SINGAPORE (Nov 15): OCBC Investment Research has maintained its “buy” call on Lippo Malls Indonesia Retail Trust (LMIRT) with an unchanged fair value of 40 cents
In a Monday report, lead analyst Deborah Ong highlights the trust’s recent set of “strong results” in 3Q16 with gross revenue, net property income (NPI) and DPU increasing y-o-y by 6.6%, 7.6% and 11.7% respectively.
“We are positive on the outlook for FY17 given the prospect of robust rental reversions; 23% of LMIRT’s leases by NLA are expiring in FY17, and we expect that a bulk of this includes major anchor tenants with long-term leases such as Matahari and Hypermart,” shares Ong.
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