Lippo Malls Indonesia Retail Trust Manager Obtains New S$30 Million (US$ 730,000) Loan Facility
August 19, 2021 – Lippo Malls Indonesia Retail Trust (LMIRT) Management Ltd., as manager of LMIRT, announced that Perpetual (Asia) Limited – in its capacity as trustee of LMIR Trust – has obtained a committed S$30 million (US$730,000) revolving loan facility from Barclays Bank PLC.
The loan is expected to be used for working capital requirements and/or repayment of any existing financial indebtedness.
LMIRT also announced that following the Indonesian government’s progressive easing of restrictions in Jakarta and other major cities in Java and Sulawesi due to the improving Covid-19 situation in these areas, 12 of the Trust’s retail malls, namely Lippo Mall Puri, Lippo Mall Kemang, Pluit Village, Gajah Mada Plaza, Plaza Semanggi, Tamini Square, Cibubur Junction, Lippo Plaza Kramat Jati, Bandung Indah Plaza, Istana Plaza, Mal Lippo Cikarang and Lippo Plaza Kendari, and two retail spaces, namely WTC Matahari and Depok Town Square are allowed to reopen subject to certain precautionary measures.
These measures include as 50% mall capacity, proof of first dose vaccination, F&B dining-in capacity limits with maximum of two persons to a table alongside a 30-minute eating time limit, and age restrictions for those under 12 years old being prohibited from visiting the malls.
Read more about the loan facility here..
Read more about the reopening of malls here..