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Lippo Malls Indonesia Retail Trust

DB:3HJ
Snowflake Description

Fair value with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
3HJ
DB
SGD651M
Market Cap
  1. Home
  2. DE
  3. Real Estate
Company description

LMIR Trust is a Singapore-based real estate investment trust established with the principal investment objective of owning and investing, on a long-term basis, in a diversified portfolio of income-producing real estate in Indonesia that are primarily used for retail and/or retail-related purposes. The last earnings update was 56 days ago. More info.


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3HJ Share Price and Events
7 Day Returns
5.4%
DB:3HJ
1.2%
DE REITs
0.3%
DE Market
1 Year Returns
-27.1%
DB:3HJ
11.8%
DE REITs
-11.7%
DE Market
3HJ Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Lippo Malls Indonesia Retail Trust (3HJ) 5.4% 10.5% 18.1% -27.1% -34.8% -39.4%
DE REITs 1.2% 1.8% 7% 11.8% 4.7% 12.4%
DE Market 0.3% -2.3% -1.1% -11.7% 12.2% 6.1%
1 Year Return vs Industry and Market
  • 3HJ underperformed the REITs industry which returned 11.8% over the past year.
  • 3HJ underperformed the Market in Germany which returned -11.7% over the past year.
Price Volatility
3HJ
Industry
5yr Volatility vs Market

3HJ Value

 Is Lippo Malls Indonesia Retail Trust undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Lippo Malls Indonesia Retail Trust to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Lippo Malls Indonesia Retail Trust.

DB:3HJ Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 5.9%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:3HJ
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.5
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.499 (1 + (1- 17%) (104.04%))
0.952
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.95
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.952 * 5.96%)
5.9%

Discounted Cash Flow Calculation for DB:3HJ using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Lippo Malls Indonesia Retail Trust is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:3HJ DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (SGD, Millions) Source Present Value
Discounted (@ 5.9%)
2019 120.07 Est @ -9.53% 113.38
2020 112.14 Est @ -6.6% 99.98
2021 107.03 Est @ -4.55% 90.11
2022 103.70 Est @ -3.12% 82.43
2023 101.50 Est @ -2.12% 76.19
2024 100.07 Est @ -1.41% 70.93
2025 99.15 Est @ -0.92% 66.36
2026 98.58 Est @ -0.58% 62.29
2027 98.25 Est @ -0.33% 58.62
2028 98.08 Est @ -0.17% 55.26
Present value of next 10 years cash flows SGD775.56
DB:3HJ DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= SGD98.08 × (1 + 0.23%) ÷ (5.9% – 0.23%)
SGD1,731.76
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= SGD1,731.76 ÷ (1 + 5.9%)10
SGD975.73
DB:3HJ Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= SGD775.56 + SGD975.73
SGD1,751.29
Equity Value per Share
(SGD)
= Total value / Shares Outstanding
= SGD1,751.29 / 2,894.90
SGD0.37
DB:3HJ Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:3HJ represents 0.60889x of SGX:D5IU
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.60889x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (SGD) x Listing Adjustment Factor
= SGD 0.37 x 0.60889
€0.22
Value per share (EUR) From above. €0.22
Current discount Discount to share price of €0.14
= -1 x (€0.14 - €0.22) / €0.22
38.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Lippo Malls Indonesia Retail Trust is available for.
Intrinsic value
39%
Share price is €0.137 vs Future cash flow value of €0.22428
Current Discount Checks
For Lippo Malls Indonesia Retail Trust to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Lippo Malls Indonesia Retail Trust's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Lippo Malls Indonesia Retail Trust's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Lippo Malls Indonesia Retail Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Lippo Malls Indonesia Retail Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:3HJ PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in SGD SGD0.01
SGX:D5IU Share Price ** SGX (2019-06-17) in SGD SGD0.23
Germany REITs Industry PE Ratio Median Figure of 5 Publicly-Listed REITs Companies 12.62x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.7x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Lippo Malls Indonesia Retail Trust.

DB:3HJ PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SGX:D5IU Share Price ÷ EPS (both in SGD)

= 0.23 ÷ 0.01

15.01x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Lippo Malls Indonesia Retail Trust is overvalued based on earnings compared to the DE REITs industry average.
  • Lippo Malls Indonesia Retail Trust is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Lippo Malls Indonesia Retail Trust's expected growth come at a high price?
Raw Data
DB:3HJ PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.01x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
24.7%per year
Europe REITs Industry PEG Ratio Median Figure of 61 Publicly-Listed REITs Companies 0.65x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Lippo Malls Indonesia Retail Trust, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Lippo Malls Indonesia Retail Trust's assets?
Raw Data
DB:3HJ PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in SGD SGD0.38
SGX:D5IU Share Price * SGX (2019-06-17) in SGD SGD0.23
Germany REITs Industry PB Ratio Median Figure of 5 Publicly-Listed REITs Companies 1.34x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.76x
DB:3HJ PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SGX:D5IU Share Price ÷ Book Value per Share (both in SGD)

