Digital Assets in Capital Markets

Advanced course on digital assets - assets created using a blockchain/DLT network - designed for finance professionals.

IBF-STS
8 CACS CPD Hours

15 November 2022 (Tuesday) | 9am-5pm

Lippo Malls Indonesia Retail Trust (LMIRT) reported Q4 distribution per unit (DPU) at S$0.04 ($0.03), down 92% from a year ago. Gross rental income fell 65% and revenues fell 61% during the same period to S$13.8mn ($10.4mn) and S$27.3mn ($20.5mn) respectively. With that, net property income (NPI) for Q4 fell 78% YoY to S$10.6mn ($8mn). On an annual basis for FY2020, DPU stood at S$0.34 ($), down 85% from 2019 while overall gross revenues and NPIs were at S$148.5mn ($112mn) and S$76.4mn ($57.4mn), down 46% and 57% respectively. LMIRT noted that the strategic acquisition of Lippo Mall Puri ensures a steady stream of income alongside successful fundraising initiatives. Portfolio occupancy was stable at 84.5% and higher than Cushman & Wakefield’s industry average of 77.1%. LMIRT said that since January 2021, its malls have started to operate longer hours and rental/service charge discounts have been reduced to 25% aiming to reduce discounts down further over the course of the year. LMIRT’s USD 7.25% 2024s were down 0.13 to 102.5.

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