PT. Lippo Cikarang Tbk Q1 2019 This presentation has been prepared by PT Lippo Cikarang Tbk (“LPCK”)and is circulated for the purpose of general information only. It is not intended

PT. Lippo Cikarang Tbk Q1 2019Largest Integrated Township East of Jakarta

Disclaimer

This presentation has been prepared by PT Lippo Cikarang Tbk (“LPCK”) and is circulated for the purpose of general information only.It is not intended for any specific person or purpose and does not constitute are commendation regarding the securities of LPCK. Nowarranty (expressed or implied) is made to the accuracy or completeness of the information. All opinions and estimations includedin this report constitute our judgment as of this date and are subject to change without prior notice. LPCK disclaims anyresponsibility or liability whatsoever arising which maybe brought against or suffered by any person as a result of reliance upon thewhole or any part of the contents of this presentation and neither LPCK nor any of its affiliated companies and their respectiveemployees and agents accepts liability for any errors, omissions, negligent or otherwise, in this presentation and any inaccuracy herein or omission here from which might otherwise arise.

Forward-LookingStatementsThe information communicated in this presentation contains certain statements that are or maybe forwardlooking. These statementstypically contain words such as "will", "expects“ and "anticipates“ and words of similar import. By their nature, forwardlookingstatements involve a number of risks and uncertainties that could cause actual events or results to differ materially from thosedescribed in this presentation. Factors that could cause actual results to differ include, but are not limited to, economic, social andpolitical conditions inIndonesia; the state of the property industry in Indonesia; prevailing market conditions; increases in regulatoryburdens in Indonesia, including environmental regulations and compliance costs; fluctuations in foreign currency exchange rates;interest rate trends, cost of capital and capital availability; the anticipated demand and selling prices for LPCK’s developments andrelated capital expenditures and investments; the cost of construction; availability of real estate property; competition from othercompanies and venues; shifts in customer demands; changes in operation expenses, including employee wages, benefits andtraining, governmental and public policy changes; LPCK’s ability to be and remain competitive; LPCK’s financial condition, businessstrategy as well as the plans and objectivesof LPCK’s management for future operations; generation of future receivables; andenvironmental compliance and remediation. Should one or more of these uncertainties or risks, among others, materialize, actualresults may vary materially from those estimated, anticipated or projected. Specifically, but without limitation, capital costs couldincrease, projects could be delayed and anticipated improvements in production, Kapasitas or performance might not be fullyrealized. Although LPCK believes that the expectations of its management as reflected by such forward-looking statements arereasonable based on information currently available tous, no assurances can be given that such expectations will prove to have beencorrect. You should not unduly rely on such statements. In any event,these statements speak only as of the date here of, and LPCKundertakes no obligation to update or revise any of them, whether as a result of new information, future events or otherwise.

DISCLAIMER

TABLE OF CONTENTS

Corporate & Business Structure 1

Revenue & EBITDA Contribution 2

Income Statements 3

Map of Lippo Cikarang and Meikarta 4

Leadership Teams 5 - 6

Meikarta Projects 7 - 13

Waterfront 14 - 16

Other Lippo Cikarang Projects 17 - 19

Complete Public Facilities 20

Financial Performance 21 - 25

Appendices 26 - 35

1

Trivium Terrace Apartment Taman Simpruk Summer Bliss Le Freya Garden Homes Taman Simpruk Forest Green Cosmo Estate The Patio

Trivium Square The Hall at Trivium Magnetica Square

Delta Silicon 8 Delta Silicon Industrial Park Japanese SMEs Center

Town Management Water Treatment Plant Waste Water Treatment Plant

CBD Meikarta : (Presold 6 towers)(Irvine Suites, Westwood Suites, Pasadena Suites, Burbank Suites, Glendale Park, Newport Park)

CBD Meikarta : Lippo Mall (210,000 sqm)

