Lippo Limited

Not to be confused with Lippo Group.

Lippo Limited (Chinese: 力寶有限公司) is a Hong Kong incorporated listed company. It is the parent company of Hongkong Chinese Limited (SEHK: 655), Lippo China Resources Limited [zh] (SEHK: 156) and Auric Pacific Group (SGX: A23 ), all listed companies. Founded by Indonesian Chinese Mochtar Riady, 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).^[2][3][4]

Lippo Limited

Formerly	Public Finance (H.K.) Limited
Company type	public
Traded as	SEHK: 226
Founded	30 January 1973; 52 years ago (1973-01-30)
Headquarters	24/F, Tower 1, Lippo Centre, Hong Kong Island , Hong Kong
Key people	Mochtar Riady (Hon. Chairman) Stephen Riady (Chairman) John Lee (MD & CEO)
Revenue	HK$3.857 billion (2015–16)
Net income	(HK$187 million) (2015–16)
Total assets	HK$17.457 billion (2015–16)
Total equity	HK$9.143 billion (2015–16)
Owner	Riady family (via Lippo Capital) (69.75%) general public (30.25%)
Parent	Lippo Capital
Subsidiaries	Hongkong Chinese (65.8%) Lippo China Resources (71.2%)
Website	lippoltd.com.hk
Footnotes / references in consolidated financial statement; financial year ended on 31 March[1]

History

Public Finance (H.K.) Limited (Chinese: 萬衆財務(香港)有限公司) was incorporated on 30 January 1973.^{[nb 1]} On 30 July 1991, the company changed its name to Lippo Limited (SEHK: 226).

In 1998 via subsidiary Lippo China Resources (SEHK: 156), the group formed a joint venture Lippo CRE (Financial Services) Limited with China Resources Enterprise to act as the parent company of The HKCB Bank Holding Limited (now known as Hongkong Chinese Limited, SEHK: 655), which in turn the parent company of Hongkong Chinese Bank for 60.6% shares. The price was about HK$1.2 billion.^[5]

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.^[6] In the same year HKCB Bank Holding sold the entire share capital of Hongkong Chinese Bank to CITIC Ka Wah Bank for HK$4.2 billion.^[7]

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) and his son-in-law Andy Adhiwana (via a SPV Silver Creek Capital) for S$1.65 per shares.^[8][9]

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

1. Should not be confused Public Finance (H.K.) Limited with Public Finance Limited, known as JSG Finance until 2006, a subsidiary of Public Financial Holdings [zh] (SEHK: 626), nor it was not related to People Credit Service Limited (Chinese: 萬眾財務有限公司).