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Overview of Lippo Malls Trust Post Reply Rate topic
gravity8888 Supreme	16-Nov-2018 09:03        gravity8888 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Every day dropping.. Once break 20 ..bye bye
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alexchew Master	15-Nov-2018 15:17        alexchew About Contact  Quote this Post!
x 0   x 0  Alert Admin	if the DPU cut by a lot, the price should reflect.. same as APTV... sooner or later, it will drop by 30% to 40% at least. TA_Expert      ( Date: 15-Nov-2018 15:13) Posted: I feel sad for those investors who are still holding on to the shares. It is a slow death.
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TA_Expert Supreme	15-Nov-2018 15:13        TA_Expert About Contact  Quote this Post!   Yells: "The World has changed"
x 0   x 0  Alert Admin	I feel sad for those investors who are still holding on to the shares. It is a slow death.
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vivacious Supreme	15-Nov-2018 12:37        vivacious About Contact  Quote this Post!
x 0   x 0  Alert Admin	below 20c soon
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lingua101 Veteran	15-Nov-2018 01:05        lingua101 About Contact  Quote this Post!
x 0   x 0  Alert Admin	I think Lippo finally shows its true color laksaman57      ( Date: 13-Nov-2018 09:55) Posted: Interesting that price so resilient even after financial report disclosed the potential master lease default and coupled with a steep fall in Dow. Let's watch how they going to fund the purchase of Lippo mall Puri.
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laksaman57 Supreme	13-Nov-2018 17:17        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Wonder if payment is in arrears, which prompted warning in financial report . Hope mgr can give more detail.
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laksaman57 Supreme	13-Nov-2018 09:55        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Interesting that price so resilient even after financial report disclosed the potential master lease default and coupled with a steep fall in Dow. Let's watch how they going to fund the purchase of Lippo mall Puri.
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laksaman57 Supreme	12-Nov-2018 18:51        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Latest report show gearing rised to  37.1% @ 30sept18, up from 33.7% @ 31dec17. More debt or perpetual securites or rights issuance to fund Lippo mall Puri buy ?
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LionInvestments Member	12-Nov-2018 18:32        LionInvestments About Contact  Quote this Post!
x 0   x 0  Alert Admin	Not super positive but all depends on the price. If they can buy at a low multiple of the EBITDA based on underlying rental (not based on master lease), it could be a good deal. Problem here is not so much the underlying business, but the governance: I don' t necessarily  trust the independent directors will protect the minority shareholders sufficiently to avoid overpaying for this asset, as the LK master lease issue has shown. Everybody knows that property valuation reports in Indonesia are not worth the paper they are written on...independent directors should not try to hide behind that for the fees we pay them... So I wait to see at what price they will buy the Puri mall, and how they will finance it, before stepping in...
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laksaman57 Supreme	12-Nov-2018 18:03        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	After the latest comparison, disclosed in their financial presentation, has shown between with and without LK master lease, impact on bottom line, still think it' s an opportunity to buy another mall ?  Wow super positive   " " LionInvestments      ( Date: 12-Nov-2018 17:53) Posted: In principle this should be an opportunity since there may not be many buyers for a distressed asset, but independent directors should be held accountable for supporting deals where sponsor support is hiding real level of market rents and overvaluing the asset.
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LionInvestments Member	12-Nov-2018 17:53        LionInvestments About Contact  Quote this Post!
x 0   x 0  Alert Admin	In principle this should be an opportunity since there may not be many buyers for a distressed asset, but independent directors should be held accountable for supporting deals where sponsor support is hiding real level of market rents and overvaluing the asset.
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laksaman57 Supreme	12-Nov-2018 17:37        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	" Lippo Karawaci plans to sell one of its malls to Lippo Malls Indonesia Retail Trust (LMIRT), a Singapore-listed real estate investment trust. LMIRT invests in real estate in Indonesia, primarily retail and retail-related. Lippo Karawaci is currently still waiting for approval by Singapore' s financial authority before executing the plan, Lippo Karawaci president director Ketut Budi Wijaya said on Tuesday, as quoted by Investor Daily. " We are still estimating the value of the asset, that is why we have yet to disclose the value. Nevertheless, we are certain that the sale of our asset can contribute significantly to Lippo Karawaci," Ketut said, adding that the sale will be completed by the fourth quarter of this year." https://jakartaglobe.id/business/lippo-karawacis-private-placement-will-boost-liquidity-reduce-refinancing-risk-moodys/
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alexchew Master	12-Nov-2018 16:54        alexchew About Contact  Quote this Post!
