LMIRT's NPI falls 6.5% YoY to $28.6m in 9M on higher operating expenses

In 9M 2023, LMIRT recorded an NPI of $30.6m.

Lippo Malls Indo Retail Trust’s (LMIRT) net property income (NPI) declined by 6.5% YoY to $28.6m in 9M 2024 amidst higher property operating expenses.

In 9M 2023, LMIRT recorded a NPI of $30.6m.

The company’s gross revenue also dropped, declining by 4% YoY to $48m.

LMIRT attributed the decline in its gross revenue to a 5.0% YoY depreciation of the Singapore Dollar against the Indonesian Rupiah (IDR).

Meanwhile, the trust had higher rental reversions of 7.9% year-to-date and improved portfolio occupancy of 80.1%.

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