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
UBS weighs synthetic risk transfer amid capital boost proposals
Oil settles higher on supply concerns in the Mid-East, economic woes subdue gains
S-Reits falter as investors weigh possibility of zero rate cuts in 2024
CapitaLand Investment posts total revenue of S$650 million for Q1
Europe: Stoxx 600 logs best day in three months as banks shine
US: Stocks rally after strong tech results