PT Lippo E-Net asked to hold public expose<\/p>\n
JAKARTA (JP): Jakarta Stock Exchange (JSX) president Mas
\nAchmad Daniri said on Thursday that his office had told the
\nmanagement of publicly listed Internet firm PT Lippo E-Net to
\nsoon hold a public expose to provide the public with more
\ninformation on its recent move of changing its core business.<\/p>\n
\"The company has recently changed its core business. It would
\nbe good if the public had more information about this change of
\ncore business,\" he said.<\/p>\n
Shareholders of then insurance firm PT Asuransi Lippo Life
\napproved in late January the company's proposal to change its
\nname to PT Lippo E-Net and shift its focus to the Internet.<\/p>\n
They also approved the company's plan to invest up to Rp 2
\ntrillion (US$278 million) in its Internet business. But the
\ncompany did not say from where the funds would come.<\/p>\n
Daniri said PT Lippo E-Net should also explain its investment
\nplan during the public expose.<\/p>\n
\"The investment plan should also be the agenda of the public
\nexpose, because it is part of the new core business story,\" he
\nsaid.<\/p>\n
Before Lippo Life changed its core business, parent company
\nLippo Group confirmed that American International Group, Inc.
\n(AIG) would acquire 5 percent of Lippo Life and 70 percent of its
\nunit, PT Asuransi Jiwa Lippo Utama. Lippo Life was then to
\nreceive around $200 million from the U.S. company.<\/p>\n
Asuransi Jiwa Lippo Utama is the non-listed life insurance
\ncompany to which Lippo Life transferred its life insurance policy
\nportfolio following the shift of Lippo Life's core business to
\nthe Internet business.<\/p>\n
Share price of Lippo life, or now Lippo E-Net, closed
\nunchanged at Rp 625 on Thursday. (udi)<\/p>",
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