Retail malls and spaces in LMIRT’s portfolio closed temporarily on March 27, except for essential services such as supermarkets, which opened at shorter operating hours.
The manager of Lippo Malls Indonesia Retail Trust (LMIRT) reported a distribution per unit (DPU) of 0.11 cent for 2Q20 ended June, which slumped 81.7% from the 0.60 cent reported a year ago.
James Liew, CEO of the manager, says “The Covid-19 pandemic has exerted widespread impact on the operating environment and the economy in Indonesia. In support of the Indonesian government’s call to help curb the spread of the coronavirus, the Trust had closed all its malls by 1 April, which affected our 2Q performance”.
