SINGAPORE (Dec 24): Real estate investment trusts sponsored by the Lippo group have had a difficult 2018 (see table). The worst performer was Lippo Mall Indonesia Retail Trust (LMIRT), down 50% based on unit price performance. While all the REITs are trading at discounts to their net asset values, OUE’s price-to-book is just 0.34 times, which is seen as a distressed level. The destruction of value is particularly stark because OUE could have been the ideal beneficiary and investment of choice, following the government’s implementation of additional property measures in July. 

Have a premium account? Sign in to continue reading.

Unlimited access to all stories from $99.9/year*

The latest reporting and analysis from business and investments to news and views on social issues.


  • Simultaneous logins across all devices
  • Instant access to past digital issues
  • Unlimited access to The Edge Malaysia
  • *For annual subscription plan only. T&Cs apply