Lippo Malls Indo Q1 DPU rises 16.2% with boost from new asset
LIPPO Malls Indonesia Retail Trust's first-quarter distribution per unit rose 16.2 per cent to 0.79 Singapore cents as it enjoyed a full quarter of contribution from a Jakarta shopping centre.
Distributable income increased by 28.4 per cent to S$21.5 million during the quarter as net property income grew 25.6 per cent to S$39 million.
Total gross revenue was up 24.7 per cent to S$42 million, as the the real estate investment trust (Reit) received a full quarter of contribution from Lippo Mall Kemang, which was acquired at the end of 2014.
Occupancy of the trust's malls was 94.2 per cent.
The trust said that the outlook for quality retail spaces in Indonesia is promising in the next 12 months with both local and foreign players expected to remain active.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
BOJ will hike rates if trend inflation accelerates, says Ueda
Malaysia to build region’s largest chip design park in bid for top startup-hub status
British retailer JD Sports to buy US rival Hibbett for US$1.08 billion
Japan’s 7-Eleven convenience chain targets aggressive global growth
Renault Q1 sales rise 1.8%, helped by financing business
UBS lifts Chinese stocks to overweight in rare upgrade call