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LMIR Trust reports 24.7% fall in 1Q DPU to 0.67 cent on weakening rupiah, new tax

PC Lee
PC Lee5/4/2018 07:07 AM GMT+08  • 3 min read
LMIR Trust reports 24.7% fall in 1Q DPU to 0.67 cent on weakening rupiah, new tax
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.
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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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