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Overview of Lippo Malls Trust
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laksaman57
Supreme |
07-May-2018 15:20
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"The new management has taken the effort to clarify that market rents are significantly below the expiring rents for these anchor tenant leases, and we have adjusted our rental reversion assumptions accordingly. We now assume a -25% rental reversion rate for 10% of LMIRT?s leases by NLA, which are due to expire at the end of this year."
https://sgx.i3investor.com/m/blog/sgxstockwarrant/30189.jsp
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Starship
Supreme |
07-May-2018 13:34
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CGS-CIMB keeps ' reduce' rating on Lippo Malls Trust OCBC ceases coverage MON, MAY 07, 2018 - 10:56 AM CGS-CIMB on Monday kept its " reduce" rating on Lippo Malls Indonesia Retail Trust (LMIRT), citing its higher costs and taxes as well as a weaker-than-projected rupiah against the Singapore dollar as reasons. It also kept its target price unchanged at S$0.33. The research house said: " LMIRT&rsquo s current in-place two-year currency hedges are expected to roll off in Feb 19. The present weaker rupiah will likely have an adverse impact when LMIRT converts its rupiah distributions into SGD. Hence, we keep our ' reduce' call." On Monday also, OCBC Investment Research said it is ceasing coverage on LMIRT " due to a reallocation of internal resources" . It noted that the trust' s first-quarter&rsquo s distributions were hit by a 9.1 per cent weakening in the rupiah, the new tax regulation, as well as an increase in total property operating expenses. http://www.businesstimes.com.sg/companies-markets/cgs-cimb-keeps-reduce-rating-on-lippo-malls-trust-ocbc-ceases-coverage |
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laksaman57
Supreme |
06-May-2018 15:22
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Was there disclosure of negative/positive rental reversion for expiring anchor tenant leases ? | ||||
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laksaman57
Supreme |
05-May-2018 22:30
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Weak consumer spending = Bad for retail = Bad for LMIRT
Weak inflation = Bad for currency= Bad for LMIRT
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laksaman57
Supreme |
05-May-2018 19:25
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Condition getting worst
https://www.bloomberg.com/news/articles/2018-05-03/weak-consumption-may-keep-indonesia-from-raising-rates-just-yet |
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SimpleTrade
Senior |
04-May-2018 22:58
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Very tempted to buy this (bef new tax ) luckily didnt manage to get any as i bid like 2 bids below the price. | ||||
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laksaman57
Supreme |
04-May-2018 22:35
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"Chan Lie Leng, CEO of the REIT manager, ?With the Monetary Authority of Singapore?s recent policy stance on the slight increase of the slope of the S$NEER band from zero percent previously, we expect further depreciation of the Indonesian Rupiah in the coming quarters."
https://www.theedgesingapore.com/lmir-trust-reports-247-fall-1q-dpu-067-cent-weakening-rupiah-new-tax |
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chengwh1
Elite |
04-May-2018 17:45
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My analysis :- 1) Why did the currency effect hit them so hard,... they did not have hedging vs the SGD ? A country like Indonesia must always have hedging,... since it' s currency is so weak vs the mighty SGD. 2) The dpu dropped by almost 25% against the earlier amount in the previous corresponding period. Currency hit them by 9.1%. New tax ruling in Indon hit them by 10% on that portion of the rental amt collected, not against the overall GRI. So,.. property expenses must have hit them by 10% to 12% ? 3) Why was the New Tax Ruling not informed to investors back in end-December 2017 so that investors can decide on what actions to take. This ruling was only made public in April 2018. This is too late for investors to act. The effect is so strong against our dpu. Growth prospects are strong in Indon, GRI and NPI increased a lot in Rupiah terms, high occupancy, etc,... are not really helpful if the dpu can drop by a quarter,.... Just helping out with the analysis here, am not invested into LMIRT. |
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EveryoneHuatLah
Senior |
04-May-2018 07:45
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Not sure why but i also saw this. That they play safe by booking more allowance on doubtful debt which took out probably another 2 mio on distribution income. If they are able to at least recover a portion, we should see it recorded on next quarter for more distribution to unit holders Quote&rdquo NPI for the quarter registered a 4.6% dip to S$43.9 million, mainly due to higher property operating expenses, which more than doubled to S$5.2 million from S$2.5 million (last year&rsquo s expenses included a one-off reversal of allowance on doubtful receivables).&rdquo |
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Marko1975
Elite |
04-May-2018 00:34
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I have a question... from the results.. in q1 2017 there was a amoritzation of intangible assets amounting 3m vs 750k in q1 2018... that also cause a 2m drop in diatributable income.. anyone knows why? | ||||
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EveryoneHuatLah
Senior |
03-May-2018 22:02
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True lets short this counter
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laksaman57
Supreme |
03-May-2018 20:24
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As and when income support end, how much more dpu will fall ? | ||||
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Starship
Supreme |
03-May-2018 20:10
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LMIR TRUST declares DPU of 0.67 cents for 1Q 2018 Singapore, 3 May 2018 &ndash LMIRT Management Ltd, the manager of Lippo Malls Indonesia Retail Trust (&ldquo LMIR Trust&rdquo or the &ldquo Trust&rdquo ), today reported steady growth in total gross revenue and net property income (&ldquo NPI&rdquo ) in Rupiah terms for the first quarter ended 31 March 2018 (&ldquo 1Q 2018&rdquo ), which grew 10.3% and 4.1% to Rp504.0 billion and Rp450.9 billion respectively. The positive results were mainly boosted by contributions from the acquisitions of Lippo Plaza Kendari in June 2017, Lippo Plaza Jogja and Kediri Town Square in December 2017, and partially offset by lower net property income of Rp15.9 billion in 1Q 2018 from Rp30.6 billion in 1Q 2017 as a result of the nonrenewal of the master leases of the seven retail spaces. However, the Trust&rsquo s performance in Singapore Dollar terms was impacted by a 9.1% year-on-year weakening of Indonesia Rupiah against Singapore Dollar in 1Q 2018, 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. This new regulation, which came into effect in January 2018, levied a 10% tax on outsourced service charges and utilities recovery charges. As a result of the aforementioned factors, the Trust reported a year-on-year decline in distribution per unit (&ldquo DPU&rdquo ) to 0.67 Singapore cents for 1Q 2018 on the back of lower distributable income of S$19.0 million, compared to 0.89 Singapore cents on S$25.1 million a year ago. http://infopub.sgx.com/FileOpen/PR-LMIR%20Trust%201Q%202018%20Results.ashx?App=Announcement& FileID=503038 |
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laksaman57
Supreme |
03-May-2018 19:52
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Is there still income support ?
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EveryoneHuatLah
Senior |
03-May-2018 19:45
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Yeah and share price fell from 0.46 to 0.33
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laksaman57
Supreme |
03-May-2018 19:34
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"Distributive income declining from S$25.1 million to S$19.0 million
DPU declining from 0.89 cents to 0.67 cents" |
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EveryoneHuatLah
Senior |
03-May-2018 19:15
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Dividend still got more than 8 percent | ||||
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EveryoneHuatLah
Senior |
02-May-2018 18:24
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Got chance the share price will rebound if the dividend fall is not as bad as we thought
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laksaman57
Supreme |
02-May-2018 12:39
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https://www.theedgesingapore.com/tags/lippo-malls-indonesia-retail-trust-lmirt | ||||
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puayheng
Member |
02-May-2018 12:02
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My biggest concern with Lippo is the over valuation by Sponsor when dumping properties to this Reit. You can see that by comparing property valuations over the last few years annual report. | ||||
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