Should investors beware the Lippo effect?
Add BT as a preferred sourceLOCALLY listed stocks with links to the Riady family have generated significantly negative returns in the last five years, compared to gains in the Straits Times Index (STI) and FTSE ST Reit Index.
The difficulties faced by some of these entities seem to have their roots in Indonesian developer Lippo Karawaci's (LK) liquidity problems, following trouble at its US$21 billion Meikarta township project in 2018.
LK's need to raise cash urgently led it to sell several assets, which have ended up within various Riady-linked entities.
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