x 0   x 0  Alert Admin	if not, how to justify the selling price to the reit? Sale and leaseback in another scheme...  LionInvestments      ( Date: 12-Nov-2018 16:30) Posted: on p 16 of presentation they say LK master leases represent only 10% of Gross Revenue (the latter being $64.8 mio in Q3), hence the LK master leases contribute ~$6.5 mio per quarter. However on p 9 of presentation they say Net Property Income would  reduce pro forma ~$16.4 mio over 9 months without the  LK master leases but with direct leases  with underlying tenants. This means a reduction in NPI of ~$5.5 mio per quarter while the total LK master lease was only ~$6.5 mio per quarter, or a 84% reduction in revenue from such malls! I wonder how this is possible? Is LK subsidising these malls that much that market leases would only amount to 16% of the master lease amount????? Is there something I am missing, or a mistake in the presentation, or how is  it possible that independent directors would have  approved such an investment? It is plainly unreasonable to expect that after sponsor  support stops the market  rents can catch up by a factor 5...  laksaman57      ( Date: 11-Nov-2018 09:59) Posted: Don't need rocket science to guess the pro forma dpu. Dyod
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laksaman57 Supreme	12-Nov-2018 16:48        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	A quick guess of the pro forma dpu should wake up many. LionInvestments      ( Date: 12-Nov-2018 16:30) Posted: on p 16 of presentation they say LK master leases represent only 10% of Gross Revenue (the latter being $64.8 mio in Q3), hence the LK master leases contribute ~$6.5 mio per quarter. However on p 9 of presentation they say Net Property Income would  reduce pro forma ~$16.4 mio over 9 months without the  LK master leases but with direct leases  with underlying tenants. This means a reduction in NPI of ~$5.5 mio per quarter while the total LK master lease was only ~$6.5 mio per quarter, or a 84% reduction in revenue from such malls! I wonder how this is possible? Is LK subsidising these malls that much that market leases would only amount to 16% of the master lease amount????? Is there something I am missing, or a mistake in the presentation, or how is  it possible that independent directors would have  approved such an investment? It is plainly unreasonable to expect that after sponsor  support stops the market  rents can catch up by a factor 5...  laksaman57      ( Date: 11-Nov-2018 09:59) Posted: Don't need rocket science to guess the pro forma dpu. Dyod
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LionInvestments Member	12-Nov-2018 16:30        LionInvestments About Contact  Quote this Post!
x 0   x 0  Alert Admin	on p 16 of presentation they say LK master leases represent only 10% of Gross Revenue (the latter being $64.8 mio in Q3), hence the LK master leases contribute ~$6.5 mio per quarter. However on p 9 of presentation they say Net Property Income would  reduce pro forma ~$16.4 mio over 9 months without the  LK master leases but with direct leases  with underlying tenants. This means a reduction in NPI of ~$5.5 mio per quarter while the total LK master lease was only ~$6.5 mio per quarter, or a 84% reduction in revenue from such malls! I wonder how this is possible? Is LK subsidising these malls that much that market leases would only amount to 16% of the master lease amount????? Is there something I am missing, or a mistake in the presentation, or how is  it possible that independent directors would have  approved such an investment? It is plainly unreasonable to expect that after sponsor  support stops the market  rents can catch up by a factor 5...  laksaman57      ( Date: 11-Nov-2018 09:59) Posted: Don't need rocket science to guess the pro forma dpu. Dyodd laksaman57      ( Date: 09-Nov-2018 20:14) Posted: 9M 2018 (with Lippo Karawaci master leases) Distributable income to unitholders S$38,764,000 Pro Forma 9M 2018 (w/o Lippo Karawaci master leases but with underlying tenants) Distributable income to unitholders S$24,016,000 LESS by S$14,748,000 😰 That's a lot !
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laksaman57 Supreme	11-Nov-2018 22:54        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Sponsor in trouble .... LMIRT must be prudent in any asset buy https://www.indonesia-investments.com/news/todays-headlines/moody-s-may-cut-credit-rating-of-property-firm-lippo-karawaci/item8725?   laksaman57      ( Date: 11-Nov-2018 22:43) Posted: Hope Lippo Mall Trust don' t buy Lippo Mall Puri just to help Lippo Karawaci to clear their asset. lingua101      ( Date: 11-Nov-2018 21:01) Posted: Omg. why lippo karrawaci default? It belongs to same mgt right. Is it how the owner trying to rob us
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laksaman57 Supreme	11-Nov-2018 22:43        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hope Lippo Mall Trust don' t buy Lippo Mall Puri just to help Lippo Karawaci to clear their asset. lingua101      ( Date: 11-Nov-2018 21:01) Posted: Omg. why lippo karrawaci default? It belongs to same mgt right. Is it how the owner trying to rob us? laksaman57      ( Date: 11-Nov-2018 10:11) Posted: Factored into 2Q dpu of 0.59cts but latest 3Q dpu fell further to 0.49cts. And on top of that, report warned of possible Lippp Karawaci default with indicative negative pro forma 9M distributable income impact. Dyod
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lingua101 Veteran	11-Nov-2018 21:01        lingua101 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Omg. why lippo karrawaci default? It belongs to same mgt right. Is it how the owner trying to rob us? laksaman57      ( Date: 11-Nov-2018 10:11) Posted: Factored into 2Q dpu of 0.59cts but latest 3Q dpu fell further to 0.49cts. And on top of that, report warned of possible Lippp Karawaci default with indicative negative pro forma 9M distributable income impact. Dyodd lingua101      ( Date: 11-Nov-2018 00:53) Posted: I thought this has been factored in in the price for a while
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laksaman57 Supreme	11-Nov-2018 17:03        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	LMIRT to buy ? Is the mall new, thus not stable or matured, thus stable ? laksaman57      ( Date: 11-Nov-2018 16:33) Posted: https://asia.nikkei.com/Business/Companies/Lippo-Karawaci-hits-out-at-Fitch-rating-downgrade "It said in total it would raise more than 6 trillion rupiah including the upcoming sale of Lippo Mall Puri, a shopping mall in West Jakarta, ...."
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laksaman57 Supreme	11-Nov-2018 16:33        laksaman57 About Contact  Quote this Post!
x 0   x 0  Alert Admin	https://asia.nikkei.com/Business/Companies/Lippo-Karawaci-hits-out-at-Fitch-rating-downgrade "It said in total it would raise more than 6 trillion rupiah including the upcoming sale of Lippo Mall Puri, a shopping mall in West Jakarta, ...."
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