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 Sin ...

(), () and Auric Pacific Group (), all listed companies. Founded by Indonesian Chinese

Mochtar Riady Mochtar Riady, (; born 12 May 1929) also known as Lie Mon Tie, 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 h ...

, 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 In public relations and communication science, publics are groups of individual people, and the public (a.k.a. the general public) is the totality of such groupings. This is a different concept to the sociological concept of the ''Öffentlichkei ...

, 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 was renamed 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 Enterprise is the subsidiary and the listed company of China Resources Holdings. It is a conglomerate enterprise focusing on retailing, beverage, food processing and distribution, textiles and real estate in Hong Kong and Mainlan ...

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 The Hongkong Chinese Bank Limited (HKCB) (Traditional Chinese: 香港華人銀行有限公司) was a bank in Hong Kong. It was owned by HKCB Bank Holding Company Limited (), which in turn was majority owned by a joint venture company owned by ...

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 Limited (Chinese: 中信銀行(國際), CNCBI in short) is a full-service commercial bank in Hong Kong. China CITIC Bank Corporation Limited, via its wholly-owned subsidiary CITIC International Financial Holdings ...

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 its only current meaning in English. * 1,000,000,000,000, i.e ...

. 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 Stephen or Steven is a common English first name. It is particularly significant to Christians, as it belonged to Saint Stephen ( grc-gre, Στέφανος ), an early disciple and deacon who, according to the Book of Acts, was stoned to death; h ...

(son of

) and his son-in-law

Andy Adhiwana Andy may refer to: People *Andy (given name), including a list of people and fictional characters *Horace Andy (born 1951), Jamaican roots reggae songwriter and singer born Horace Hinds *Katja Andy (1907–2013), German-American pianist and piano ...

(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 Délifrance is a bakery company that produces "French style" bakery, savoury and snacking products in over 100 countries on five continents. It has been in operation since 1983. The sister company of Délifrance is '' Grands Moulins de Paris,'' ...

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