SINGAPORE (May 4): The manager of Lippo Malls Indonesia Retail Trust (LMIR Trust) reported a 24.7% fall in DPU to 0.67 cent for 1Q18 ended March, compared to 0.89 cent a year ago.
The decline came on the back of lower distributable income of $19 million from $25.1 million a year ago.
LMIRT Management says the trust’s performance in Singapore dollar terms was impacted by a 9.1% y-o-y weakening of Indonesia rupiah against Singapore dollar in 1Q18, as well as higher property expenses and an increase in income tax as a result of the new tax regulation passed by the Indonesian government.
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