“Because of the government policy, we think that Indonesia has very good potential for Reits,” Lippo Group CEO James Riady told reporters on Wednesday
Lippo Group CEO announces on Wednesday, 28th October 2015 that the group plans to shift the two REITS from Singapore to Indonesia. By doing so, the business will benefit from tax breaks offered by Jakarta. You can read more about double taxation at Investment Moats.
This will mean the possible delisting of the two REITS in Singapore (First REIT and Lippo Malls Indonesia Retail Trust).
LMRT Management Ltd, the manager of LMIR Trust made an announcement on its website that it is not aware and not informed by LMIR Trust’s sponsor, PT Lippo Karawaci Tbk of the sponsor’s plan mentioned in the article published on The Business Times.
Lippo to shift Reits from Singapore to Indonesia: CEO (The Business Times, 28th October 2015)
Possible delisting of Saizen REIT, First REIT and LMRT (AK71, A Singaporean Stocks Investor, 28th October 2015)
First REIT and Lippo Malls possibly moving to Indonesia? (Kyith Ng, Investment Moats, 29th October 2015)