LMIRT Q1 DPU down 78.2% on cash conservation
Singapore
LIPPO Malls Indonesia Retail Trust (LMIRT) posted a 78.2 per cent drop in its distribution per unit (DPU) to 0.12 Singapore cent for the first quarter ended March 31. The DPU represents 24.1 per cent of the amount available for distribution of S$14.6 million.
The decision to withhold the remaining income is a "prudent contingency" against the impact of Covid-19, LMIRT said, given the loss of rental income with the closure of all its retail malls and spaces in Indonesia.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Global car giants seek tech allies in China’s cutthroat EV market
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
‘Limits’ to MOH intervention for Cordlife customer refunds, compensation: Janil
Samsung to buy French medical AI firm Sonio
UG Healthcare fully acquires German associate company for 16.9 million euros
UOB CEO ‘cautiously optimistic’ on 2024; Q1 profit down 1.6% to S$1.49 billion