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LMIRT kept at 'reduce' as it suffers drag from higher costs and taxes

Samantha Chiew
Samantha Chiew5/7/2018 03:14 PM GMT+08  • 3 min read
LMIRT kept at 'reduce' as it suffers drag from higher costs and taxes
SINGAPORE (May 7): CGS-CIMB Securities is maintaining its “reduce” call on Lippo Malls Indonesia Retail Trust (LMIRT) with a target price of 33 cents.
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SINGAPORE (May 7): CGS-CIMB Securities is maintaining its “reduce” call on Lippo Malls Indonesia Retail Trust (LMIRT) with a target price of 33 cents.

This came on the back of the trust reporting a 24.7% drop in its 1Q18 DPU to 0.67 cent compared to 0.89 cent last year, as well as a lower y-o-y distributable income of $19 million.

In terms of INR, the group’s total gross revenue increased 10.3% y-o-y to Rp504.0 billion, but in SGD terms, it only rose 1.1% to $49.1 million.

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