OCBC Investment Research has issued a ‘Sell’ recommendation on Singapore-listed Lippo Malls Indonesia Retail Trust, amid new tax regulations by the Indonesian government.
As reported by REITsWeek on 12 April, the REIT warned that it may see material impact due to Regulation Number 34 of 2017, which subjects a 10% income received from land and building leases.
Read: Lippo Malls Indonesia REIT warns of material impact from new government tax
The new regulations will be effective from 2 January 2018.
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