Lippo-Mappletree Indonesia Retail Trust

Re: Lippo-Mappletree Indonesia Retail Trust

Postby winston » Fri Apr 01, 2011 9:09 am

Not vested. From OCBC:-

Mapletree Logistics Trust: Acquisition of 98th property in Singapore

Mapletree Logistics Trust (MLT) announced yesterday evening that it has acquired a five-storey warehouse-cum-office building located at 15A Tuas Avenue 18, from Jian Huang Engineering Pte Ltd for a consideration of S$24.5m.

The property has a total GFA of approximately 15,400 sqm and is located in the Tuas industrial zone which has a range of industries from biomedical to electronics manufacturing.

Under the sale-and-leaseback arrangement, the property will be leased to the vendor for a period of seven years with a built-in rental escalation of 2% per annum and an option for extension for a further seven years.

The two-year old property provides an initial NPI of 8.2% and has a remaining land lease of about 27 years. The manager intends to fund the acquisition using proceeds from planned divestments, details of which will be announced in due course.

In the interim, the acquisition will be funded through debt and gearing is expected to
temporarily increase to approximately 40%. Upon completion of the divestments, proceeds received will be used to repay the debt.

With this acquisition, MLT's total portfolio will be increased to 98 properties with a total book value of approximately S$3,609 m. Our BUY rating and fair value of S$1.03 for MLT are presently under review. (Ong Kian Lin)
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Re: Lippo-Mappletree Indonesia Retail Trust

Postby winston » Fri Apr 29, 2011 8:50 am

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Lippo-Mapletree Indonesia Retail Trust said on Thursday its first quarter distribution per unit fell 2.5 percent to 1.17 Singapore cents from a year earlier, hurt by the depreciation of the Indonesian rupiah.

Source: Reuters
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Re: Lippo-Mappletree Indonesia Retail Trust

Postby winston » Thu Jun 16, 2011 9:01 am

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LMIR Trust: Favorable retail outlook ahead; reiterate BUY

Summary: According to Colliers International, no new retail supply entered the Jakarta market in 4Q10. Retail supply growth throughout 2010 in Jakarta and the greater Jakarta area was the lowest since 2009. With only 0.3% growth, YoY growth was 0.2pp below last year. Limited supply will continue throughout this year.

In Jakarta, there will only be an additional 89,000 sq m of retail space by the end of 2011. The limited supply puts Lippo-Mapletree Indonesia Retail (LMIR) trust in a good stead to capitalize on growth opportunities arising from the economy recovery (Indonesia’s economic growth forecast is 6.9-7.0% for 2011).

With a population of more than 200 million, a fast-growing economy and strong domestic consumption, Indonesia offers abundant potential for retail business. Likewise for retail landlords, who are expecting rentals to pick up in 2012-2013.

We believe LMIR is poised to benefit from the rising mall culture in Indonesia. Reiterate BUY with an increased fair value of S$0.61 (prev: S$0.59).on favorable outlook ahead. (Ong Kian Lin)

Source: OCBC
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Re: Lippo-Mappletree Indonesia Retail Trust

Postby winston » Mon Aug 08, 2011 9:35 am

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ï‚· LMIR Trust - Q2 DPU rises 4.9%

Lippo-Mapletree Indonesia Retail Trust (LMIR Trust) has announced a distribution per unit (DPU) of 1.09 cents for the second quarter ended June 30, 2011, up 4.9 per cent from 1.04 cents a year ago.

Distributable income for the period totalled $11.86m, a 5.5 per cent increase over $11.24m in Q2 2010. This represents an annualised DPU yield of about 7.1 per cent based on its Aug 4 closing price of 63.5 cents per unit.

Gross revenue in Q2 dropped 17.5 per cent from $40.15 million a year earlier to $33.11m.

Source: Am Fraser
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Re: Lippo-Mappletree Indonesia Retail Trust

Postby winston » Thu Sep 15, 2011 10:37 am

Not vested

Why did this counter drop 3.4% on a strong day ?

Yield 7.5%, Demographic Tailwind and 30% discount to RNAV
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Re: Lippo-Mappletree Indonesia Retail Trust

Postby mini-investor » Sat Oct 01, 2011 3:10 pm

LMIR just have good news... New loans at lower rates + new acquisitions...

Vested...

http://www.s-reitinvestmentblog.blogspot.com/
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Re: Lippo-Mappletree Indonesia Retail Trust

Postby winston » Mon Oct 03, 2011 12:45 pm

not vested

Singapore Hot Stocks-Lippo Malls falls on rights issue

SINGAPORE, Oct 3 (Reuters) - Units of Singapore-listed Lippo Malls Indonesia Retail Trust fell as much as 10 percent on Monday after it said it planned a rights issue to fund the acquisitions of two retail malls, traders said.

At 0137 GMT, units of Lippo Malls were 9.3 percent lower at S$0.49 with over 1 million units changing hands. This was 1.4 times the average daily volume over the last five sessions.

Lippo Malls, formerly known as Lippo-Mapletree, has proposed raising about S$337 million via a one-for-one renounceable rights issue of 1.1 billion new units at S$0.31 each, which represents a 42.6 percent discount to its closing price on Sept 30.

Part of the funds raised will go towards acquiring two retail malls in Indonesia for S$388 million ($298 million), Lippo said.

"In such markets, investors may be more wary about rights issues. However, the acquisition of the two assets is positive for the trust," said a local dealer.

Source: Reuters
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Re: Lippo-Mappletree Indonesia Retail Trust

Postby winston » Thu Nov 17, 2011 6:35 pm

Not vested

Reiterate BUY. We factor in the contributions from the two new malls and rights issue, as the acquisitions are expected to complete on 9 Dec.

Using the Dividend Discount Model, our fair value is now adjusted from S$0.61 to S$0.45.

Looking at an attractive potential upside of 26.3%, we maintain our BUY rating on LMIRT.

Source: OCBC
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Re: Lippo-Mappletree Indonesia Retail Trust

Postby mini-investor » Sat Dec 17, 2011 2:48 pm

Indonesia is moving fast ahead... Will LMIR follow thru as well?

http://s-reitinvestmentblog.blogspot.co ... label/LMIR
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Re: Lippo-Mappletree Indonesia Retail Trust

Postby winston » Wed Jun 27, 2012 9:39 am

not vested

Maintain BUY

We continue to like LMIRT for its strong financial position (aggregate leverage at 9.2%, with no refinancing needs until 2014), growth potential and sound industry fundamentals.

The unit price has fallen 10.5% from its last peak in 24 Apr in tandem with the broader market, despite the expected resilience from its underlying portfolio.

This presents a favourable entry point for investors, in our view. As such, maintain BUY with unchanged fair value of S$0.43.


Source: OCBC
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