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.