February 3, 2009, 3.34 pm (Singapore time)
Lippo-Mapletree Reit DPU 80% lower than forecast
By ARTHUR SIM
Lippo-Mappletree Indonesia Retail Trust has announced on Tuesday a distributable income of $3.2 million for the quarter ended 31 December 2008 compared to forecast of $15.5 million.
DPU for the period is 0.3 cents, 79 per cent lower compared to its forecast of 1.45 cents.
For the financial year ended 31 December 2008, distributable income was $59.5 million against forecast of $68.9 million. DPU for the year was 5.6 cents against forecast of 6.48 cents.
The decrease in distributable income for FY 2008 was attributed to the allowance for outstanding receivables of $7 million and the writing off of the arrangement fee of $2.8 million for the syndication of $225 million loan.