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Retail Asia03/01/2020

Indonesian retail shopping mall platform NWP Retail is set to acquire five shopping malls, two owned by local subsidiaries of Singapore-listed Lippo Malls Indonesia Retail Trust. The two Lippo Malls will be purchased for a total price of IDR1.30 trillion (US$92 million), while the other three mall purchases total approximately IDR440 billion (US$31.5 million). The […]

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Retail Asia02/11/2018

Lippo-backed cashless payment service OVO has announced a partnership with Tokopedia, Indonesia’s largest e-commerce platform. OVO said in a statement on Wednesday that the deal would help it cement its position as the country’s largest mobile payment platform in terms of transaction volume and reach. “The partnership will add Tokopedia’s close to 80 million active […]

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Retail Asia05/09/2018

The Lippo Group handed the first 863 apartments in its Meikarta megaproject in Cikarang, Bekasi, West Java, over to their new owners on Saturday, signifying the conglomerate’s success in meeting its commitments. Lippo Cikarang, the group’s property developer arm, said in a statement that the apartment units are in the towers known as Irvine Suites and […]

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Retail Asia26/06/2018

Indonesian diversified conglomerate Lippo Group has invested Rp 628 billion ($45 million), or 350 million Hong Kong dollars, in Chinese internet giant Tencent, the world’s eighth most valuable listed company and owner of leading internet services including WeChat, Snapchat and Spotify, and technology companies such as Tesla. The investment highlights Lippo’s continued digital transformation and […]

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Retail Asia05/06/2018

Residents of Cilegon in Banten Province, Indonesia, responded enthusiastically to the opening of Matahari Department Store’s 155th outlet on Friday (01/06). In addition to being strategically located in the central business district, the 5,700-square-meter store inside the 67,000 square-meter Cilegon Center shopping mall also boasts a modern design. The first day of trading saw extraordinary […]

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Retail Asia23/05/2018

James Riady, the chief executive officer of Lippo Group, one of Indonesia’s largest property conglomerates, met with Itochu chairman and chief executive Masahiro Okafuji in Tokyo on Monday to discuss ways to boost the companies’ cooperation in the regional healthcare sector. Lippo and Itochu are strategic joint venture partners in Lippo’s Healthcare operations outside Indonesia, covering 106 […]

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Retail Asia23/05/2018

The Lippo Group, one of Indonesia’s largest conglomerates, has called for deeper ties between the Japanese and Indonesian business communities to help realize the Southeast Asian country’s high investment potential over the next decade. Japan has long been a major source for foreign direct investment in Indonesia, influencing a wide range of sectors, from mining and […]

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Retail Asia17/03/2017

Indonesia’s Salim Group is planning a major foray into e-commerce this year in partnership with South Korea’s Lotte. Indo Lotte Makmur, a 50-50 JV by the two conglomerates, will launch the iLotte online shopping platform as soon as July, putting US$88 million into the project initially. The service will be geared primarily toward women in […]

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Retail Asia16/02/2017

Lippo Malls Indonesia Retail Trust (LMIRT) posted a distribution per unit of 0.87 cents for its fourth quarter 2016, an increase of 7.4 per cent from a year ago. Its net property income went up 10.9 per cent to S$44.6 million. For the full year ended 2016, LMIRT’s net property income rose 8.4 per cent […]

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Retail Asia23/01/2017

Lippo Group is exploring investment possibilities in the eastern province of Nusa Tenggara, which borders Timor Leste, to generate development and improve living standards in the region. “Increased investments in the border region is very important as it can help to improve the welfare of the local population. We are now studying the regions investment […]

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Retail Asia29/12/2016

Lippo Malls Indonesia Retail Trust was listed over nine years ago on November 2007. It was the first real estate investment trust that focused on Indonesian retail malls in Singapore’s stock market. Today, LMIRT remains the only REIT in Singapore with that focus. The REIT currently has a portfolio of 19 retail malls and seven […]

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Retail Asia08/12/2016

Opened in 2013, Lippo Mall Kuta is a three-floor mall that offers 21,132 square meters to international and local tenants, such as Nike, Bata, Quicksilver, Planet Sports, Amazing Kuta, Matahari Department Store and Cinemaxx. Lippo Karawaci president director Ketut Budi Wijaya said the acquisition is part of “light assets program,” by which the property developer expects to increase its revenue […]

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Retail Asia11/11/2016

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Indonesia’s Lippo Group is turning e-commerce, electronic money and other information technology-related enterprises into a new pillar of its business, closely monitoring spending trends to gain a better foothold in the greater Southeast Asian market. The next phase for the banking and real estate conglomerate “will be the fourth industrial revolution,” CEO James Riady told […]

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Retail Asia05/04/2016

After launching its Matahari Mall online shop in October, Indonesia’s Lippo Group is expanding its eCommerce activity into wholesale services. It is set to launch Mbiz.co.id next month, targetting businesses and government institutions. It digitises the procurement process, which Lippo Digital Group CEO Adrian Suherman says translates into efficiency. To offer its customers more choice, […]

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Retail Asia05/04/2016

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Taxi and ride app service Grab has formed a strategic partnership with one of the Indonesia’s largest conglomerates to provide logistic services for online shopping. It has signed up with Lippo Group’s MatahariMall, launched last year at a cost of $500 million – the largest eCommerce investment in Indonesia. A competitor to Sequoia-backed Tokopedia, MatahariMall […]

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Retail Asia23/03/2016

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Lippo Group, the Indonesian conglomerate founded by billionaire tycoon Mochtar Riady, will partner with GrabTaxi Holdings Pte for e-commerce deliveries in Southeast Asia’s largest economy. The founder’s grandson, John Riady, is spearheading Lippo Group’s foray into e-commerce with a $500 million investment in MatahariMall, an online version of its Matahari department store chain. Grab, a […]

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Retail Asia10/02/2016

They are held under one “right to build” title certificate as the local government is not allowed to subdivide the property and issue separate strata title certificates. Siloam Hospitals Yogyakarta offers 240 hospital beds, while Lippo Plaza Yogya offers a 66,098-square-meter gross floor area (35,965 square meters for the mall area and 30,133 square meters for parking), which […]

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Retail Asia12/05/2015

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Lippo Group, one among Indonesia’s largest enterprise conglomerates, has appointed Rudy Ramawy, former nation director for Google Indonesia, as vice chairman of its e-commerce unit MatahariMall.com. Rudy served as director of Google Indonesia from January 2012 to March 2015, main the opening of Google’s operations within the nation, Lippo stated in a press release on […]

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