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Overview of Lippo Malls Trust Post Reply Rate topic
bishan22 Supreme	23-Apr-2019 09:22        bishan22 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Top volume today....
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laksaman57 Supreme	19-Mar-2019 12:10        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Rights @20% ? @30% ?
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LionInvestments Member	18-Mar-2019 17:59        LionInvestments About Contact  Quote this Post!
x 0   x 0  Alert Admin	Sure, it is clear LK needs money to deleverage and needs to sell assets and they are probably in a relative hurry given the fact they don' t wait for Lippo Malls results to improve before announcing this acquisition. However I believe Lippo Malls has not given sufficient information to allow non-related unitholders to decide whether this is a good deal. While they have given valuation with and without vendor support (for whatever that' s worth - I don' t trust these valuers too much), they have not given the initial NPI without vendor support. Do the unitholders have the power to force Lippo Malls to negotiate a better price in case this initial NPI without vendor support is not satisfactory? Even in Indonesia on such a transaction the related parties would not be allowed to vote in an EGM, hence giving the other unitholders quite some leverage. Ximi88      ( Date: 14-Mar-2019 14:37) Posted: Imagine you are captain of a sinking ship carrying a full load of goods, what will you do to save the ship and goods? You will throw some goods away, usually the least valueable, hoping the ship can make it to shore, at least with whatever goods it can savage. From the series of divestment in the Lippo related companies like OUE CT, it is very obvious that the elephant is in the room. This is probably not end of Lippo problems, as its ambitious Meikarta project is still on going.   LionInvestments      ( Date: 13-Mar-2019 11:07) Posted: I am a bit surprised about the timing of the deal I would have assumed they would wait until the results of the trust improve after disastrous last quarter. A few pertinent questions: Since this is a large related party transaction it would need approval by EGM, where  the sponsor cannot vote on this and the non related shareholders have the power to vote this deal down if the conditions are not right. Am I right? Any information on the NPI yield without vendor support? We will have to heavily discount the vendor support since it is a high risk party and this should be reflected in the acquisition price of the mall. If deal partially financed by rights issue, which I assume, LK has all interest to keep the discount low to avoid to be diluted heavily, since  I assume LK will not be allowed to subscribe to the rights issue since the proceeds of the sale of the mall will be used to deleverage. Or is their tactics to do the rights issue at very big discount (hence the timing after disastrous results) to scare the hell out of all unitholders and make the unit price crash, so that an undisclosed  related party that can find some financing (miraculously) can buy up the non-exercised rights cheaply and that they can actually increase their stake in the REIT at low cost..? I imagine that they might be able to find some parties in Indonesia to do the latter  by sharing the benefits while keeping this confidential? Any informed views and facts  are welcome...Please refrain from commenting if you just want to vent your frustrations  or are making speculative comments
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Ximi88 Member	14-Mar-2019 14:37        Ximi88 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Imagine you are captain of a sinking ship carrying a full load of goods, what will you do to save the ship and goods? You will throw some goods away, usually the least valueable, hoping the ship can make it to shore, at least with whatever goods it can savage. From the series of divestment in the Lippo related companies like OUE CT, it is very obvious that the elephant is in the room. This is probably not end of Lippo problems, as its ambitious Meikarta project is still on going.   LionInvestments      ( Date: 13-Mar-2019 11:07) Posted: I am a bit surprised about the timing of the deal I would have assumed they would wait until the results of the trust improve after disastrous last quarter. A few pertinent questions: Since this is a large related party transaction it would need approval by EGM, where  the sponsor cannot vote on this and the non related shareholders have the power to vote this deal down if the conditions are not right. Am I right? Any information on the NPI yield without vendor support? We will have to heavily discount the vendor support since it is a high risk party and this should be reflected in the acquisition price of the mall. If deal partially financed by rights issue, which I assume, LK has all interest to keep the discount low to avoid to be diluted heavily, since  I assume LK will not be allowed to subscribe to the rights issue since the proceeds of the sale of the mall will be used to deleverage. Or is their tactics to do the rights issue at very big discount (hence the timing after disastrous results) to scare the hell out of all unitholders and make the unit price crash, so that an undisclosed  related party that can find some financing (miraculously) can buy up the non-exercised rights cheaply and that they can actually increase their stake in the REIT at low cost..? I imagine that they might be able to find some parties in Indonesia to do the latter  by sharing the benefits while keeping this confidential? Any informed views and facts  are welcome...Please refrain from commenting if you just want to vent your frustrations  or are making speculative comments
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fundamentalhero Veteran	13-Mar-2019 22:43        fundamentalhero About Contact  Quote this Post! Style: Fundamental   Yells: "I NEED HONEYS AND MONIES"
x 0   x 0  Alert Admin	read the news properly.... LBO REF base on the incoming deby funding.. gearing up, dividend % most likely going down. might as well throw the towel and jump ship to asian pay tv if you base it on dividend. way i see is, used to be good stock. but now main family need money and through equity financing in a large way =) imo this share i will not follow anymore as with other lippo link stocks for next 3 months to 6 months based on increasing interest rate environment.