Bekasi Barat

Bekasi Barat Martadinata Kalimalang Jababeka

Lippo Cikarang CBD Meikarta East Jakarta Corridor

Re

sid

en

tial

Co

mm

erc

ial

Ind

ust

rial

Serv

ice

As of 31 March 2019No. of outstanding share : 696,000,000Code : LPCK.IJ

CORPORATE AND BUSINESS STRUCTURE

11,68%

CREDIT SUISSE AGSG

TRACCL PT METROPOLIS

PROPERTINDO UTAMA

33,95%

MASYARAKAT/

PUBLICDibawah/BELOW

5%

12,17%

ENTITAS ANAK | SUBSIDIARIES

PT LIPPO KARAWACI Tbk

LAINNYA | OTHERS

42,20%

PT KEMUNING

SATIATAMA

PT LIPPOKARAWACI TBK

EBITDA Q1 2019: RP 127 Billion

2

REVENUE Q1 2019: RP 399 Billion

REVENUE AND EBITDA CONTRIBUTION

Residential76%

Commercial0%

Industrial0%

Services24%

Residential67%

Commercial0%

Industrial0%

Services33%

3

REVENUE Q1’19: RP 399 BILLION

REVENUE Q1’18: RP 320 BILLION

EBITDA Q1’19: RP 127 BILLION

EBITDA Q1’18: RP 95 BILLION

NPAT Q1’19: RP 151 BILLION

NPAT Q1’18: RP 81 BILLION

INCOME STATEMENTS

303,974

- -

95,384

231,968

-10,425

77,241

Residential Commercial Industrial Services

Q1 2019 Q1 2018

Revenue(Rp Billion)

85,791

- -

41,570

65,970

-6,220

22,689

Residential Commercial Industrial Services

Q1 2019 Q1 2018

EBITDA(Rp Billion)

BIIE(Hyundai)

EJIP(Sumitomo)

Existing Industrial

Existing Industrial

Existing Residential

IndustrialLandbank

CBD Meikarta

4

MAP LIPPO CIKARANG

Houses > 17,192

Condominium > 2,839

Shophouses > 1,216

Industrial > 1,278

Development

RightsAquired Land Inventory

Land Bank 3,250 ha 2,805 ha 434 ha

Population > 54,500

Workers > 535,900

Residential

Global Client

Toyota Tsusho, Hankook,

Danone, Epson, Haier, KIA

Mitsubishi Corp, Sanko Soflan

5

BOARD OF COMMISIONERS

Hadi Cahyadi

Independent

Commissioner

Drs. Theo L. Sambuaga

President Commissioner

Ali Said

Independent

Commissioner

Sugiono Djauhari

Commissioner

Didik J. Rachbini

Independent

Commissioner

6

BOARD OF DIRECTORS

Sie Subiyanto

President Director

Ju Kian Salim

Director

Lora Oktaviani

Director

Hong Kah Jin

Director

Alexander Yasa

Director

Sony

Independent Director

+ 6 new infrastructures + Direct Toll Access

JAKARTA

BANDUNG

7

SURROUNDED BY FORTUNE 500 COMPANIES

4.000 MULTINATIONAL COMPANIES

1 MILLION CAR PRODUCTION / YEAR

10 MILLION MOTORCYCLES PRODUCTION / YEAR

17.000 EXPATRIATES

Corridor of extraordinary economic growth.

Surrounded by 6 Industrial Estates

+ 6 new infrastructures + Direct Toll Access

8

6 New Infrastructures6 New Infrastructures6 NEW INFRASTRUCTURES

KERTAJATI INTERNATIONALAIRPORT

EST. COST: Rp 25.4 T

OPENED : MAY 2018

LRT CAWANG –BEKASI TIMUR

EST. VALUE : Rp 3,2 T

EST. COMPLETION : End of 2020

PATIMBAN DEEP SEAPORT

EST. VALUE : Rp 40T

EST. COMPLETION : 2020 (PARTIAL)

APM (MONORAIL) CONNECTING

7 INDUSTRIAL ESTATE

EST. VALUE : Rp 21 T

EST. COMPLETION : 2022

FAST SPEED TRAIN JAKARTA – BANDUNG

EST. VALUE : Rp 65T

EST. COMPLETION : 2021 (PARTIAL)

ELEVATED TOLL JAKARTA – CIKAMPEK

EST. VALUE : Rp 16 T

EST. COMPLETION : End of 2019

9

Current Progress LRT

LRT and Elevated Cikampek Toll Road

Artist Impression Future Integrated Transportation

FUTURE TRANSPORTATION

KERTAJATI INTERNATIONAL AIRPORT

Consists of ~84 ha

Significant funds already invested into key foundation infrastructure for “Phase 1 +”

Consists of ~28 ha

62 towers, of which, 28 towers are in construction

Phase 1

Phase 1A

• A systematic and pragmatic approach to the development of Meikarta with current focus on Phase 1A

Meikarta: our next development initiativeInvestment in PT Lippo Cikarang Tbk (“LPCK”) / Meikarta

~500ha of total landbank for long term development over phases

10

Marketing Sales Q1 2019

Amount (Rp billion) 69.9

Total Units 148

Sqm 8,246

Cash 17%

Mortgage 30%

Installment 53%

200

150

57

218

180

400

230

175

Further financingby LPCK into

Meikarta

Other equity orproject financing

to be raised

Accountreceivables(sold units)

Estimated valueof future sales

Malls and otherincome yielding

assets

Estimatedconstruction

costs tocompletion

Existing debtand payables

Surplus funds forother projects

and investments

(in US$m)

14

Meikarta: our next development initiative (cont’d)

Sources Uses

Source: Company information.

