SINGAPORE (Yosefardi) – Lippo Malls Indonesia Retail Trust (LMIR Trust) booked net property income of S$37.1 million and distributable income of S$19.1 million for third quarter of this year, up 12.2% and 20.7% year-on-year respectively.
The increases were mainly due to the contributions from the six new malls acquired in fourth quarter of last year and the positive rental reversions within the existing malls, despite the depreciation of rupiah in the past quarter.
Total outstanding debt as at the end of third quarter of this year was S$472.5 million while assets totaled S$1.51 billion.
LMIR Trust’s sponsor PT Lippo Karawaci Tbk (LPKR) has provided the Trust with a right of first refusal over its portfolio of 15 malls to be built across Indonesia in the next three years.