Wednesday, November 21, 2007
PT Bank Lippo Tbk’s (“LB”) journey started as NV Bank Perniagaan Indonesia (Indonesian Mercantile Bank) in March 1948, and successively changed its name to PT Bank Perniagaan Indonesia and PT Lippo Bank in 1956 and 1989 respectively. After a successful merger with PT Bank Umum Asia, LB went public and was listed on the Jakarta Stock Exchange and Surabaya Stock Exchange in November 1989. On 23 December 1998, the Bank’s name was changed again from PT Lippo Bank to PT Bank Lippo Tbk, or known as LippoBank.
The Government of Indonesia acquired a majority shareholding in LB after the recapitalisation programme was executed on 28 May 1999.
On 25 February 2004 the 52.05% government’s share in LB was acquired by the Swissasia Global Consortium.
On 30 September 2005, having obtained approval from Bank Indonesia, Khazanah Nasional Berhad completed its 52.05% share acquisition of LB (through its wholly-owned subsidiary, Santubong Investments B.V.) from Swissasia Global. This was followed by a Tender Offer, which increased Santubong’s stake to 87.52% of the total paid up capital of the Bank. Since then, LB has moved quickly to design and implement a new road-map. The road-map provides LB with the tools to meet the rigours of a world-class bank, with uncompromising corporate governance policies and practices which built and sustain value created for all stakeholders. Combined with flawless execution, LB is on the required trajectory to achieve anchor bank status by 2010, in accordance with the Indonesian Banking Architecture framework.
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Posted by Taufik at Wednesday, November 21, 2007
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Very Sad. Just arrived in Bali and used my credit card at the Lippo ATM in the arrival hall at the international airport in Denapasar. The ATM allowed withdrawal only 4 time 2 million Rupiahs, when tried the 5th time for 2 million the ATM mashine did not give any money but said to contact my own bank. Just checked my BarclayRing Master card account and the LIPPO ATM has actually charged my card not for the 4 actual withdrawals but for FIVE!!! I LOST 2 MILLION RUPIAHS WHICH IS 141 US$....AS A TOURIST I NO LONGER TRUST ANY LIPPO BANK ATM. This has never happened before since Indonesian ATMs are secure and usually fraud proof...well in my 30 years coming to Indonesia this was the first...if anyone from LIPPO bank care to contact me about this major mess up at their Denpasar international airport arrival hall ATM loss please contact me at email@example.com. However, I want to warn other tourists through Trip Advisor to watch out for such unscrupulous practices, but I will hold off in case anyone at LIPPO looks into this.
Professor Dr. Molnar
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