News about Lippo Malls Indonesia Retail Trust —
Lippo Malls (LMIRT) is planning to acquire a new property from its sponsor, the Lippo Mall Puri, for the sum of S$354.7 million (or 3.70 trillion Indonesian rupiah).
As at Dec 31, 2018, the mall has an occupancy rate of 89.6 per cent, with 324 tenants ranging from retail, dining, entertainment and leisure options. They include brands such as Cinema XXI, Matahari, Parkson and Time Zone, and over 100 renowned international brands such as adidas, Best Denki, H&M, Marks & Spencer, Uniqlo and Zara.
The large size of the purchase will make the assets size of the trust increase by 19%, which means a private or public right issue is likely during the 2019 year.