Lippo Malls Indonesia Retail Trust's property, Lippo Malls Kemang. (Photo: Lippo Malls Indonesia Retail Trust)

Lippo Malls Indonesia Retail Trust announced on 4 May that it has achieved a 7.2% year-on-year increase in DPU for its 1Q 2017 at SGD 0.89 Singapore cents, up from the 0.83 cents reported for 1Q 2016.

With this payout, the REIT has delivered consecutively increasing DPU every quarter for two years.

Gross revenue for the quarter increased by 10.1% year-on-year to SGD41.0 million (USD29 million) while net property income (NPI) increased by 12.9% to SGD46.1 million.

Accordingly distributable income for the quarter grew 8.4% year-on-year to SGD25.1 million.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.