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Web-only Exclusives
November 30, 2000

From Our Correspondent: Hirohito and the War
A conversation with biographer Herbert Bix

From Our Correspondent: A Rough Road Ahead
Bad news for the Philippines - and some others

From Our Correspondent: Making Enemies
Indonesia needs friends. So why is it picking fights?

Asiaweek Time Asia Now Asiaweek story

'WE HAVE NO PROBLEMS'


AFTER A HEART BY-PASS operation in 1990, Mochtar Riady gave up the day-to-day running of Lippo Group. As rumors about problems in subsidiary Lippo Land sweep Asia's business circles, though, Riady, 66, is taking a higher profile. He spoke with Correspondent Keith Loveard last week.

Is Lippo in trouble?

Everything is on schedule. We're driving very fast, but we never go alone. Hyundai is building two elite residential blocks [in the allegedly problematic Karawaci development]. Many of our competitors are very jealous. They're spreading rumors that our shopping mall is unfinished, that no one will shop there. It's just jealousy.

So Lippo Land is still strong?

If the projects were stuck, it would be in trouble. The projects are not stuck, so why should Lippo Land be a problem?

Lippo as a whole is not overextended?

All our partners are strong and internationally powerful. I don't think we have any problems.

Where do you see Lippo going in the next few years?

China at the moment is terrible, but in another ten years it will be incredible. Now we're starting to lobby, to get to know people, and then we'll start moving. In 1970 I went to Hong Kong but it wasn't until 1984 that we started there. I went to America in 1970 and it was 1980 before I started work there. People who comment on how quickly we move aren't aware that we spend such a long time in preparation.

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