Property Developer Lippo Karawaci Announces Dividend and Profit Projection
Indonesia's largest listed property developer, PT Lippo Karawaci, will distribute IDR 270 billion (USD $27.8 million) in dividends to its shareholders (IDR 11,86 per share). This amount is equivalent to 25.5 percent of the company's net profit in 2012. The developer posted a 49.7 percent increase in net profit last year to IDR 1.06 trillion (USD $109.3 million). The company is convinced that it will increase its net profit to IDR 1.9 trillion (USD $195.9) in 2013.
This year, Lippo Karawaci will use USD $600 million for capital expenditure. About USD $200 million will be used for expansion of its hospital business segment, USD $150 for expansion of its shopping mall segment and the remainder for housing and apartment projects.
The year 2012 was a good one for Indonesian property developers. Robust economic growth and subsequent higher purchasing power, coupled with low interest rates, resulted in 12.5 percent growth (YoY) in Indonesia's property market. Jones Lang LaSalle, the global real estate services firm, published a positive forecast for Indonesia's property sector in 2013. Economic growth and the arrival of many foreign businesses will provide a boost for the sector. The office segment, in particular, is predicted to have good prospects compared to residences, shops and hotels according to the firm.
Click here to read Lippo Karawaci's company profile
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