= 0.23 ÷ 0.38

0.58x

* Primary Listing of Lippo Malls Indonesia Retail Trust.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Lippo Malls Indonesia Retail Trust is good value based on assets compared to the DE REITs industry average.
X
Value checks
We assess Lippo Malls Indonesia Retail Trust's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Lippo Malls Indonesia Retail Trust has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

3HJ Future Performance

 How is Lippo Malls Indonesia Retail Trust expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Lippo Malls Indonesia Retail Trust, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
24.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Lippo Malls Indonesia Retail Trust expected to grow at an attractive rate?
  • Lippo Malls Indonesia Retail Trust's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Lippo Malls Indonesia Retail Trust's earnings growth is expected to exceed the Germany market average.
  • Unable to compare Lippo Malls Indonesia Retail Trust's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
DB:3HJ Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:3HJ Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 24.7%
Germany REITs Industry Earnings Growth Rate Market Cap Weighted Average -5.3%
Europe REITs Industry Revenue Growth Rate Market Cap Weighted Average 2.5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:3HJ Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in SGD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:3HJ Future Estimates Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
DB:3HJ Past Financials Data
Date (Data in SGD Millions) Revenue Cash Flow Net Income *
2019-03-31 247 138 43
2018-12-31 230 142 43
2018-09-30 216 138 31
2018-06-30 201 154 38
2018-03-31 198 156 44
2017-12-31 197 141 49
2017-09-30 197 133 31
2017-06-30 194 134 31
2017-03-31 191 129 32
2016-12-31 188 132 26
2016-09-30 184 151 29
2016-06-30 181 138 30

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Lippo Malls Indonesia Retail Trust's earnings are expected to grow significantly at over 20% yearly.
  • Unable to determine if Lippo Malls Indonesia Retail Trust is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:3HJ Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Lippo Malls Indonesia Retail Trust Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:3HJ Future Estimates Data
Date (Data in SGD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
DB:3HJ Past Financials Data
Date (Data in SGD Millions) EPS *
2019-03-31 0.01
2018-12-31 0.02
2018-09-30 0.01
2018-06-30 0.01
2018-03-31 0.02
2017-12-31 0.02
2017-09-30 0.01
2017-06-30 0.01
2017-03-31 0.01
2016-12-31 0.01
2016-09-30 0.01
2016-06-30 0.01

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Lippo Malls Indonesia Retail Trust will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Lippo Malls Indonesia Retail Trust's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Lippo Malls Indonesia Retail Trust has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

3HJ Past Performance

  How has Lippo Malls Indonesia Retail Trust performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Lippo Malls Indonesia Retail Trust's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Lippo Malls Indonesia Retail Trust's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Lippo Malls Indonesia Retail Trust's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Lippo Malls Indonesia Retail Trust's 1-year earnings growth is negative, it can't be compared to the DE REITs industry average.
Earnings and Revenue History
Lippo Malls Indonesia Retail Trust's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Lippo Malls Indonesia Retail Trust Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:3HJ Past Revenue, Cash Flow and Net Income Data
Date (Data in SGD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 247.09 42.74 0.67
2018-12-31 230.30 43.21 0.46
2018-09-30 215.90 30.64 -0.04
2018-06-30 200.68 37.72 0.63
2018-03-31 197.91 44.27 0.53
2017-12-31 197.38 48.66 0.42
2017-09-30 196.78 31.07 1.42
2017-06-30 194.21 31.09 0.77
2017-03-31 191.13 31.51 0.30
2016-12-31 188.07 26.26 0.33
2016-09-30 184.00 28.63 -0.20
2016-06-30 181.11 30.36 0.11
2016-03-31 176.56 27.44 0.07
2015-12-31 173.00 26.45 0.34
2015-09-30 164.38 69.16 1.18
2015-06-30 153.51 65.79 0.79
2015-03-31 145.29 66.45 0.66
2014-12-31 136.99 63.82 0.30
2014-09-30 134.87 49.51 0.20
2014-06-30 140.56 58.72 0.19
2014-03-31 146.90 62.50 0.23
2013-12-31 152.60 70.44 0.32
2013-09-30 153.50 154.69 0.46
2013-06-30 148.84 151.68 0.40
2013-03-31 144.18 149.55 0.32
2012-12-31 150.37 148.57 0.30
2012-09-30 152.50 106.66 0.49
2012-06-30 151.50 101.24 0.49

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Lippo Malls Indonesia Retail Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Lippo Malls Indonesia Retail Trust used its assets less efficiently than the DE REITs industry average last year based on Return on Assets.
  • Lippo Malls Indonesia Retail Trust has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Lippo Malls Indonesia Retail Trust's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Lippo Malls Indonesia Retail Trust has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

3HJ Health

 How is Lippo Malls Indonesia Retail Trust's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Lippo Malls Indonesia Retail Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Lippo Malls Indonesia Retail Trust's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Lippo Malls Indonesia Retail Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Lippo Malls Indonesia Retail Trust's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Lippo Malls Indonesia Retail Trust Company Filings, last reported 2 months ago.

