The manager of Lippo Malls Indonesia Retail Trust (LMIRT) announced on Monday (Mar 20) that it will not pay its distribution, originally scheduled on Mar 27, to holders of its S$140 million perpetual securities issued in September 2016.

It said in a bourse filing that the issuer has no obligation to pay the March 2023 distribution and the unpaid sum is noncumulative and does not accrue distribution.