Investor Relations


Financial Information

Financial Results
Print This Email This

2017 THIRD QUARTER UNAUDITED FINANCIAL STATEMENTS AND DISTRIBUTION ANNOUNCEMENT

Get Adobe Reader Note: Files are in Adobe (PDF) format.
Please download the free Adobe Acrobat Reader to view these documents.

Profit & Loss

Balance Sheet

Review of Performance

3Q 2017 vs 3Q 2016

Gross rental income is S$2.9 million higher than 3Q 2016, mainly due to the acquisition of Kuta, Kendari and positive rental reversions.

Other revenue is S$0.4 million lower than 3Q 2016, mainly due to the new carpark contract arrangements, whereby the carpark operator absorbs all the carpark operating costs and is entitled to a portion of the parking revenue.

The decrease in financial expenses of S$2.8 million is mainly due to S$150 million Bond and S$50 million Bond repaid in October 2016 and July 2017 respectively, which were replaced by perpetual securities and accounted for in the Statement of Changes in Unitholders' Funds.

Other losses (net) mainly comprise of realised and unrealised foreign currency gains/ (losses), realised and unrealised hedging contracts gains/ (losses), as well as amortisation of intangble assets in relation to LMK, LPB, PICON, Kuta and Kendari.

YTD 2017 vs YTD 2016

Gross rental income is S$10.7 million higher than YTD 2016, mainly due to the acquisition of Kuta, Kendari and positive rental reversions.

Other revenue is S$2.0 million lower than YTD 2016, mainly due to the new carpark contract arrangements, whereby the carpark operator absorbs all the carpark operating costs and is entitled to a portion of the parking revenue.

The decrease in financial expenses of S$3.9 million is mainly due to S$150 million Bond and S$50 million Bond repaid in October 2016 and July 2017 respectively, which were replaced by perpetual securities and accounted for in the Statement of Changes in Unitholders' Funds.

Other losses (net) mainly comprise of realised and unrealised foreign currency gains/ (losses), realised and unrealised hedging contracts gains/ (losses), as well as amortisation of intangble assets in relation to LMK, LPB, PICON, Kuta and Kendari.

The Trust has foreign currency options contracts to mitigate its exposure on currency movement as the majority of the Trust's income is in IDR. The unrealised gain/ loss on foreign currency options contracts is a non-cash item and does not affect the amount of distribution to unitholders.

Commentary

The Indonesian economy expanded 5.01% year-on-year ("y-o-y") in the second quarter of 2017, the same pace recorded in the preceding quarter. Growth was driven by private consumption and fixed investment while exports rose at a slower pace and government spending fell.

On the inflation front, Indonesia's annual inflation rate for September 2017 eased to 3.72% from 4.37% in June 2017, its fourth consecutive month of decline and the lowest since March 2017 on the back of a continued decline in food prices.

According to Bank Indonesia data, retail sales in Indonesia rose 2.2% y-o-y in August 2017, buoyed by stronger food sales in the period.

Copyright 2017 © Lippo Malls Indonesia Retail Trust | Privacy Policy