The Japan Times WORLD EYE REPORTS HONG KONG
©THE JAPAN TIMES	Wednesday, June 26, 2002

Mutual trust leads to lasting partnerships

In the concrete canyons of Hong Kong, it will be quite natural for a newcomer to have difficulty distinguishing between one skyscraper and the next. Even for local cab drivers, there are only a few buildings that are instantly recognized with no translation needed. Precisely one of those skyline-defining buildings bears the name of the Lippo Group. Having a recognized name globally has always been very important to the deputy chairman of the Lippo Group, Stephen Riady. "Twenty years ago," he says, "our business cards had to list all our companies on them because no one knew the full extent of our industry involvement. Our goal then was to become a well-known conglomerate like our partner Mitsubishi. Although involved in numerous activities, Mitsubishi was already a powerful name then and it was common knowledge what they did. We thought it would take us 50 years to achieve this, but we are now coming close."

Stephen Riady, deputy chairman of the Lippo Group

Founded in Indonesia over 30 years ago by his father, Dr. Mochtar Riady, the Lippo Group has earned the respect of many communities around the world where operates. Perhaps it is because these operations have always contained an underlying covenant of mutual trust - a core business philosophy which has been key to the company's success and has led to the forging of lasting partnerships and alliances.

The main business segments of the Lippo Group can be broken down into five parts: financial services, urban development and property, infrastructure development, industrial activities, and strategic investments and services (which includes information technology and retailing).

But despite the many hats, the deputy chairman has one main focus. "As a conglomerate with such diversity, there is one main strategy that spans all our business segments," Riady explains. "That is to be in the top five of every sector in which we are present. If we cannot be in the top five, then we would rather divest our interests and focus on our remaining strengths."

With the Asia-Pacific economy as the fastest growing on the planet, the group has positioned itself to be one of the region's most versatile financial bridges for trade and investment. Using its vast network and customer base - with over twelve million consumers in Indonesia alone - Lippo has become an ideal partner for companies looking to further their presence within Asia.

Using Hong Kong as its financial base, the group has been investing in China for over a decade through its subsidiary, Lippo China Resources.

Prime examples of Lippo's dedication to the emerging market are the Lippo Plaza in Shanghai - a high-end office and retail complex - and the Meizhou Wan Power Plant in Fujian province.

With its heightened focus on this market, the group has the network, resources and a well-earned reputation needed to unlock China's potential. "The market is just so huge," Riady exclaims, "we cannot do it alone."

TOP

Home  About Us  Careers  Contact Us  Reports  Advertisers  About Japan Times

© 2002 World Eye Reports