Lippo Malls skips September distribution on perpetual subsidiary

Chicago, Sept. 19 – Lmirt Management Ltd., the manager of Lippo Malls Indonesia Retail Trust, notified holders of Lippo’s S$140 million perpetual securities (ISIN: SG74H8000008) issued on Sept. 27, 2026 that Perpetual (Asia) Ltd., the trustee, has elected not to pay the distribution scheduled for Sept. 27.

The distribution is non-cumulative and does not accrue, according to a notice.

With no dividend payment, the dividend stopper provisions under the securities are applicable. This means that the issuer may not make any dividend payments on the S$120 million perpetual securities issued on June 19, 2017.

According to the Prospect News archive and previously reported, the company did not make the June 19 distribution for that series.

The company may not redeem or buy back any of the 2017 perpetual securities, either.

The dividend stopper provisions are in effect until the 2016 perpetual securities are redeemed or the next scheduled distribution has been paid in full.

Lippo Malls Indonesia is a Singapore-based real estate investment trust.

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