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LMIR Trust posts 5.1% rise in Q1 DPU

LIPPO Malls Indonesia Retail Trust (LMIR Trust) on Tuesday posted a 5.1 per cent increase in distribution per unit (DPU) in the first quarter, from a year ago. Its DPU stood at 0.83 Singapore cent, up from 0.79 Singapore cent in the same period in 2015. This came on the back of higher net property income, boosted by higher gross revenue.

The Indonesian economy is expected to grow by approximately 5.1 per cent in 2016. Investor confidence in Indonesia's economic fundamentals continues to be firm, noted LMIR Trust in a press statement on Tuesday.

"As the shopping centre moratorium continues, the near-term retail space supply in Jakarta will be limited. This will create a favourable market condition for existing shopping mall owners as retail space in Jakarta will be keenly sought-after in the next few years."