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Lippo Malls Indonesia Retail Trust (D5IU.SI)
SES - SES Delayed Price. Currency in SGD
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In fact I have invested in LMIR Trust for many years when I had a total buy-in into the portfolio and management. So, I just left the investment as my long term hold and only curiously asked my accountant recently.
She told me there was a change of management (I think the previous CEO's name is Cheng) since 2018, and the unit price has taken a sky dive (by about 85%) to SGD 0.05 today !!!!!
Lippo Malls Indonesia LPMDF Is akin to Starwood It owns and is the main Real Estate company
of all Indonesia Convenience stores , Malls etc
why the price is going down?
The rights issue will have increased cash for the company significantly. As things recover earnings will be coming back and so will be the dividends. The dividends used to be $0.01 to $0.02 a share and getting the shares now will be a bargain, assuming those kinds of dividends come back.
Lippo Mall Trust Management and the manager of the Lippo malls are equally incompetent and thus the recent sell off. The investors are no longer concerned with the pandemic and the necessary lockdowns, since the world has got used to these, and yet the management of LMIR Trust is still trying to hide behind these excuses. The fact is that they do not know what will happend and how to recover after the pandemic issues are resolved (or eased). So, the saving gace is probably for the Sponsor (or another developer) to buy over the portfolio at a discount of NAV.
Meanwhile, one thing is for sure, no one (except from those "friendly" with the Sponsor) should ever vote for another acquisition. Instead, every other unitholder should vote against any form of acquisition until the unit price recover by at least SGD0.12.
New valuation of property on 31/7/2020 compare with 31/12/2019 was down by 13.4%, but stock price comparison is down by 48%. No doubt stock price is cheap now, suitable for Indonesia Local and International consortium investment. Rupiah to Sing Dollar also is at historical low of 1 to 10,759, so risk are quit low to invest into this stock.
pls what is this
nice.. cheap- more volume!!!
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