JAKARTA. PT Star Pacific Tbk (LPLI), a member of Lippo Group, will start a new business and lease office buildings, after experiencing successive losses in the last five years.
Lukman Djaja, President Director of LPLI, said that the plan will be discussed in the company's extraordinary general meeting of shareholders (EGMS), which will be held on 22 July 2020.
So far, there are two property assets that may be leased by LPLI. The first one is the Graha Lippo Building in Tangerang with a total land area of 5,757 square meters. The second one is the Cyber Park shop complex in Tangerang, with a total land area of 509 square meters.
LPLI has prepared strategies for its new business. Starting from working with property agents, renovations to increase rental prices, to using the Lippo Group business network to lease its property assets.
According to idnfinancials.com data, 77.06% of LPLI's shares are currently controlled by Lippo Group. 57.01% of them are controlled through PT Inti Anugerah Pratama and 20.05% are controlled through PT Lippo Securities Tbk (LPPS). Meanwhile the remaining 22.94% is owned by public investors. (KR/AR)