Announcement Relating to Impact on LMIR Trust Mall Due to Earthquake in Lombok
Lippo Malls Indonesia Retail Trust ("LMIR Trust") announced that there is no major impact to Lippo Mall Kuta (“LMK”) which is part of LMIR Trust’s portfolio, following local media reports that several buildings in Bali were damaged from a 6.9 magnitude earthquake which struck Lombok Island, Indonesia yesterday.
LMK’s operation team carried out intensive inspection of the building after the quake. Minor crack lines were found in the basement and parking areas but these cracks do not affect the integrity of the mall’s structure. The mall operation team has commenced repair works on these areas. The mall is covered by appropriate insurance against earthquake damage. It is currently business as usual there.
Large-scale social restriction in Jakarta
till 27 September 2020 (which may be further extended)
Pursuant to the PSBB, LMIR Trust’s seven retail malls located within Jakarta, namely Cibubur Junction, Gajah Mada Plaza, Lippo Mall Kemang, Lippo Plaza Kramat Jati, Plaza Semanggi, Pluit Village and Tamini Square will remain operational with an unchanged visitor capacity limit of 50%.
Lippo Mall Puri in West Jakarta, which the Manager announced its intention to acquire, also remains operational. Entertainment centres, such as cinemas, kids’ entertainment outlets and fitness centres remained closed, while restaurants and cafes are not permitted to offer dine-in services but can continue to offer delivery or take-away meals.
LMIR Trust’s remaining 14 retail malls located outside Jakarta are not subject to the dining-in restrictions and continue to operate with social distancing measures.
https://links.sgx.com/FileOpen/20200915_...eID=631619
Stay home and stay safe, everyone.
A deeply discounted rights issue. If there was actually a need to buy distressed shopping malls in Indonesia, one would probably get more of a discount than the current revaluation (3700bil before Covid-19 to 3500bil after Covid-19). It reminds me of what the principals of the sponsor for Eagle Hospitality boasted, in their marketing pitch to their own investors - "profitable exit via a captive buyer"
UPDATE ON THE ACQUISITION OF STRATA TITLE UNITS OF LIPPO MALL PURI – THE RIGHTS ISSUE
The Manager proposes to raise gross proceeds of approximately S$280.0 million through the Rights Issue. Based on an indicative issue price of S$0.060 per Rights Unit, the Manager currently expects to issue 4,682,872,029 Rights Units (which is equivalent to approximately 160% of the 2,926,795,018 Units in issue as at 18 September 2020) by way of a nonunderwritten renounceable rights issue to Unitholders with Units
https://links.sgx.com/FileOpen/Platinum_...eID=632220
after COVID that hammered down unit price 50% these people decide a super diluting rights issue that will further halve it.
Final straw , I'm done with Singapore sharks , enjoy your fine city
(20-09-2020, 01:59 AM)Gaudente Wrote: [ -> ]after COVID that hammered down unit price 50% these people decide a super diluting rights issue that will further halve it.
Final straw , I'm done with Singapore sharks , enjoy your fine city
To be fair, thats an Indonesia shark in Singapore clothes.
I think there’s been ample warning of sharks in the water. And yeah it’s not local.
Especially after their main business is under threat.
(16-01-2015, 10:49 AM)specuvestor Wrote: [ -> ]^^ i concur with Dividend Hermit. Lippo reputation precedes them. I've learnt to discipline myself over the decade that there are certain stocks i am not smart enough to touch and emotionally indifferent even if it jumps 10-folds
And from First REIT thread:
https://www.valuebuddies.com/thread-24-p...#pid154730
(20-09-2020, 09:21 PM)level13 Wrote: [ -> ] (20-09-2020, 01:59 AM)Gaudente Wrote: [ -> ]after COVID that hammered down unit price 50% these people decide a super diluting rights issue that will further halve it.
Final straw , I'm done with Singapore sharks , enjoy your fine city
To be fair, thats an Indonesia shark in Singapore clothes.
but that's the problem , Singapore financial markets is a pool full of sharks from all over the world , looks like you invite them