Note: Assume exchange rate of US$1 to IDR 14,500; all figures subject to FX movements.

(1) As at 31 Dec 2018.

LPCK will launch a concurrent rights issue to raise the funds required for the completion of its Meikarta project

LPKR will act as standby purchaser to the US$200m rights issuance of LPCK

The rights issue is subject to shareholder approval at AGMS scheduled on 18 Apr 2019 and regulatory approval. Rights issuance is anticipated to be completed by 1H 2019

Further details of the rights issuance to be announced

(1)

• Fully funded business plan to complete current development projects in Meikarta Phase 1A

Investment in LPCK / Meikarta

11

Central Park of 100 HaLatest Real Construction Progress

12

MeikartaLatest Real Construction Progress

13

14

American Style

WATERFRONT

1522

American Style

WATERFRONT

16

American Style

WATERFRONT

17

North Tower(368 unit)

South Tower(422 unit) The Suites

(362 unit)

Launched : 24 Nov 2012

SGA Sold : 20,142 sqm

ASP : Rp 12,1 Mil / sqm

Pre – Sold : Rp 245 bil (100%)

Payment : Cash 19%

Profile Mortgage 23%

Instalment 58%

Launched : 1 Jun 2013




Payment : Cash 21%


Instalment 58%

Launched : 22 Feb 2014




Payment : Cash 28%


Instalment 48%

TRIVIUM

North Tower

South Tower

The Suites

18

Irvine Suites(434 units)

Westwood Suites(429 units)

Pasadena Suites(408 units)

Burbank Suites(532 units)

Glendale Park(505 units)

Newport Park(559 units)

CBD Meikarta





Payment : Cash 5%

Profile Mortgage 3%

Instalment 92%





Payment : Cash 10%

Profile Mortgage 2%

Instalment 88%

Launched : 7 Mar 2015




Payment : Cash 17%

Profile Mortgage 6%

Instalment 77%

Launched : 29 Jun 2015




Payment : Instalment 80%

Profile : Downpayment 20%

Launched : 5 Dec 2015


ASP : Rp 16 Mil / sqm


Payment : Cash 9%

Profile Mortgage 4%

Instalment 87%



ASP : Rp 18 Mil / sqm


Payment : Cash 11%

Profile Mortgage 6%

Instalment 83%

NEWPORT PARK

GLENDALE PARK

BURBANK SUITES

IRVINE SUITES

WESTWOOD SUITES

PASADENA SUITES

19

LATEST CONSTRUCTION PROGRESS CBD MEIKARTA

WATER BOOMLeisure & Excitement

INTERNATIONAL SCHOOLSekolah Pelita Harapan

INTERNATIONAL HOSPITALSiloam Hospital

SHOPPING MALLMall Lippo Cikarang

LIFESTYLE MALLLippo Cikarang Citywalk

COMMERCIAL CENTEREaston Commercial Center

5 STARS HOTEL 4 STARS HotelHotel Sahid Jaya & Grand Zuri Hotel

DRIVING RANGELeisure & Excitement

SERVICED APARTMENTSAXIA

20

SPORT VILLAGE TOLL EXIT Cibatu KM 34.7

Pasar CentralLippo Cikarang

COMPLETE PUBLIC FACILITIES

Financial Performance

21

22

REVENUE(IDR Billion)

EBITDA(IDR Billion)

Net Profit(IDR Billion)

