Lippo Malls Indonesia Retail Trust DPU Rises for 1Q2016

LMIR Trust Logo

Lippo Malls Indonesia Retail Trust (“LMIR Trust”) announces its 1Q2016 financial results on 3rd May 2016. Gross revenue increase by 8.5%. Net Property Income (“NPI”) increase by 4.6%. Distribution Per Unit (“DPU”) increases 5.1% to 0.83 cents as compared with 0.79 cents in 1Q2015.

1Q FY16
1Q FY15
Gross Revenue45,52441,9728.5
Net Property Income40,83239,0264.6
Distributable Amount23,17821,5017.8
Distribution Per Unit (“DPU”) (cents)0.830.795.1


LMIR’s total outstanding debt as at 31 March 2016 stood at SGD 695 million, with a gearing ratio of 35.7%. Weighted Average Maturity of debt facilities was 2.18 years. I noticed that  S$150 million fixed rate note are due this year October 2016.

LMIR Weighted Average Debt Maturity 1Q2016

Rental Revenue

These are the top tenants by gross rental revenue. Some familiar names are Giant supermarket, Fitness First and Carrefour. The top 10 tenants contribute to approximately 22.7% to LMIR Trust gross rental revenue.

LMIR Top 10 Tenants 1Q2016

Lease Expiry Profile

The weighted average lease expiry is 4.92 years. The mixture of long and short term leases in LMIR Trust’s portfolio provides growth and stability.

LMIR Lease Expiry Profile 1Q2016

Rental Reversion

The below shows the rental reversion trend for LMIR Trust.

LMIR Rental Reversion 1Q2016

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