Lippo Limited () is a Hong Kong incorporated listed company. It is the parent company of
Hongkong Chinese Limited
Hongkong Chinese Limited is a Bermuda-incorporated Hong Kong listed company. It was the holding company of Hongkong Chinese Bank, which was sold in 2002. The listed company now engaged in real estate development in China and had properties in S ...
(), () and Auric Pacific Group (), all listed companies. Founded by Indonesian Chinese
Mochtar Riady
Mochtar Riady, born Lie Mo Tie (; born 12 May 1929) is an Indonesian financial magnate and the founder and chairman emeritus of Lippo Group. He was born in Malang to a Chinese Indonesian family. At five months old, his parents took him to his ...
, Lippo Limited was majority owned by Lippo Capital; in turn Lippo Capital was 60% owned by Mochtar's son Stephen Riady (via Lippo Capital Group), as well as his brother James Tjahaja Riady (via PT Trijaya Utama Mandiri).
History
Public Finance (H.K.) Limited () was incorporated on 30 January 1973.
[Should not be confused Public Finance (H.K.) Limited with Public Finance Limited, known as JSG Finance until 2006, a subsidiary of (), nor it was not related to People Credit Service Limited ().] On 30 July 1991, the company changed its name to Lippo Limited ().
In 1998 via subsidiary Lippo China Resources (), the group formed a joint venture Lippo CRE (Financial Services) Limited with
China Resources Enterprise
China Resources Beer is a subsidiary of China Resources Holdings. Its assets include a 51% share in CR Snow, the largest brewing company in China and a joint venture with SAB Miller.
Background
The company was previously part of China Resou ...
to act as the parent company of
The HKCB Bank Holding Limited (now known as Hongkong Chinese Limited, ), which in turn the parent company of
Hongkong Chinese Bank for 60.6% shares. The price was about HK$1.2 billion.
In 2001, Lippo China Resources re-acquired 50% shares of Lippo CRE (Financial Services) Limited (which owned 58.78% shares of HKCB Bank Holding), as well as an additional 5.84% shares of HKCB Bank Holding from China Resources Enterprise for about HK$1.8 billion, effectively buying 35.23% interests in HKCB Bank Holding. In the same year HKCB Bank Holding sold the entire share capital of Hongkong Chinese Bank to
CITIC Ka Wah Bank
China CITIC Bank International (; CNCBI in short) is a Hong Kong full-service commercial bank.
China CITIC Bank Corporation Limited, via its wholly-owned subsidiary CITIC International Financial Holdings Limited, is CNCBI's controlling share ...
for HK$4.2
billion
Billion is a word for a large number, and it has two distinct definitions:
* 1,000,000,000, i.e. one thousand million, or (ten to the ninth power), as defined on the short scale. This is now the most common sense of the word in all varieties of ...
.
In December 2016, second-tier subsidiary Auric Pacific Group (a listed company majority owned by Lippo China Resources) was privatized by Lippo Limited's chairman Stephen Riady (son of
Mochtar Riady
Mochtar Riady, born Lie Mo Tie (; born 12 May 1929) is an Indonesian financial magnate and the founder and chairman emeritus of Lippo Group. He was born in Malang to a Chinese Indonesian family. At five months old, his parents took him to his ...
) and his son-in-law Andy Adhiwana (via a
SPV Silver Creek Capital) for
S$1.65 per shares.
Subsidiaries
* Lippo China Resources (71.2%)
*
Hongkong Chinese (65.8%)
;former
* Auric Pacific Group
**
Délifrance Asia Ltd. (100%)
** Delifrance Singapore Pte. Ltd. (100%)
** Delifrance (HK) Ltd. (100%)
** Delifrance (Malaysia) Sdn. Bhd. (100%)
** Shanghai Delifrance Foodstuff Co., Ltd. (100%)
Footnotes
References
External links
* {{official website, http://www.lippoltd.com.hk
Companies listed on the Hong Kong Stock Exchange
Conglomerate companies of Hong Kong