Lippo Securities' profit surges to Rp 236 billion<\/p>\n
JAKARTA (JP): Publicly listed securities firm PT Lippo
\nSecurities announced yesterday that its consolidated operating
\nprofit surged 600 percent to Rp 236 billion (US$52.44 million) in
\nthe first nine months of this year.<\/p>\n
The company said in a statement yesterday that it expected to
\nbook a total net profit of Rp 140 billion in 1998.<\/p>\n
The company's income before tax for this year's January to
\nSeptember period increased by 522 percent to Rp 162 billion,
\nwhile its net profit increased by 122 percent to Rp 58 billion.<\/p>\n
Lippo Securities' president, Charles De Queljoe, said Lippo
\nSecurities' strong results through last September reflected the
\ncompany's strategic competitive position and its effective
\nconsulting and investment banking services.<\/p>\n
"The company views 1998 with cautious optimism as we believe
\nthat there will be a strong demand for corporate advisory
\nservices with an emphasis on restructuring, mergers and
\nacquisitions," he said.<\/p>\n
Lippo Securities is one Indonesia's leading and most
\ndiversified banking, life insurance and investment services
\ngroup.<\/p>\n
The company's total assets are in excess of Rp 14.6 trillion.<\/p>\n
Its customer base totals more than 1.9 million clients served
\nby the group's 7,216 employees through 462 offices in Indonesia.<\/p>\n
Lippo Securities has a 43.5 percent stake in Lippo Life, one
\nof the country's largest life insurance companies.<\/p>\n
It also has a controlling interest in Lippo Bank, one of
\nIndonesia's leading commercial banks.<\/p>\n
Lippo Securities shares are listed both on the Jakarta and
\nSurabaya stock exchanges. (aly)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/lippo-securities-profit-surges-to-rp-236-billion-1447893297",
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"sponsor": "Okusi Associates",
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