DB:3HJ Past Debt and Equity Data
Date (Data in SGD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 1,113.79 677.65 74.66
2018-12-31 1,079.21 677.14 52.68
2018-09-30 1,044.59 731.67 99.24
2018-06-30 1,113.10 725.85 96.67
2018-03-31 1,113.04 700.07 78.29
2017-12-31 1,167.93 690.47 64.90
2017-09-30 1,258.15 573.61 74.92
2017-06-30 1,297.41 642.70 149.62
2017-03-31 1,193.23 641.77 67.85
2016-12-31 1,232.56 643.09 77.75
2016-09-30 1,237.19 684.26 213.88
2016-06-30 1,061.25 687.58 75.16
2016-03-31 1,062.08 686.15 82.15
2015-12-31 1,075.12 689.01 80.59
2015-09-30 1,042.11 687.91 79.76
2015-06-30 1,068.55 688.59 158.99
2015-03-31 1,132.94 623.43 100.02
2014-12-31 1,149.73 624.36 103.92
2014-09-30 1,021.11 470.59 223.47
2014-06-30 1,015.59 469.84 222.92
2014-03-31 1,109.79 470.55 227.19
2013-12-31 1,009.55 616.23 370.71
2013-09-30 996.38 464.26 127.64
2013-06-30 1,245.72 462.88 142.93
2013-03-31 1,240.67 461.53 134.36
2012-12-31 1,230.90 462.73 139.41
2012-09-30 1,153.77 387.23 347.34
2012-06-30 1,215.53 147.50 110.66
  • Lippo Malls Indonesia Retail Trust's level of debt (60.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (42.4% vs 60.8% today).
  • Debt is well covered by operating cash flow (20.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 4.1x coverage).
X
Financial health checks
We assess Lippo Malls Indonesia Retail Trust's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Lippo Malls Indonesia Retail Trust has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

3HJ Dividends

 What is Lippo Malls Indonesia Retail Trust's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
9.11%
Current annual income from Lippo Malls Indonesia Retail Trust dividends.
If you bought €2,000 of Lippo Malls Indonesia Retail Trust shares you are expected to receive €182 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Lippo Malls Indonesia Retail Trust's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • Lippo Malls Indonesia Retail Trust's dividend is above the markets top 25% of dividend payers in Germany (3.91%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:3HJ Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Germany REITs Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 3.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:3HJ Future Dividends Estimate Data
Date (Data in SGD) Dividend per Share (annual) Avg. No. Analysts
DB:3HJ Past Annualized Dividends Data
Date (Data in SGD) Dividend per share (annual) Avg. Yield (%)
2019-02-22 0.021 9.908
2018-02-13 0.034 12.612
2017-08-03 0.036 8.487
2017-05-04 0.036 8.184
2017-03-31 0.034 8.371
2017-02-15 0.034 8.721
2016-04-01 0.031 8.561
2016-02-23 0.031 9.761
2015-04-09 0.028 8.330
2015-02-11 0.028 7.919
2014-04-23 0.033 8.453
2014-02-13 0.033 8.129
2013-04-10 0.030 6.472
2013-02-07 0.030 5.726
2012-04-30 0.028 6.271
2012-04-10 0.039 9.205
2012-02-16 0.039 9.663
2011-11-03 0.042 11.374
2011-08-04 0.044 8.165
2011-04-28 0.047 8.069
2011-03-21 0.044 8.093
2011-02-16 0.044 8.238
2010-04-09 0.050 10.037
2010-02-09 0.050 10.322
2009-11-04 0.049 9.905
2009-08-03 0.052 11.186

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Lippo Malls Indonesia Retail Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Lippo Malls Indonesia Retail Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Lippo Malls Indonesia Retail Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Lippo Malls Indonesia Retail Trust has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

3HJ Management

 What is the CEO of Lippo Malls Indonesia Retail Trust's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
James Liew
TENURE AS CEO 0.1 years
CEO Bio

Mr. Chee Seng Liew, also known as James, serves as Chief Executive Officer at Lippo Malls Indonesia Retail Trust since May 2019. He was Deputy Chief Executive Officer of LMIRT Management Ltd, manager of Lippo Malls Indonesia Retail Trust since October 5, 2018 until May 2019. He was Chief Operating Officer of LMIRT Management Ltd Manager of Lippo Malls Indonesia Retail Trust since June 12, 2018. Mr. Liew is responsible for the overall operations management of LMIR Trust and the Manager. From September 2015 to May 2018 Lippo Group, Indonesia Senior Director, Corporate Finance and Asset Enhancement; July 2007 to May 2015 Raiffeisen Bank International AG Singapore Branch Deputy Head, Strategic Business Development - Corporate Banking and Head of Investment Book

CEO Compensation
  • Insufficient data for James to compare compensation growth.
  • Insufficient data for James to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure of the Lippo Malls Indonesia Retail Trust management team in years:

1.4
Average Tenure
  • The average tenure for the Lippo Malls Indonesia Retail Trust management team is less than 2 years, this suggests a new team.
Management Team

James Liew

TITLE
Chief Executive Officer
TENURE
0.1 yrs

Han Wong

TITLE
Chief Financial Officer - LMIRT Management Ltd
AGE
43
TENURE
1.9 yrs

Christina Lee

TITLE
Director of Legal & Compliance - LMIRT Management Ltd
TENURE
1.4 yrs

Gouw Viven Sitiabudi

TITLE
Executive Director
AGE
62
TENURE
0.4 yrs

Shao Heng

TITLE
Director of Asset Management & Business Development - LMIRT Management Ltd
TENURE
1.4 yrs

Victor Lai

TITLE
Company Secretary of LMIRT Management Ltd
TENURE
2.1 yrs

Ella Jia

TITLE
Financial Controller of LMIRT Management Ltd
TENURE
0.4 yrs
Board of Directors Tenure

Average tenure and age of the Lippo Malls Indonesia Retail Trust board of directors in years:

1.8
Average Tenure
67
Average Age
  • The average tenure for the Lippo Malls Indonesia Retail Trust board of directors is less than 3 years, this suggests a new board.
Board of Directors

Ketut Wijaya

TITLE
Chairman of the Board - LMIRT Management Ltd
COMPENSATION
SGD126K
AGE
62
TENURE
1.8 yrs

Gouw Viven Sitiabudi

TITLE
Executive Director
AGE
62
TENURE
0.7 yrs

Douglas Chew

TITLE
Lead Independent Director - LMIRT Management Ltd
COMPENSATION
SGD81K
AGE
67
TENURE
1.8 yrs

Phillip Lee

TITLE
Independent Director - LMIRT Management Ltd
COMPENSATION
SGD85K
AGE
76
TENURE
7.8 yrs

Tiam Goh

TITLE
Independent Director - LMIRT Management Ltd
COMPENSATION
SGD76K
AGE
72
TENURE
7.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
21. Jan 19 Buy PT Lippo Karawaci Tbk Company 17. Jan 19 17. Jan 19 157,296,347 €0.14 €21,386,972
17. Jan 19 Sell LMIRT Management Ltd. Company 17. Jan 19 17. Jan 19 -157,296,347 €0.14 €-21,386,972
X
Management checks
We assess Lippo Malls Indonesia Retail Trust's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Lippo Malls Indonesia Retail Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

3HJ News

Simply Wall St News

3HJ Company Info

Description

LMIR Trust is a Singapore-based real estate investment trust established with the principal investment objective of owning and investing, on a long-term basis, in a diversified portfolio of income-producing real estate in Indonesia that are primarily used for retail and/or retail-related purposes. LMIR Trust’s current asset portfolio comprises 23 retail malls (“Retail Malls”) and seven retail spaces located within other retail malls (“Retail Spaces”, and collectively with the Retail Malls, the “Properties”). The Properties have a total net lettable area of 910,749 square metres and total valuation of Rp19,514.1 billion as at 31 December 2018, and are strategically located in major cities of Indonesia with large middle-income population. Tenants include leading names such as Matahari Department Store, Zara, M&S, H&M, Sogo, Giant, Hypermart, Carrefour, Ace Hardware, as well as international specialty tenants such as Victoria’s Secret, Promod, McDonalds, Pizza Hut, Kentucky Fried Chicken, A&W, Fitness First and Starbucks.

Details
Name: Lippo Malls Indonesia Retail Trust
3HJ
Exchange: DB
Founded: 2007
SGD423,026,908
2,894,902,627
Website: http://www.lmir-trust.com
Address: Lippo Malls Indonesia Retail Trust
50 Collyer Quay,
No 06-07 OUE Bayfront,
Singapore,
49321,
Singapore
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SGX D5IU Units Singapore Exchange SG SGD 19. Nov 2007
OTCPK LPMD.F Units Pink Sheets LLC US USD 19. Nov 2007
DB 3HJ Units Deutsche Boerse AG DE EUR 19. Nov 2007
Number of employees
Current staff
Staff numbers
0
Lippo Malls Indonesia Retail Trust employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/17 21:02
End of day share price update: 2019/06/17 00:00
Last estimates confirmation: 2019/02/22
Last earnings filing: 2019/04/22
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.