LMIRT

Rental revenue is up 6.5% on the year at S$28.6 million, but other rental income declines 14.5% to S$290,000.

Companies & Markets

LMIRT Q4 net property income rises 13.8% to S$31.6 million

Revenue rises 8.1% to S$53.3 million, despite rupiah’s 5.9% depreciation against Singdollar

Lippo Mall Puri, another property in LMIRT's portfolio, is located in the established Puri Indah central business district area in West Jakarta.

Companies & Markets

LMIRT launches rights issue to raise S$63 million

Most of the proceeds will go towards paying off loans; some of it will be used for general working capital

Shopper traffic has continued to recover in the quarter, up 7.4 per cent to 32.8 million shoppers, says LMIRT's manager, attributing the improvement to an emphasis on food and beverage, leisure and entertainment sectors.

Companies & Markets

LMIRT Q1 net property income dips 2.4% to S$29.2 million

Revenue for the three months inches up 1.4% to S$49.9 million

LMIRT’s manager says its existing financial debt obligations do not contain any financial covenants with reference to the ICR or the aggregate leverage ratio requirement.

Companies & Markets

LMIRT could fail to meet minimum interest coverage ratio for FY2024, expects no financial consequences

This is mainly due to non-operational accounting adjustments made to Ebitda and interest expenses in Q2 and Q3

Prior to the withdrawal, Moody's outlook on all of LMIRT’s ratings were stable, says the manager.

Companies & Markets

Moody’s, Fitch withdraw LMIRT’s credit ratings

The agencies also withdraw ratings on notes issued by LMIRT’s wholly owned subsidiary, LMIRT Capital

The trust’s Q2 NPI fall came as rental revenue decreased 4.3 per cent to S$27 million, while gross revenue was down 5.1 per cent to S$48.1 million.

Companies & Markets

LMIRT posts 9.2% fall in Q2 net property income; distributions still withheld

Leverage ratio remains at ‘elevated level’ of 44.96%, notes chief executive of the manager

LMIRT's Lippo Mall Puri in West Jakarta. The cut in Fitch's ratings came after the trust said it would proceed with a tender offer for its notes due 2026.

Companies & Markets

Fitch downgrades LMIRT to ‘C’ from ‘CCC’ on distressed debt exchange

The cut in ratings follows LMIRT’s announcement that it will proceed with a tender offer, subject to the fulfilment of certain conditions

The Reit says it started a consent solicitation process to amend certain provisions related to notes due 2026.

Companies & Markets

LMIRT upsizes loan facility to 4.5 trillion rupiah

Proceeds will be used to finance the purchase of outstanding 7.5 per cent senior notes due 2026

Lippo Malls Indonesia Retail Trust's gearing now stands at an estimated 45.2 per cent.

Companies & Markets

LMIRT’s gearing exceeds 45% amid currency changes

The manager says this does not breach the aggregate leverage limit as defined in the Monetary Authority of Singapore’s Collective Investment Schemes code

The secured amortising term loan comes with an average life of about eight years, says LMIRT's manager.

Companies & Markets

LMIRT bags 2.5 trillion rupiah loan facility

This comes after Fitch Ratings’ downgrades

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