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LionInvestments Member	13-Mar-2019 11:07        LionInvestments About Contact  Quote this Post!
x 0   x 0  Alert Admin	I am a bit surprised about the timing of the deal I would have assumed they would wait until the results of the trust improve after disastrous last quarter. A few pertinent questions: Since this is a large related party transaction it would need approval by EGM, where  the sponsor cannot vote on this and the non related shareholders have the power to vote this deal down if the conditions are not right. Am I right? Any information on the NPI yield without vendor support? We will have to heavily discount the vendor support since it is a high risk party and this should be reflected in the acquisition price of the mall. If deal partially financed by rights issue, which I assume, LK has all interest to keep the discount low to avoid to be diluted heavily, since  I assume LK will not be allowed to subscribe to the rights issue since the proceeds of the sale of the mall will be used to deleverage. Or is their tactics to do the rights issue at very big discount (hence the timing after disastrous results) to scare the hell out of all unitholders and make the unit price crash, so that an undisclosed  related party that can find some financing (miraculously) can buy up the non-exercised rights cheaply and that they can actually increase their stake in the REIT at low cost..? I imagine that they might be able to find some parties in Indonesia to do the latter  by sharing the benefits while keeping this confidential? Any informed views and facts  are welcome...Please refrain from commenting if you just want to vent your frustrations  or are making speculative comments
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alexchew Master	12-Mar-2019 16:42        alexchew About Contact  Quote this Post!
x 0   x 0  Alert Admin	parent sell assets to child at high price, even more money flow back to parent.. This is call economics..  alexchew      ( Date: 12-Mar-2019 16:39) Posted: ultimate... parent raise money, then child will raise money... parent use money to subscribe to child' s equity..
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alexchew Master	12-Mar-2019 16:39        alexchew About Contact  Quote this Post!
x 0   x 0  Alert Admin	ultimate... parent raise money, then child will raise money... parent use money to subscribe to child' s equity..
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laksaman57 Supreme	12-Mar-2019 16:35        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Price holding up well. Looks like unit holder looking forward to right issuance.
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laksaman57 Supreme	12-Mar-2019 11:36        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	"Looking" but can don't buy meh
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Starship Supreme	12-Mar-2019 11:25        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	LMIRT to buy retail mall in West Jakarta for 3.7t rupiah TUE, MAR 12, 2019 - 9:19 AM LIPPO Malls Indonesia Retail Trust (LMIRT) is looking to acquire Lippo Mall Puri  in West Jakarta for 3.70 trillion rupiah (S$354.7 million), financed with a combination of debt and equity financing, the Reit' s (real estate investment trust) manager said in a regulatory filing. LMIRT Management, the Reit manager of LMIRT, has entered into a conditional sales and purchase agreement (CSPA) with PT Mandiri Cipta Gemilang for the proposed acquisition of Lippo Mall Puri. PT Mandiri Cipta Gemilang is a wholly owned subsidiary of PT Lippo Karawaci Tbk, which is the sponsor of LMIRT. Through the move, LMIRT looks to boost its assets by 19 per cent to 23.21 trillion rupiah from 19.51 trillion rupiah. It will also increase its total net lettable area (NLA) by 12.69 per cent to 1.0 million square metres (sq m), from 910,749 sq m. Vendor PT Mandiri Cipta Gemilang has also agreed to provide support after the acquisition is completed, as Lippo Mall Puri is &ldquo still maturing in terms of shopper recognition, tenant performance and passing rents&rdquo , said the Reit manager. This is with a guaranteed level of net property income (NPI) of 348 billion rupiah up to December 2019, increasing to 356 billion rupiah in December 2023. With vendor support, Lippo Mall Puri is expected to generate an NPI yield of about 9.41 per cent. The acquisition is conditional on the completion of the segregation of the existing land titles and issuance of strata title certificates for Lippo Mall Puri, and LMIRT securing sufficient financing for the buyout. Gouw Vi Ven, chief executive officer of LMIRT Management, said the group aims to complete the acquisition in the second half of 2019 after the issuance of strata title certificates for Lippo Mall Puri. &ldquo To ensure a smoother completion process and to better protect the interest of the unitholders, the timing of any fundraising exercise to finance this acquisition will take into account the timing of the issuance of the strata title certificates for the mall,&rdquo Ms Gouw said. The decision regarding the timing of the fundraising to finance the acquisition will be made by the LMIRT Management at the appropriate time, taking into account prevailing market conditions and confirmation of the issuance of the strata title certificates. Lippo Mall Puri, which is LMIRT&rsquo s &ldquo largest acquisition to date&rdquo , has a total NLA of about 115,600 sq m. It comprises two eight-storey buildings and two lower ground floors, with its retail space distributed over five floors and the two lower ground floors. The remaining floor area is occupied by a car park and two retail walkways, which will not be part of this acquisition, according to the statement. As at Dec 31, 2018, the mall has an occupancy rate of 89.6 per cent, with 324 tenants ranging from retail, dining, entertainment and leisure options. They include brands such as Cinema XXI, Matahari, Parkson and Time Zone, and over 100 renowned international brands such as adidas, Best Denki, H& M, Marks & Spencer, Uniqlo and Zara. Since it started operations in July 2014, average footfall has grown from 176,000 visitors per month in Q3 2014 to nearly 1.22 million visitors per month in Q4 2018, a compounded growth rate of 62 per cent across its five years of operations, the statement said. https://www.businesstimes.com.sg/companies-markets/lmirt-to-buy-retail-mall-in-west-jakarta-for-37t-rupiah
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alidaud Senior	12-Mar-2019 10:54        alidaud About Contact  Quote this Post!
