Lippo to invest US$5b in retail and healthcare
Focus of expansion in 3-5 years are Vietnam, Philippines, Myanmar: Riady
[SINGAPORE] Indonesian conglomerate Lippo Group is looking to invest up to US$5 billion in healthcare, food retailing and telecoms mainly in the Philippines, Vietnam and Myanmar over the next three to five years, its top executive said.
"Partly, it's diversification, but partly also new growth markets," James Riady, chief executive of one of the biggest conglomerates in the country, told Reuters in an interview on Monday.
"In Asean, outside of Indonesia, we could be investing US$3-5 billion over the next three-five years. Healthcare is a big part of it and retailing, primarily food retailing," Mr Riady said on the sidelines of a regional conference in Singapore. He identified Vietnam, the…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Condo resale volumes rebound in March; prices inch up 0.4%: SRX, 99.co
S$16.5 million deal at The Ritz-Carlton Residences tops Q1 gainers; seller reaps S$4.9 million profit
Lucrum Capital looks to sell Killiney hotel site for S$195 million
US 30-year mortgage rate rises to five-month high of 7.24%
Money laundering accused Su Baolin’s Sentosa property goes unsold at auction
US Judge approves US$418 million settlement that will change real estate commissions