PT Lippo Karawaci Tbk
Lippo Karawaci is the Indonesian property arm of Chinese-Indonesian conglomerate Lippo Group. It is the country's largest property developer by assets and one of its largest shopping mall operators. Its flagship Lippo Village is a satellite city on the outskirts of Jakarta that includes residential properties, hotels and a golf course.
Theo L. Sambuaga, the company's chairman, is the president of Lippo Group and former minister of housing and labor. He is also the vice chairman of the former ruling Golkar Party. President Ketut Budi Wijaya has a background in finance and previously held executive positions in other Lippo Group companies such as Matahari Putra Prima and Multipolar.
While members of the founding family do not directly control seats on the board, they are involved in Lippo Karawaci's major strategic decisions. Lippo Group indirectly owns about 18% of the company's shares.
Lippo Karawaci is expanding its health care business, aiming to raise the number of hospitals it runs from 16 in 2013 to 40 by 2017. Its hospital unit, Siloam International Hospitals, went public in 2013.