, Singapore

Lippo Malls Indonesia Retail Trust distributable income up 20.7% to S$19.1m

Mall acquisitions propelled gross rental income.

Lippo Malls Indonesia Retail Trust (LMIRT) reported 3Q13 gross rental income of S$38.9m, up 13.6% YoY, reports OCBC Investment Research.

"The increase was mainly due to the acquisition of the six new malls in 4Q12, and positive rental reversions for the existing malls," noted OCBC, with distributable income increasing by 20.7% YoY to S$19.1m and DPU climbed 19.2% YoY to 0.87 S cents.

OCBC said the results for the quarter were within the research firm's and street's expectations, as 9M13 DPU of 2.69 S cents formed 75% of OCBC's FY13 estimate.

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