LMIRT extends Indonesia retail closures to June 4, reopens Kendari mall

LIPPO Malls Indonesia Retail Trust (LMIRT) will be extending the temporary closure of affected malls and retail spaces in Indonesia until June 4, the manager said on Friday.

This comes as Jakarta extends its large-scale social curbs until the same date, despite government plans to ease curbs and allow businesses to reopen.

Concurrently, the trust has resumed business operations for Lippo Plaza Kendari - a four-storey family mall located in Kendari, the capital of South-east Sulawesi.

Plans to progressively resume operations in other malls and retail spaces from May 22 to June 5 are being put in place.

Further delays may happen as the exact reopening dates of the various malls and retail spaces are subject to the lifting of the large-scale social curbs by the Indonesian government, as well as the situation with the spread of Covid-19 in respective provinces.

The manager added that health and safety of the trust's employees, tenants, shoppers and contractors remain the key priority. Measures such as temperature checks, mandatory use of face masks and providing hand sanitisers within premises are being implemented within the malls and retail spaces.

The trust will not collect rent from its tenants that are not operating during this closure period, the manager said.

It added that it is currently difficult to ascertain the full financial impact of the novel coronavirus crisis, but the trust remains in compliance with its financial covenants and has adequate financial reserves to meet its obligations in the foreseeable future.

LMIRT units closed flat at S$0.13 on Thursday.