x 0   x 0  Alert Admin	http://cakap.net/gann-square-of-9/?s=lippo+malls& cp=0.20
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Starship Supreme	12-Mar-2019 10:47        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	FOR IMMEDIATE RELEASE LMIR Trust charts new growth with proposed acquisition of iconic retail mall in West Jakarta &bull LMIR Trust enters into a conditional sale and purchase agreement to acquire Lippo Mall Puri for a purchase consideration of Rp.3,700.0 billion (S$354.7 million) 1 , an attractive 5.13% discount to the lower of two independent valuations &bull Strategically located within established catchment area and part of the largest premium integrated development in West Jakarta &bull Expected NPI yield of 9.41% (including vendor support) that supports strategy of acquiring income-producing assets to sustain long-term growth SINGAPORE &ndash 12 March 2019 &ndash LMIRT Management Ltd. (the &ldquo REIT Manager&rdquo ), the manager of Lippo Malls Indonesia Retail Trust (&ldquo LMIR Trust&rdquo or the &ldquo Trust&rdquo ) announced that it has entered into a conditional sales and purchase agreement (the &ldquo CSPA&rdquo ) with PT Mandiri Cipta Gemilang (the &ldquo Vendor&rdquo ), a wholly-owned subsidiary of PT Lippo Karawaci Tbk, the sponsor of LMIR Trust (the &ldquo Sponsor&rdquo ), for the proposed acquisition of Lippo Mall Puri (&ldquo Puri Mall&rdquo ) 2 at a purchase consideration of Rp.3,700.0 billion (S$354.7 million) (the &ldquo Acquisition&rdquo ).    The purchase consideration represents an attractive 5.13% discount to the lower of two independent valuations by Cushman & Wakefield VHS Pte Ltd3 and Colliers International Consultancy & Valuation (Singapore) Pte Ltd 4 (valued with vendor support) as at 31 December 2018. The Acquisition will grow LMIR Trust&rsquo s portfolio to 31 properties comprising 24 retail malls and seven retail spaces and is expected to boost LMIR Trust&rsquo s assets by 19.0% from Rp.19,514.1 billion (S$1.9 billion) to Rp.23,214.1 billion (S$2.2 billion) as at 31 December 2018. The Acquisition will also increase the Trust&rsquo s total net lettable area (&ldquo NLA&rdquo ) by 12.69% from 910,749 square metres to 1,026,349 square metres. As Puri Mall is still maturing in terms of shopper recognition, tenant performance and passing rents,, the Vendor has also agreed to provide support from completion of the Acquisition, with a guaranteed level of net property income (&ldquo NPI&rdquo ) of Rp.348.0 billion up to December 2019, increasing to Rp.356.0 billion in December 2023. Together with the vendor support, Puri Mall is expected to generate an NPI yield of approximately 9.41% which is higher than the NPI yield of the existing portfolio of the Trust of 8.94% as at 31 December 2018. Completion of the Acquisition is conditional upon, among others, completion of the segregation of the existing land titles and issuance of strata title certificates for Puri Mall and the Trust securing sufficient financing for the Acquisition. Ms Gouw Vi Ven, Chief Executive Officer of the REIT Manager said, &ldquo This is a great opportunity to acquire an iconic and premier asset at an attractive price. With the on-going positive economic developments within Indonesia, as shown by the gradual recovery of the Indonesian Rupiah to Singapore Dollar since the beginning of this year, the entry into a conditional sale and purchase agreement for Puri Mall allows us to lock in the attractive price.  As at 31 December 2018, Puri Mall has an occupancy rate of 89.6%, higher than industry average of 83.2% as at 3Q2018. Puri Mall&rsquo s 324 tenants offer visitors a full and extensive range of retail, dining, entertainment and leisure options with household brands including Cinema XXI, Matahari, Parkson and Time Zone, as well as over 100 renowned international brands such as Adidas, Best Denki, H& M, Marks & Spencer, Uniqlo, and Zara.  https://links.sgx.com/FileOpen/20190312_LMIRT_-_Press_Release.ashx?App=Announcement& FileID=547033
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ccakg88 Member	12-Mar-2019 09:10        ccakg88 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Lippo mall rights issue coming.  Issue price of between 11.6 cents to 12 cents. More than 40 percent discount to current price!!!  SHORT it down!!
