The Issue Of Meikarta Being Handed Over To A Subsidiary, Lippo Is Free Of Responsibility?

PT Lippo Cikarang Tbk (LPCK) said that the fulfillment of the responsibility of the Meikarta project belongs to PT Mahkota Sentosa Utama (MSU).

"We can convey that the fulfillment of the rights of consumer Meikarta apartments and the fulfillment of the handover target are fully the responsibility of PT Mahkota Sentosa," said LPCK Corporate Secretary Veronika Sitepu in information disclosure, on the Indonesia Stock Exchange (IDX) website, quoted Monday, January 20.

If you look at the May 2018 report, Meikarta is said to have not entered the Lippo Group property development portfolio. LPCK is said to have released IDR 2.02 trillion shares as the controlling shareholder of MSU.

In the financial report as of September 30, 2022, it shows that before the loss of control over the company's MSU, the difference in the investment value in MSU was Rp4.04 trillion as another equity component for the release of the investment ownership section in MSU.

After the divestment action, LPCK ownership in MSU reached IDR 2.01 trillion. However, the ownership of LPCK in MSU still remains 49.72 percent.

LPCK Corporate Secretary Veronika Sitepu said he had conveyed to MSU about the sell deposit option scheme as well as the terms and conditions. LPCK will announce after receiving a response from MSU management.

Veronika said LPCK as the shareholder of MSU supports the commitment and target of handing over Meikarta's consumer units in accordance with the homologation decision by taking into account the articles of association and applicable laws and regulations.

This is because Meikarta's apartment is located in the Lippo Cikarang area so that the increase in occupancy rates will have a positive impact on overall commercial activities. Meanwhile, he said there was no information or incident that could affect LPCK's survival and share price.