 |
April 8, 2008 |
|
|
|
 |
LIPPO KARAWACI: Won't Pay FY-2007 Dividend PT Lippo Karawaci Tbk has decided not to pay fiscal year 2007 dividend amid posting of profits, Reuters reports. As reported by the Troubled Company Reporter-Asia Pacific on Oct. 23, 2007, Lippo Karawaci reported a net profit of IDR255.2 billion in the third quarter ended Sept. 30, 2007, a 12% increase from the profit booked in the same period in 2006. According to the report, the company will retain the profit for investment purposes. PT Lippo Karawaci Tbk -- http://www.lippokarawaci.co.id/ -- is one of the largest property developers in Indonesia with a market capitalization of over USD550 million. As of end-2005, it possessed a huge land bank reserve of 2,079 hectares. The Company also operates four hospitals and four hotels in Indonesia. The Troubled Company Reporter-Asia Pacific reported on April 1, 2008, Moody's Investors Service changed to stable from negative both the outlook for PT Lippo Karawaci Tbk's (LK) B1 corporate family rating, and also for the B1 senior unsecured bond rating of Lippo Karawaci Finance BV and guaranteed by LK. At the same time, PT Moody's Indonesia changed to stable from negative its outlook for the A2.id national scale rating of LK. Standard & Poor's Ratings Services said its ratings on PT Lippo Karawaci Tbk. (B+/Stable/--) was not affected by the company's decision to sell its entire interest in a property development project in Singapore. |
|
|
||
|
Today's Top Stories have been selected from the Troubled Company Reporter - Asia Pacific. To receive the Full TCR-AP please CLICK HERE.
