LMIR Trust Posts Q1 DPU of 0.08 Singapore Cents

April 28, 2021 – Lippo Malls Indonesia Retail Trust announced a distribution per unit (DPU) of 0.08 Singapore cents for the first quarter ended 31 March 2021, double the 0.04 Singapore cents declared in the previous quarter ended 31 December 2020.

The REIT said this was achieved on the back of distribution to Unitholders increasing to S$6.1 million in 1Q 2021 from S$3.0 million in 4Q 2020.

Chief Executive Officer of the Manager, Mr James Liew said, “As operating conditions gradually improve in Indonesia, with the rollout of the vaccination programme since January this year and the government’s continuous efforts to curb the spread of the pandemic, we were able to reduce the average rental and service charge discounts to tenants, although certain selected key tenants (both related and non-related parties) continued to be granted additional reliefs to support business recovery and maintain portfolio occupancy.”

“Together with the first quarter income contribution from our newly acquired Lippo Mall Puri, which provided the Trust with a stable level of income, we are able to report QoQ improvement in our performance.

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