Lippo Limited
{{distinguish|Lippo Group}}
{{Infobox company
| name = Lippo Limited
| logo =File:Hkcb.png
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| type = public
| traded_as = {{SEHK|226}}
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| founded = {{start date and age|1973|1|30|df=yes}}
| founder =
| former_name = Public Finance (H.K.) Limited
| hq_location = 24/F, Tower 1, Lippo Centre
| hq_location_city = Hong Kong Island
| hq_location_country = Hong Kong
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| key_people = {{aligned table|Mochtar Riady|(Hon. Chairman)|Stephen Riady|(Chairman)|John Lee|(MD & CEO)}}
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| revenue = {{increase}} HK$3.857 billion
| revenue_year = 2015–16
| operating_income =
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| net_income = {{decrease}} {{fontcolor|red|(HK$187 million)}}
| net_income_year = 2015–16
| assets = {{decrease}} HK$17.457 billion
| assets_year = 2015–16
| equity = {{decrease}} HK$9.143 billion
| equity_year = 2015–16
| owner = {{aligned table|Riady family {{nowrap|(via Lippo Capital)}}|(69.75%)|general public|(30.25%)}}
| parent = Lippo Capital
| subsid = {{aligned table|Hongkong Chinese|(65.8%)|Lippo China Resources|(71.2%)}}
| rating =
| website = [http://www.lippoltd.com.hk/ lippoltd.com.hk]
| footnotes = in consolidated financial statement; financial year ended on 31 March{{cite web|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2016/0728/LTN20160728995.pdf|title=2015–16 Annual Report|date=28 July 2016|access-date=16 March 2017|work=Lippo Limited|publisher=Hong Kong Stock Exchange}}
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Lippo Limited ({{zh|t=力寶有限公司}}) is a Hong Kong incorporated listed company. It is the parent company of Hongkong Chinese Limited ({{SEHK|655}}), {{ill|Lippo China Resources|zh|力寶華潤|lt=Lippo China Resources Limited}} ({{SEHK|156}}) and Auric Pacific Group ({{SGX|A23}}), all listed companies. Founded by Indonesian Chinese Mochtar Riady, Lippo Limited was majority owned by Lippo Capital; in turn Lippo Capital was 60% owned by Mochtar's son Stephen Riady (via Lippo Capital Group), as well as his brother James Tjahaja Riady (via PT Trijaya Utama Mandiri).{{cite press release|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2017/1206/LTN201712061346.pdf|title=REORGANISATION OF THE CONTROLLING SHAREHOLDER OF THE GROUP |date=6 December 2017|access-date=12 December 2017|publisher=Lippo Limited|publication-place=Hong Kong|via=Hong Kong Exchanges and Clearing}}{{cite news|url=https://hk.finance.appledaily.com/finance/daily/article/20171207/20237321 |script-title=zh:「印尼錢王」李文正分身家|date=7 December 2017|access-date=12 December 2017|publisher=Next Digital|work=Apple Daily|publication-place=Hong Kong|language=zh-hk}}{{cite news|url=http://www2.hkej.com/instantnews/stock/article/1719406|script-title=zh:力寶系控股股東重組|date=6 December 2017|access-date=12 December 2017|department=Instant News|newspaper=Hong Kong Economic Journal|language=zh-hk}}
History
Public Finance (H.K.) Limited ({{zh|t=萬衆財務(香港)有限公司}}) was incorporated on 30 January 1973.Should not be confused Public Finance (H.K.) Limited with Public Finance Limited, known as JSG Finance until 2006, a subsidiary of {{ill|Public Financial Holdings|zh|大眾金融控股}} ({{sehk|00626}}), nor it was not related to People Credit Service Limited ({{zh|t=萬眾財務有限公司}}). On 30 July 1991, the company changed its name to Lippo Limited ({{SEHK|226}}).
In 1998 via subsidiary Lippo China Resources ({{SEHK|156}}), the group formed a joint venture Lippo CRE (Financial Services) Limited with China Resources Enterprise to act as the parent company of The HKCB Bank Holding Limited (now known as Hongkong Chinese Limited, {{SEHK|655}}), which in turn the parent company of Hongkong Chinese Bank for 60.6% shares. The price was about HK$1.2 billion.{{cite web|url=http://www.cre.com.hk/home_15152/infocenter/compantnews/1998/201511/t20151109_366928.html|title=CRE will become the controlling shareholder of HKCB with 60.6% stake|date=2 July 1998|access-date=16 March 2017|publisher=China Resources Enterprise|format=PDF}}
In 2001, Lippo China Resources re-acquired 50% shares of Lippo CRE (Financial Services) Limited (which owned 58.78% shares of HKCB Bank Holding), as well as an additional 5.84% shares of HKCB Bank Holding from China Resources Enterprise for about HK$1.8 billion, effectively buying 35.23% interests in HKCB Bank Holding.{{cite web|url=http://www.cre.com.hk/xw_zx_15038/gs_xw/2001/201511/P020151106441189406462.pdf|title=CRE disposed of its effective interest of 35.23% in HKCB Holding for HK$1.8 billion|date=1 November 2001|access-date=16 March 2017|publisher=China Resources Enterprise}} In the same year HKCB Bank Holding sold the entire share capital of Hongkong Chinese Bank to CITIC Ka Wah Bank for HK$4.2 billion.{{cite web|url=http://www.hkexnews.hk/listedco/listconews/SEHK/2002/0118/LTN20020118019.doc|title=Completion of Disposal of the entire issued share capital of The Hongkong Chinese Bank, Limited and its subsidiaries and Special Cash Dividend|date=18 January 2002|access-date=12 March 2017|work=Hongkong Chinese Limited|publisher=Hong Kong Stock Exchange|format=Microsoft Word}}
In December 2016, second-tier subsidiary Auric Pacific Group (a listed company majority owned by Lippo China Resources) was privatized by Lippo Limited's chairman Stephen Riady (son of Mochtar Riady) and his son-in-law Andy Adhiwana (via a SPV Silver Creek Capital) for S$1.65 per shares.{{cite web|url=http://auric.listedcompany.com/news.rev/id/567050|title=Voluntary Conditional Offer For Auric Pacific Group Limited – Dealings Disclosure|date=7 February 2017|access-date=16 March 2017|publisher=Auric Pacific Group}}{{cite news|url=http://www.businesstimes.com.sg/companies-markets/riady-family-moves-to-take-auric-pacific-private|title=Riady family moves to take Auric Pacific private|date=8 February 2017|access-date=19 November 2017|work=The Business Times|publisher=Singapore Press Holdings|author=Anita Gabriel}}
Subsidiaries
- Lippo China Resources (71.2%)
- Hongkong Chinese (65.8%)
;former
- Auric Pacific Group
- Délifrance Asia Ltd. (100%)
- Delifrance Singapore Pte. Ltd. (100%)
- Delifrance (HK) Ltd. (100%)
- Delifrance (Malaysia) Sdn. Bhd. (100%)
- Shanghai Delifrance Foodstuff Co., Ltd. (100%)
Footnotes
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References
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External links
- {{official website|http://www.lippoltd.com.hk}}