Lippo Karawaci (LPKR) Sells Subsidiaries to Its Own Group for Rp 34 Billion, This Is the Purpose

PT Lippo Karawaci Tbk (LPKR) has sold its ownership in several subsidiaries to affiliated companies within the group, namely PT Matahari Putra Prima Tbk (MPPA) and PT Multipolar Tbk (MLPL). In the prospectus on the Indonesia Stock Exchange (BEI) website, LPKR is selling its ownership in PT Sunshine Food International (SFI) and PT Prima Cipta Lestari (PCL). The transactions were conducted through two LPKR subsidiaries, PT Sunshine Prima Utama (SPU) and PT Mega Indah Gemilang (MIG). On 1 April 2026, the transfer of 5,549,999 SFI shares, equivalent to 99.99% of the placed and fully paid-up shares in SFI owned by SPU, was made to PT Fortuna Optima Distribusi (FOD). The SFI share transfer transaction was executed at a value of approximately Rp 32.1 billion, according to management in the prospectus. On the same date, 91,346 PCL shares, equivalent to 96.06% of the placed and fully paid-up shares in PCL owned by SPU, were transferred to FOD. Subsequently, the transfer of 3,750 PCL shares owned by MIG, equivalent to 3.94% of the placed and fully paid-up shares in PCL owned by MIG, was made to MSE. The PCL share transfer transaction was executed at a value of approximately Rp 1.9 billion. LPKR management stated that this transaction is an affiliated transaction due to the controlling relationship by the same party among the involved parties, namely under the control of PT Inti Anugerah Pratama, with the beneficial owner being James T. Riady. In relation to SPU and MIG as sellers, 99% of SPU shares are owned by MIG, where the controller of MIG is LPKR, a publicly listed company controlled by PT Inti Anugerah Pratama. The purpose of the transaction relates to LPKR’s efforts to refocus its business activities on its core business, namely in the real estate sector. Through the share transfer transaction, LPKR is expected to optimise resource management and increase focus on business development in sectors with growth prospects more aligned with its long-term strategy. This step is also expected to enhance operational effectiveness, improve business structure, and create sustainable added value for the company and its shareholders.