SINGAPORE (May 11): On May 5, OCBC Credit Research pointed out that Lippo Mall Indonesia Retail Trust did not accrue distributions to perpetual holders under its statement of distribution.

Then came this announcement: “From May 11, 2020, Maybank Kim Eng will cease financing for Lippo Malls, this includes Lippo Malls Indonesia Retail Trust, Lippo Malls Indo 6.6% 221219 and Lippo Malls Tr $140M7%PERPSEC, in view of the recent adverse news. As such, we require affected clients to deposit additional margin by 22 May 2020, to satisfy the margin call,” the broker says.

According to LMIRT’s 1QFY2020 financial statement it reported income available for distribution for unitholders at $14.55 million, and for perpetual security holders at $4.37 million.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook