PT Lippo Cikarang Tbk (“LPCK”) today announced its financial results for the second quarter ended June 30, 2017. The Company reported Total Revenue of Rp 842 billion, Gross Profit of Rp 403 billion and Net Profit of Rp 262 billion.
The Residential Housing & Apartment’s Revenue grew to Rp 635 billion, representing 75% of Total Revenue.
LPCK’s Recurring Revenue increased by 7% to Rp 137 bilion in Q2 2017 from Rp 128 bilion in Q2 2016, contributing 16% to Total Revenues in Q2 2017.
LPCK’s total assets grew from Rp 5.65 trillion to Rp 6.22 trillion as at 31 December 2016 and 30 June 2017 respectively.
Toto Bartholomeus, President LPCK said: “While we face challenges due to the decline in Indonesia’s macro economic growth, which led to weaker customer buying power, coupled with increasing competition in the sector of high rise property market, we keep working hard in preparing for LPCK’s development.
Currently LPCK has started the construction of a new international city called Meikarta with total project value exceeding Rp278 trillion, with Orange County as its CBD.
The modern giant city of Meikarta is located at the heart of Indonesia’s economic activity, at the Jakarta – Bandung corridor. About 60% of Indonesia’s economic activities are takes place at the Jakarta – Botabek – Bandung area and 70% of them are based in the Bekasi – Cikarang area, a region that is estimated to have a population of 15 million in the next 20 year. This is where the center of Indonesia’s economic activities will take place.
This modern giant city of Meikarta is also located in the middle of this corridor and is surrounded by seven industrial townships among others are Lippo Cikarang, Jababeka, MM2100, etc.
Meikarta is expected to emerge as the most complete modern city that offers the most beautiful and most complete infrastructure in Southeast Asia.
Today, the central government has started to develop 6 new important infrastructure in the region, among others:
Meikarta’s development covers an area of 500 hectares (Ha), with skyscraper buildings, designed to have 35 to 46 storeys.
LPCK’s achievements and reputation as a property developer has proved that LPCK is an independent developer of urban areas with various facilities befitting of an international standard city covering an area of approximately 3,250 hectares with an industrial area as its economic base. LPCK has successfully built more than 14,000 homes, with a population of 50,720 residents and 484,300 people who work here daily for the 993 manufacturing companies spread throughout the Lippo Cikarang industrial area.
LPCK is a subsidiary of PT Lippo Karawaci Tbk (“LPKR”). LPKR is the largest property company in Indonesia in terms of total assets and revenue and is listed on the Indonesian Stock Exchange, and is supported by a strong land bank and solid recurring income. LPKR’s business comprises Residential/Township, Retail Malls, Hospitals, Hotels and Asset Management.
LPCK is listed on the Indonesian Stock Exchange with a market capitalization of Rp 2,9 trillion or the equivalent of US $ 215 million as at 30 June, 2017.
For More Information Please Contact:
Dea Thamrin
Corporate Secretary
PT Lippo Cikarang Tbk
021-8972484/021-8972488
Hong Kah Jin
Director
PT Lippo Cikarang Tbk
021-8972484/021-8972488
