Lippo Land still books loss

Lippo Land still books loss

JAKARTA (JP): Listed property developer PT Lippo Land
Development said on Monday that it suffered a net loss of Rp 51.5
billion (about US$6.4 million) in 1999.

Lippo Land's net loss per share narrowed to Rp 104 from Rp
974.

The company attributed the loss to the high burden of
financial costs.

The company's total revenue dropped to Rp 601 million last
year from Rp 11.28 billion in 1999 as the property market slump
continued during the year.

The company's total assets fell to Rp 639.45 billion last year
from Rp 736.19 billion in 1998, while its net equity dropped to
25.67 billion from Rp 70.33 billion. (udi)