Share price of OUE Ltd, a property group controlled by Lippo Group, has dropped 29% since February, to make a market capitalization of S$1.38 billion. Shares of Lippo companies listed on Indonesia Stock Exchange (IDX) have also dropped significantly amidst concerns surrounding the giant Meikarta project. On Tuesday (Sep 25), however, OUE announced the acquisition of PT Asiatower Sudirman for S$150 million or around Rp1.63 trillion.
Read MoreThe trial of lawsuit for Suspension of Debts Payment (PKPU) filed against PT Mahkota Sentosa Utama (MSU), the developer of Meikarta township project, ended last week when the Panel of Judges decided to decline the lawsuit. The Panel of Judges stated that the dispute was too complicated to be resolved in a PKPU. On the same day, however, the plaintiffs registered a new lawsuit concerning the same dispute, stating that they will keep fighting. The dispute has now grown more serious after MSU reported the two plaintiffs to the police on suspicion of fraud.
Read MoreThe trial of the Suspension of Debts Payment (PKPU) filed against PT Mahkota Sentosa Utama (MSU), the developer of Meikarta township project, continues. The Company’s representatives provided more details on the dispute and informed that they had filed a police report
Read MoreWe understand that Lippo Group has been trying to give impression that global investors are enthusiasic in joining its Meikarta project. This might take sometime. In the meantime, financial soundness of the whole group will define the future of the ambitious township.
Read MoreShares of Lippo Karawaci (LPKR), parent company of Lippo Cikarang—-developer of Meikarta township, also fell 1.9% to Rp412 on Monday (May 7). Not as bad as Lippo Cikarang, but LPKR has lost half of its value since May 2017.
Read MoreShares of Lippo Cikarang (LPCK) collapsed 8.6% to Rp1,810 Monday (May 7). That means the stock lost 63% its value since April 2017, when the group formally launched the development of Meikarta township project.
Read MoreLippo Group’s Meikarta project is a big project not only in terms of numbers, but also in terms of its influence in the region wherein the project is based, West Java. Its influence has guaranteed it a place in the campaign messages of candidates competing in the West Java 2018 gubernatorial race. In this article we review who has said what on the Meikarta project.
Read MoreProperty developer Lippo Karawaci (LPKR) targets to raise Rp600 billion from its rights issue for 1.45 billion new shares, representing 5.9% of its enlarged capital, priced at Rp635 per unit. This action is expected to conclude in the first quarter (Q1) of 2018.
Read MoreForeign investors booked a net buy of Rp372.24 billion on Monday (Oct 23), cutting year-to-date net sell to Rp17.94 trillion. But profit taking hit certain stocks so that the composite index of the Indonesia Stock Exchange (IDX) only gained 0.35% to close at 5,950. Investors were focused on buying mining stocks yesterday; the sector gained 1.64%. Coal miners Bayan Resources (BYAN) gained 12.5% and Bumi Resources (BUMI) hiked 11.3%. Perusahaan Gas Negara (PGAS) also gained 3.9%.
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