Lippo Cikarang , Bekasi , Indonesia
Wednesday, March 23, 2016
PT Lippo Cikarang Tbk (“LPCK”) today, 23rd March 2016 announced some important outcomes from its Annual General Meeting of Shareholders (AGM), which approved a change in the Board of Commissioners and Directors, as follow:
President Commissioner : Lee Heok Seng
Vice President Commissioner : Ketut Budi Wijaya
Independent Commissioner : Ganesh Chander Grover
Independent Commissioner : Hadi Cahyadi
Independent Commissioner : Setyono Djuandi Darmono
Commissioner : Sugiono Djauhari
Commissioner : Chan Chee Meng
President Director
And Independent Director : Toto Bartholomeus
Director : Hong Kah Jin
Director : Ju Kian Salim
Director : Norita Alex
Independent Director : Stanley Ang Meng Fatt
In 2015, LPCK recorded an increase in revenue amounting to IDR2.12 trillion, up 18% from the same period in the previous year of IDR1.80 trillionand net income of IDR915 billion, an increase of 8%from IDR846 billion in 2014.
Despitetheweakermacroeconomic situation and Rupiah headwinds, the newly appointed President Director of LPCK, Toto Bartholomeus said the company managed to book solid growth in revenue and net income last year on the back of strong project work completion and is now launching Orange County-the Globally Connected City, a 322 hectares world class mixed use property project that requires investments of IDR 250 trillion. This project is prepared to serve as a sustainable project to support the Company’s growth in the future. As of December2015, the Company successfully launched five apartment towers in Orange County, which are Irvine Suites, Westwood Suites, Pasadena Suites, Burbank Suites and Glendale Park, which were sold out in a few hours after launching. Orange County is well supported with convenient facilitiessuch asthe Hikari Japanese School, MaxxBox retail center with tenants like Hypermart, Cinemaxx and Maxx Coffee, that are available to accomodate the people’s needs in the golden triangle area of Cikarang industrial estate.
Toto also said “Marketing Sales in 2015reached IDR2,69 trillion, a staggeringincreaseof 42% from 2014, with the largest contribution from the sale of apartments in Orange County of IDR1,71 trillion, or more than 63% of total sales of LPCK. Amid the generalslowing economic growth and a tighter regulatory environment for housing loans, the activities and businesses of LPCK performed admirably in 2015. The Orange County projectis a sustainable project to support thegrowth of LPCK in the future.”
In the 2ndquarter of 2016, the Company will launch Newport Park, the 6th apartment tower in Orange County, together with the 5th apartment tower, they are both a joint cooperation project with Mitsubishi Corporation. LPCK will also launch a new residential cluster in Lippo Cikarang namely “Acacia Garden” with Duplex ArchitectureConcept. Acacia Garden has two types, Orchid types and Aster types, both with building area (LB) and land area (LT) ratio of 43m2 / 72m2.
LPCK is an urban development with a total area more than 3.250 hectares where industry forms its base economy. LPCK succeeded in building more than 14.000 units of residential homes, with a population of 47.700 residents and around 448.000 people working daily in 920 manufacturing companies spread out in the Lippo Cikarang industrial area.
LPCK is a subsidiary of PT Lippo Karawaci Tbk (“LPKR”), Indonesia’s leading and largest listed property company by total assets and revenues, anchored by a large land bank and solid recurring income. LPKR’s business comprises residential/township, hospitals, retail malls, hotels and asset management.
LPCK is a company listed at the Indonesia Stock Exchange, with a market capitalization of more than IDR 4,9 trillion, or equivalent to US$ 347 million as of March18, 2016.
For further information, please contact:
Dea Thamrin
Head of Corporate Secretary
PT Lippo Cikarang Tbk
Telp.021-897 2484/2488
Visit our website at www.lippo-cikarang.com
