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From Wikipedia, the free encyclopedia
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 (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]
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| Formerly | Public Finance (H.K.) Limited | ||||||
|---|---|---|---|---|---|---|---|
| Company type | public | ||||||
| SEHK: 226 | |||||||
| Founded | 30 January 1973 | ||||||
| Headquarters | 24/F, Tower 1, Lippo Centre, Hong Kong Island , Hong Kong | ||||||
Key people |
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| Revenue |  HK$3.857 billion (2015–16) | ||||||
 (HK$187 million) (2015–16) | |||||||
| Total assets | HK$17.457 billion (2015–16) | ||||||
| Total equity | HK$9.143 billion (2015–16) | ||||||
| Owner |
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| Parent | Lippo Capital | ||||||
| Subsidiaries |
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| Website | lippoltd.com.hk | ||||||
| Footnotes / references in consolidated financial statement; financial year ended on 31 March[1] | |||||||
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 was renamed 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]
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