The Lippo Group’s flagship property arm, PT Lippo Karawaci Tbk (LPKR), has announced a strategic divestment of its ownership in two food service subsidiaries. The entities, PT Sunshine Food International (SFI) and PT Prima Cipta Lestari (PCL), were transferred to other group members, specifically PT Matahari Putra Prima Tbk (MPPA) and PT Multipolar Tbk (MLPL).
As of April 1, 2026, through its subsidiary Sunshine Prima Utama (SPU), LPKR finalized the sale of SFI and PCL for a total transaction value of approximately Rp 34 billion. In this deal, SPU transferred 5,549,999 shares, representing a 99.99% stake in SFI, to PT Fortuna Optima Distribusi. Meanwhile, PT Mega Indah Gemilang (MIG) offloaded its 0.01% stake (one share) in SFI to PT Matahari Super Ekonomi. This shift effectively transfers full ownership of SFI for a total of Rp 32.1 billion.
Simultaneously, LPKR restructured the ownership of PT Prima Cipta Lestari (PCL). Sunshine Prima Utama sold 91,346 shares (96.06%) to PT Fortuna Optima Distribusi, while PT Mega Indah Gemilang transferred 3,750 shares (3.94%) to PT Matahari Super Ekonomi. The transaction for PCL was valued at Rp 1.9 billion.
Ratih Safitri, the Corporate Secretary of Lippo Karawaci, clarified that both SFI and PCL operate within the food service industry. She emphasized that these entities are categorized as non-core businesses because they lack a direct connection to the company’s primary focus on real estate and property management.
“By divesting non-core entities, the company can reduce operational complexity and minimize the management resources needed for business lines with differing characteristics,” Safitri stated in a disclosure to the Indonesia Stock Exchange (BEI), as reported on Wednesday (29/4).
The sale of SFI and PCL to PT Matahari Putra Prima Tbk (MPPA) is part of a broader strategy to rebalance LPKR’s portfolio. According to Safitri, this move aligns the business structure to focus heavily on the real estate sector as the primary growth engine. Through this streamlined approach, LPKR aims for more optimal and sustainable business growth while effectively allocating management and financial resources.
Proceeds from the sale will be utilized for general corporate purposes, including supporting operational activities and funding working capital needs. Following the transaction, food services will no longer be part of LPKR’s portfolio, allowing the company to concentrate on real estate development without losing the inherent synergies within the Lippo Group.
Looking ahead, LPKR’s development strategy for its real estate segment includes the creation of integrated townships and mixed-use projects. The company also intends to optimize its existing landbank and increase recurring income from its commercial assets. Post-transaction, the focus will remain on asset utilization and integrated regional management. LPKR will continue to selectively evaluate its portfolio, remaining open to divesting non-strategic assets or acquiring new ones that offer significant value, particularly those that strengthen synergies with the healthcare and leisure sectors.
Plan to Acquire Lippo Plaza Baubau and Hotel Aryaduta Manado
In a separate move to bolster its core holdings, PT Lippo Karawaci Tbk is currently exploring the acquisition of several major property assets. One such plan involves the purchase of Lippo Plaza Baubau from PT Buton Bangun Cipta for approximately Rp 157.4 billion.
Safitri explained that this acquisition is a key component of the company’s cost-efficiency strategy. By owning the asset directly, LPKR will eliminate recurring rental fee obligations. This also serves to consolidate retail assets already operating within the Lippo ecosystem directly into the company’s portfolio.
Furthermore, LPKR plans to acquire Hotel Aryaduta Manado from PT Menara Abadi Megah for an estimated Rp 543.4 billion. This move is designed to strengthen the company’s hospitality segment through direct ownership of operational assets. Similar to the Baubau acquisition, this step aims to remove recurring rental expenses and improve operational efficiency.
The company believes these acquisitions will provide long-term value and greater flexibility in optimizing asset performance. Funding for these purchases will be sourced from internal cash reserves. Safitri assured stakeholders that the use of internal funds has been carefully calculated, taking into account liquidity, operational cash flow, and LPKR’s ongoing development needs.
Summary
PT Lippo Karawaci Tbk (LPKR) has completed the strategic divestment of its food service subsidiaries, PT Sunshine Food International and PT Prima Cipta Lestari, for a combined total of Rp 34 billion. This sale to affiliates within the Lippo Group is intended to streamline operations by offloading non-core assets, allowing the company to concentrate resources on its primary real estate and property management business. The proceeds from this transaction will be utilized to support general corporate activities and working capital requirements.
To further strengthen its core portfolio, LPKR is planning the acquisition of Lippo Plaza Baubau and Hotel Aryaduta Manado for a total investment of approximately Rp 700.8 billion. These acquisitions aim to eliminate recurring rental expenses and consolidate key retail and hospitality assets directly under the company’s control. Funded through internal cash reserves, these strategic moves are designed to improve long-term operational efficiency and support the company’s focus on integrated townships and mixed-use development projects.
