The Lippo Group relinquished control of the Meikarta project

PROPERTY MARKET - JAKARTA. Two issuers of the Lippo Group in the property sector, PT Lippo Karawaci Tbk (LPKR) and PT Lippo Cikarang Tbk (LPCK), finally submitted the financial statements as of June 30 2018, after being more than two months late.

As of June 30, 2018, Lippo Karawaci reported an increase in net profit by 135% to Rp 1.1 trillion. The increase in net income was mainly due to profits from the deconsolidation of PT Mahkota Sentosa Utama (MSU), the owner of the Meikarta project. (Translator: Barratut Taqiyyah Rafie)