Lippo Karawaci Owned By Conglomerate Mochtar Riady Splashes Interim Dividend Of Rp126 Billion From Lippo Cikarang

Lippo Karawaci area. (Photo: Doc. Lippo Karawaci)

JAKARTA - Property developer owned by Mochtar Riady conglomerate, PT Lippo Karawaci Tbk (LPKR) will receive an interim dividend of Rp126 billion from another tycoon's company, namely PT Lippo Cikarang Tbk (LPCK) on September 22, 2021.

LPCK will distribute a total interim dividend of Rp150 billion. This figure is equivalent to Rp56 per share in accordance with the decision of the Board of Directors and Board of Commissioners of LPCK, in which dividends will be paid on September 22, 2021.

Lippo Karawaci CEO John Riady said, LPKR holds 84 percent of LPCK's shares, so it will receive a dividend of Rp126 billion. The grandson of the conglomerate Mochtar Riady said the company's performance growth was strongly supported by LPCK's performance growth, both through the sale of industrial land, commercial projects, and Waterfront Estates.

He explained that recently, LPKR had revised its pre-sales target throughout 2021 to Rp4.2 trillion from the previous estimate of Rp3.5 trillion.

"The contribution of the LPCK, of course, plays an important role in achieving the revised target," said John in a written statement, quoted Wednesday, September 22.

In terms of performance in the first semester of 2021, LPCK's total revenue reached Rp655.1 billion, which was supported by sales of residential houses and apartments which reached Rp398 billion. This sector contributes 60.8 percent.

LPCK also noted the sale of commercial land in the form of shophouses (ruko) and industrial lots worth Rp67.1 billion, which contributed 10.2 percent of the total revenue.

In addition, LPCK posted a gross profit of Rp294.9 billion, including landed houses and apartments of Rp160.9 billion, which represented 54.6 percent of the company's gross profit.