants. SoftBank will utilize its technology deployment insights to introduce advanced technologies to shopping malls and other commercial facilities, hospitals, and the entire Lippo Village area. Through this, we aim to develop Lippo Village as a Smart City model case in South East Asia."
Smart Cluster Management utilizes advanced camera technology for facial recognition of occupants in vehicles and also has the ability to read motor vehicle license plate numbers of township residents and identify unknown visitors.
Smart Traffic Management itself, through smart CCTV mode, provides the ability to count the number of vehicles that enter into an area, while at the same time is able to identify and differentiate between vehicle types including motorcycles, cars, buses and trucks. Implementation of this technology will drive improved traffic management and allow for improved and more seamless traffic flow at specific times throughout the day.
Furthermore, the cooperation between LPKR and SoftBank will bring a new analytics platform powered by AI and Big Data that will dramatically improve customer experiences. This platform will be expanded to the mall segment, combining the largest retail mall owner and operator with the innovative technology applications that SoftBank provides via its IoT technology. This cooperation will provide customers with a cutting-edge experience that links their user behavior with special offers and rewards across Lippo’s expansive 51 mall network. In addition to improving the customer’s experience, this technology allows the mall and its stores to offer customer-centric offers that provide a unique and “smart” shopping experience. In addition, this cooperation will include Siloam Hospitals in the application of smart healthcare.
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$3.7bn at 30 June 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 36 cities, and is a leading Indonesian property developer with 1,467 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 37 hospitals across 27 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$1.5bn of assets under management respectively, as at 30 June 2019.
About SoftBank Corp. (“SoftBank”) (www.softbank.jp/en/)
Guided by the SoftBank Group’s corporate philosophy, “Information Revolution – Happiness for everyone,” SoftBank Corp. (TOKYO: 9434) combines telecommunications services with cutting-edge technologies to create and operate new businesses. SoftBank Corp. serves more than 44 million mobile consumer and enterprise subscribers in Japan, and as part of its “Beyond Carrier” strategy, is redefining industries by leveraging its unique strengths as a network operator to fully harness the power of 5G, big data, AI, IoT, robotics and other key technologies.
For more information please contact:
Lippo Karawaci
Investor Relations:
Bret Ginesky
Head of Investor Relations
Bret.Ginesky@lippokarawaci.co.id
Mobile: +62818181815
Corporate Communications:
Danang Kemayan Jati
Vice President, Head of Corporate Communications
DanangJ@lippokarawaci.co.id
Mobile: +628557801299
SoftBank Corp.
Corporate Communications:
Matthew Nicholson
Corporate Media Relations
matthew.nicholson01@g.softbank.co.jp
Mobile: +817032952953
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.
