Jakarta, November 19, 2024 – PT Lippo Cikarang Tbk (“LPCK”) announced the results of the Extraordinary General Meeting of Shareholders (“EGMS”) held on Tuesday, 19 November 2024 at Aryaduta Menteng, Jakarta.
At the EGMS which was held in a ‘hybrid’ manner (physical and electronic), the shareholders have approved the agenda to conduct a capital increase by granting pre-emptive rights II (PMHMETD II) or rights issue.
In the EGMS, the Company issued a maximum of 3 billion new shares with a nominal value of IDR 500 per share. The funds obtained from this rights issue will be used for the Company’s working capital and/or capital participation in subsidiaries owned by the Company, either directly or indirectly, which will support business activities.
Gita Irmasari, the President Director of LPCK said, “The purpose of this rights issue plan is to develop the Company’s business and to support the Company’s revenue growth, profitability and business prospects in the future. We also hope that this rights issue can provide benefits and added value for the Company, shareholders and other stakeholders.”
As of September 2024, the Company managed to achieve pre-sales of IDR 1,055 billion, equivalent to achieving 74% of the 2024 target of IDR 1,435 billion.
The pre-sales achievement as of September 2024 were supported by residential projects, namely Waterfront Uptown, Newville, and Cendana Spark, as well as high demand for residential sales and commercial shophouses with contributions of 64% and 27%, respectively. The remaining 9% consists of industrial land sales.
Overview of Lippo Cikarang
LPCK has shown its reputation as an urban property developer with international standard facilities Lippo Cikarang Cosmopolis. Lippo Cikarang is located on an area of approximately 3,250 hectares in the largest industrial area in Southeast Asia. LPCK has succeeded in building more than 20,188 houses and a population of 71,917 people. In the Lippo Cikarang industrial estate, there are around 674,794 people who work every day in 1,519 manufacturing facilities.
LPCK is a subsidiary of PT Lippo Karawaci Tbk (“LPKR”). LPKR is a leading real estate and healthcare platform in Indonesia, which is present in 26 provinces and 56 cities throughout Indonesia and has total assets of IDR 9,682 billion as of December 31, 2023. LPKR is supported by solid recurring income and supported by diverse land inventory. LPKR’s business consists of Real Estate development, Health Services and Lifestyle.
For more information :
Corporate Communication
T: 021-8972484 / 021-8972488
E: corporate.communication@lippo-cikarang.com
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This press release has been prepared by PT Lippo Cikarang Tbk (“LPCK”) 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. LPCK 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 LPCK 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.
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