James Riady Assures Lippo Mall Will Not Put Up a Fence

JAKARTA - Entrepreneur who is also the owner of the Lippo Group, James Riady, ensures that Lippo malls will not install fences. He said that the fences that have been in a number of Lippo malls for the past 10 years have actually been dismantled.

James said this when asked by reporters about a number of malls that suddenly built a fence. The statement was delivered at the Presidential Palace Complex, Jakarta, Friday, July 31.

"Definitely not," said James when asked if Lippo malls would put up a fence.

James said Lippo's policy was the opposite. The fences that were previously in the Lippo mall had been lowered.

"What happened 10 years ago was a fence, we dismantled all the Lippo malls, we took them down," he said.

He then invited the business world and the community to maintain their spirit in the midst of economic dynamics and global situations.

"Let's all be excited," James said.

James did not turn a blind eye to the cautious attitude of entrepreneurs. According to James, caution is natural because the world is facing many upheavals.

"The caution of the entrepreneur is understandable. Indeed, this is a time when there will be more turmoil," he said.

However, he assessed that this condition must be answered with stronger financial management. The company's financial structure, said James, must be better arranged than in the previous period.

He gave an example, companies can no longer carelessly borrow money in US dollars for the short term and then use it to develop their business in Indonesia.

"For example, we can no longer borrow private money, borrow short-term US dollars and then enter Indonesia to develop businesses. Of course it's harder," said James.

Previously, James also said that the business world must still focus on creating jobs and mobilizing investment, especially in the regions.

According to James, not all entrepreneurs have the same level of confidence. Some are still worried about seeing the world's turmoil. However, James said that in general, business actors still see Indonesia as a promising market.