FINANCIAL HIGHLIGHTS

1,803

2,120

1,545 1,501

2,210

399

2014 2015 2016 2017 2018 1Q19

932

1,014

606

426

1,066

127

2014 2015 2016 2017 2018 1Q19

846

915

540

367

165

2014 2015 2016 2017 2018 1Q19

2.221

23

BALANCE SHEET

IDR Billion Dec 2015 Dec 2016 Dec 2017 Dec 2018 Mar 2019

Assets 5,477 5,653 12,456 8,590 8,703

Debt 30 - 249 - 200

Liability 1,813 1,410 4,734 1,696 1,670

Equity 3,633 4,243 7,721 6,894 7,034

Return on Assets 16.7% 9.5% 3.0% 25.9% 7.6%

Return on Equity 25.2% 12.7% 4.8% 32.2% 9.4%

Net Gearing Ratio 0.01 - 0.03 - 0.03

Liability to Asset Ratio 0.33 0.25 0.38 0.20 0.19

24

PROPERTY MARKETING SALES

Marketing Sales (IDR Billion) 2016 2017 2018 Q1 2018 Q1 2019 B 2019

Lippo Cikarang

Residential 363 54 943 43 34 477

Commercial - 54 2 - 3 43

Industrial 6 8 81 6 41 105

Total Lippo Cikarang 369 116 1,026 48 79 625

Orange County Residential 311 123 15 9 - 75

DS8 KSO 69 71 - - 309 300

Total Sales 749 310 1,041 58 388 1,000

25

LPCK trading performance

1.5

1.0 0.8

0.6 0.6 0.5

0.2

-

0.2

0.4

0.6

0.8

1.0

1.2

1.4

1.6

1.8

DMAS KIJA SSIA BKSL BEST MDLN LPCK

Price to BV as at 3 May 2019

LPCK is trading at a significant discount to its peersSource : Bloomberg as at 3 May 2019; Peers average determined based on the simple average P/BV ratio of DMAS, KIJA, SSIA, BKSL, BEST and MDLN

Peers average 0,8x

Appendices

26

27

Economic Indicators

INDONESIA’S ATTRACTIVE GROWING MARKET

Indonesia : TOP 3 destinations for investors (The Economist survey 2017)Indonesia ranks fourth as the most prospective country for

invesment for 2017-2019 (UNCTAD business survey)

2017 20182019

State Budget

Economic Growth (%) 5.07 5.17 5.3

Inflation Rate (%) 3.61 3.13 3.5

Exchange Rate (Rp/USD) 13,384 14,427 14.400

3 Month SBI (%) 4.98 4.95 5.3

Oil Price (USD/bbl) 51,2 67,5 70

Oil Lifting (k bbl/day) 803.9 776 750

Source : Bank of Indonesia, Ministry of Finance

28

Rapid urbanisation

Growing middle–class

Strong savings and income growth

Low mortgage penetration

Property as investment

Improving regulatory environment

Banking innovation

Low property prices in the region

Highest yields in the region

ASIA PACIFIC PROPERTY

Source: Global Property Guide

2.54%

2.75%

4.53%

5.13%

6.13%

8.61%

S I N G A P O R E

H O N G K O N G

M A L A Y S I A

T H A I L A N D

P H I L L I P I N ES

I N D O N ES I A

RENTAL YIELD

1,827

2,889

3,952

3,952

13,748

25,551

M A L A Y S I A

I N D O N E S I A

P H I L L I P I N E S

T H A I L A N D

S I N G A P O R E

H O N G K O N G

PROPERTY PRICE (USD/SQM)

19.23

25.99

60.41

68.83

85.93

138.04

M A L A Y S I A

S I N G A P O R E

H O N G K O N G

T H A I L A N D

I N D O N ES I A

P HI L L I P I N ES

PRICE PER SQM/ GDP PER CAPITA

INDONESIAN PROPERTY POTENTIAL GROWTH

29

OPTIONS FOR FOREIGN OWNERSHIP :

LAND TITLES AVAILABLE :

1. Freehold : may be held by Indonesian citizens only (not even by fully

Indonesian-owned companies).

2. Right to Build (renewable leasehold) : may be held by Indonesian citizens and any company

established in Indonesia for an initial 30 years.

3. Right to Use (renewable leasehold) : may be held by Indonesian citizens, any company and foreigner

residence in Indonesia for an initial 30 years, extendable for

another 20 years and renewable for another 30 years

1. Foreign residence in Indonesia can purchase property in own name under Right to Use title under Government Regulation no

103/2015 dated on 22 December 2015 and further reinforced by The Ministry of Agricultural and Spatial Planning /National

Land Agency Regulation no 29/2016 dated on 19 Sept 2016 for certain minimum property value, which in Jakarta Province, a

minimum Rp 10 bn for landed house and Rp 3 bn for condominium and subsequently much lower value for other areas.