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laksaman57 Supreme	01-Mar-2019 22:16        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	https://m.nasdaq.com/article/thai-baht-indonesian-rupiah-lead-losses-20190227-01399
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laksaman57 Supreme	26-Feb-2019 10:01        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Price tag is HUGE 😰 Ready the cheque book.
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alexchew Master	26-Feb-2019 09:33        alexchew About Contact  Quote this Post!
x 0   x 0  Alert Admin	reits are always a dumping ground, if the sponsor/manager (likely they are answering to the same person) do not act in the best interest. So many cases of badly run reits, and frankly, investors choose what they want.. They can get 10%+ yield, but if only, they are able to run fast enough for the diminishing capital loss...    laksaman57      ( Date: 26-Feb-2019 09:24) Posted: https://www.cnbcindonesia.com/market/20190124205957-17-52289/ini-penyebab-sp-turunkan-peringkat-lpkr-jadi-junk "...Lippo is still considering selling Puri Mall (a large retail mall in Jakarta) to its retail REIT, Lippo Malls Indonesia Retail Trust (LMIRT). The asset is predicted by Chan to be worth IDR 3.5 trillion-IDR 4 trillion, big for LMIRT to buy. The mall will cost almost 30% of the REIT's book value and close to 60% of its market capitalization."
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laksaman57 Supreme	26-Feb-2019 09:24        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	https://www.cnbcindonesia.com/market/20190124205957-17-52289/ini-penyebab-sp-turunkan-peringkat-lpkr-jadi-junk "...Lippo is still considering selling Puri Mall (a large retail mall in Jakarta) to its retail REIT, Lippo Malls Indonesia Retail Trust (LMIRT). The asset is predicted by Chan to be worth IDR 3.5 trillion-IDR 4 trillion, big for LMIRT to buy. The mall will cost almost 30% of the REIT's book value and close to 60% of its market capitalization."
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LionInvestments Member	25-Feb-2019 15:45        LionInvestments About Contact  Quote this Post!
x 0   x 0  Alert Admin	First REIT is different since it has been transferred to OUE, the other branch of the Lippo family. My guess would be that OUE will inject non-Indonesian healthcare assets in the Reit instead of a rights issue, or combined with a rights issue to buy some assets from LK, so it may not be very  dilutive for existing shareholders. Whether it is good or bad on the long term to diversify away from Indonesia is another matter though...   alexchew      ( Date: 25-Feb-2019 15:32) Posted: preview of what will happen to first reit? LionInvestments      ( Date: 25-Feb-2019 15:31) Posted: I doubt they will do this rights issue anytime soon since the last results are not good enough to realise a good price, hence LK will be diluted too much since they don' t have the cash to follow. So, assuming the realised FX loss on cash to prepay debt was a one-off, and combined with an appreciating Rupiah, the next quarterly results should be better, so they will probably wait at least until after next quarterly results announcement. Also as the Rupiah stabilises the pressure on LK will be getting less extreme so they can afford to wait a bit longer to get a better price for Puri mall... While I am definitely concerned, it may not necessarily be a disaster, so better just wait and see how it develops..
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alexchew Master	25-Feb-2019 15:32        alexchew About Contact  Quote this Post!
x 0   x 0  Alert Admin	preview of what will happen to first reit? LionInvestments      ( Date: 25-Feb-2019 15:31) Posted: I doubt they will do this rights issue anytime soon since the last results are not good enough to realise a good price, hence LK will be diluted too much since they don' t have the cash to follow. So, assuming the realised FX loss on cash to prepay debt was a one-off, and combined with an appreciating Rupiah, the next quarterly results should be better, so they will probably wait at least until after next quarterly results announcement. Also as the Rupiah stabilises the pressure on LK will be getting less extreme so they can afford to wait a bit longer to get a better price for Puri mall... While I am definitely concerned, it may not necessarily be a disaster, so better just wait and see how it develops... laksaman57      ( Date: 25-Feb-2019 13:15) Posted: Present price maybe supported to help potential right issuance to buy Puri mall from LK. Opportunity to exit before support collapse. Dyodd
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