2. Establish a company with approval for full or part foreign ownership (PMA company) to own the property.

3. Through Indonesian nominees, establish a locally owned company.

4. Use an Indonesian professional third party corporate nominee.

5. Private unregistered lease.

6. Establish a person to person arrangement with an Indonesian private individual who will personally own the property.

INDONESIAN PROPERTY FOREIGN OWNERSHIP

30

Source : Jones Lang LaSalle Research

JAKARTA CONDOMINIUM MARKET

31

JAKARTA INDUSTRIAL MARKET

32

2015• Signing of JV agreement with

Mitsubishi for two residential towers.

• Sold out Pasadena, Burbank and Glendale Park tower in OC.

• Completed handover of TriviumApartments, North Tower.

2011-2013• Start construction of Km 34.7 toll

exit and access road.• Hiked land value for industrial

estates.• Launch of Trivium Terrace

Apartments.• Grand opening of Japanese SMEs

Center.

1999-2003• Setting up the Master Plan for the

development of high quality homes and green Lippo Cikarang.

• The construction of industrial estates, Delta Silicon 2.

• The construction of VassaResidence.

2014• Opening of Cibatu toll gate Km 34.7.• Topping off Trivium Terrace

Apartment, North Tower.• Sold out Irvine Suites, and

Wetwood at CBD Meikarta.

2004-2012• Construction of Vassa Lake

Residence at CBD Lippo Cikarang.• Construction of industrial estate

Delta Silicon 3 and 5.• Construction of Lippo Cikarang

City Walk.

1987-1997The forerunner, PT Desa Dekalbestablished in 1987, and was transformed into PT Lippo Cikarang in 1995 located in Bekasi, West Java. Listed on stock exchange in 1997.

2017• Launch Meikarta, a beautiful

megacity that wll covers 22 million sqm in GFA at the exit tol Cibatu, Km 34,7, complete with infrastructure and facilities so it will be self contained city for people to live, work and play

• Topping off Irvine and Westwood at CBD Meikarta

2016• Signing MOU Lippo Group and Shenzhen

bangun Indonesia Shenzhen Industrial Park business delegation.

• Signing MOU with TOTAL for CBD Meikarta’s first phase development.

• Appointed Kajima Indonesia to work on piling structure and design development for two apartments in collaboration with Mitsubishi at CBD Meikarta

• Appointed Kengo Kuma, a Japanese architect firm as design advisor for CBD Meikarta Masterplan Phase 1

• Presold Newport Park 87%

KEY MILESTONES

2018• Handover all units sold at

Irvine and Westwood at CBD Meikarta

2019• Handover all units sold at

Pasadena at CBD Meikarta

33

LATEST AWARDS

Lippo Cikarang received

Indonesia Green Award 2018

in the category of pioneer in

pollution prevention

(from La Tofi School of CSR)


Indonesia Property Award 2018

in the category of the prospective

housing in Cikarang for

The Patio project

(from Properti Indonesia magazine)



in the category of saving

water resources




in the category of

development of biodiversity



Indonesia Best Public Company 2018

in the category Property, Real Estate

and Building Construction

(from Warta Ekonomi magazine)


Certificate of

Appreciation from

Bekasi regency for CSR

in Education and

Healthcare


Nusantara CSR Award 2018 in

the category of community

economic empowerment(

from La Tofi School of CSR)



the category of improving

health quality

( from La Tofi School of CSR)



the category of improving the

quality of education




the category of regional

infrastructure development


34

SHAREHOLDER COMPOSITION (as per 31 Mar 2019)

StatusNumber of

Shares%

Local Shareholder

Individual 115.696.014 16,62%

Foundation 12.500 0,00%

Pension Fund 776.200 0,11%

Insurance 1.717.900 0,25%

Company 475.582.797 68,33%

Others 1.323.500 0,19%

Sub Total 595.108.911 85,50%

Foreign Shareholder

Individual 14.124.900 2,03%

Company 86.766.189 12,47%

Others - 0,00%

Sub Total 100.891.089 14,50%

Total 696.000.000 100,0%

35

Hong Kah Jin – Director Lippo CikarangEmail : [email protected]

William Wijaya Utama - Senior Manager Lippo KarawaciEmail : [email protected]

Address:Easton Commercial CenterJl. Gunung Panderman Kav.05Lippo CikarangBekasi 17550T. 021 - 8972484, 8972488F. 021 – 8972093, 8972493www.lippo-cikarang.com

INVESTOR RELATIONS

mailto:[email protected]

mailto:[email protected]

PT. Lippo Cikarang Tbk Q1 2019 This presentation has been prepared by PT Lippo Cikarang Tbk (“LPCK”)and is circulated for the purpose of general information only. It is not intended

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