SGX:D5IU

Stock Analysis Report

Lippo Malls Indonesia Retail Trust

Executive Summary

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.

Snowflake

Fundamentals

Good value with proven track record and pays a dividend.

Share Price & News

How has Lippo Malls Indonesia Retail Trust's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: D5IU has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

4.3%

D5IU

-2.6%

SG REITs

-0.7%

SG Market


1 Year Return

6.5%

D5IU

16.2%

SG REITs

4.7%

SG Market

Return vs Industry: D5IU underperformed the SG REITs industry which returned 16.2% over the past year.

Return vs Market: D5IU exceeded the SG Market which returned 4.7% over the past year.


Shareholder returns

D5IUIndustryMarket
7 Day4.3%-2.6%-0.7%
30 Day4.3%-3.9%2.9%
90 Day8.9%-0.5%2.6%
1 Year16.3%6.5%23.5%16.2%8.9%4.7%
3 Year-17.7%-34.7%48.4%22.5%20.8%8.0%
5 Year0.3%-33.8%54.0%10.8%11.6%-7.0%

Price Volatility Vs. Market

How volatile is Lippo Malls Indonesia Retail Trust's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Lippo Malls Indonesia Retail Trust undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: D5IU (SGD0.25) is trading below our estimate of fair value (SGD0.89)

Significantly Below Fair Value: D5IU is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: D5IU is good value based on its PE Ratio (14.3x) compared to the REITs industry average (14.3x).

PE vs Market: D5IU is poor value based on its PE Ratio (14.3x) compared to the SG market (13.1x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate D5IU's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: D5IU is good value based on its PB Ratio (0.6x) compared to the SG REITs industry average (1x).


Next Steps

Future Growth

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

10.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: D5IU's forecast earnings growth (10.4% per year) is above the savings rate (2.3%).

Earnings vs Market: D5IU's earnings (10.4% per year) are forecast to grow faster than the SG market (5.7% per year).

High Growth Earnings: D5IU's earnings are forecast to grow, but not significantly.

Revenue vs Market: Insufficient data to determine if D5IU's revenue is forecast to grow faster than the SG market.

High Growth Revenue: Insufficient data to determine if D5IU's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if D5IU's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

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

-7.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: D5IU has high quality earnings.

Growing Profit Margin: D5IU's current net profit margins (18.5%) are higher than last year (14.2%).


Past Earnings Growth Analysis

Earnings Trend: D5IU's earnings have declined by -7.8% per year over the past 5 years.

Accelerating Growth: D5IU's earnings growth over the past year (60.9%) exceeds its 5-year average (-7.8% per year).

Earnings vs Industry: D5IU earnings growth over the past year (60.9%) exceeded the REITs industry 4.6%.


Return on Equity

High ROE: D5IU's Return on Equity (5.8%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Lippo Malls Indonesia Retail Trust's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: D5IU has a high level of physical assets or inventory.

Debt Coverage by Assets: D5IU's debt is not covered by short term assets (assets are 0.2x debt).


Financial Institutions Analysis

Asset Level: D5IU's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if D5IU has a sufficient allowance for bad loans.

Low Risk Liabilities: D5IU reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if D5IU has an acceptable proportion of non-loan assets held.

Low Risk Deposits: D5IU has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if D5IU has an appropriate level of bad loans.


Next Steps

Dividend

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

8.37%

Current Dividend Yield


Dividend Yield vs Market

company8.4%marketbottom25%2.6%markettop25%5.6%industryaverage5.4%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: D5IU's dividend (8.37%) is higher than the bottom 25% of dividend payers in the SG market (2.56%).

High Dividend: D5IU's dividend (8.37%) is in the top 25% of dividend payers in the SG market (5.57%)


Stability and Growth of Payments

Stable Dividend: D5IU's dividend payments have been volatile in the past 10 years.

Growing Dividend: D5IU's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (52.1%), D5IU's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

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?

0.8yrs

Average management tenure


CEO

James Liew 0

0.5yrs

Tenure

0

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 Li ...


Management Age and Tenure

0.8yrs

Average Tenure

Experienced Management: D5IU's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.


Board Age and Tenure

5.2yrs

Average Tenure

68yo

Average Age

Experienced Board: D5IU's board of directors are considered experienced (5.2 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyS$33,032,31621 Jan 19
Lanius Ltd.
EntityCompany
Shares157,296,347
Max PriceS$0.21
SellS$33,032,31617 Jan 19
LMIRT Management Ltd.
EntityCompany
Shares157,296,347
Max PriceS$0.21

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Gouw Viven Sitiabudi (63yo)

    Executive Director

    • Tenure: 1.1yrs
  • Han Wong (44yo)

    Chief Financial Officer - LMIRT Management Ltd

    • Tenure: 2.3yrs
  • Ella Jia

    Financial Controller of LMIRT Management Ltd

    • Tenure: 0.8yrs
  • Christina Lee

    Director of Legal & Compliance - LMIRT Management Ltd

    • Tenure: 1.8yrs
  • Shao Heng

    Director of Asset Management & Business Development - LMIRT Management Ltd

    • Tenure: 1.8yrs
  • James Liew

    Chief Executive Officer

    • Tenure: 0.5yrs
  • Lay Hong Tan

    Company Secretary of LMIRT Management Ltd.

    • Tenure: 0.3yrs

Board Members

  • Phillip Lee (77yo)

    Independent Director - LMIRT Management Ltd

    • Tenure: 8.3yrs
    • Compensation: S$85.00k
  • Ketut Wijaya (63yo)

    Chairman of the Board - LMIRT Management Ltd

    • Tenure: 2.2yrs
    • Compensation: S$125.64k
  • Gouw Viven Sitiabudi (63yo)

    Executive Director

    • Tenure: 1.1yrs
  • Tiam Lock Goh (73yo)

    Independent Director - LMIRT Management Ltd

    • Tenure: 8.2yrs
    • Compensation: S$75.50k
  • Murray Bell

    Lead Independent Director of LMIRT Management Ltd.

    • Tenure: 0yrs

Company Information

Lippo Malls Indonesia Retail Trust's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Lippo Malls Indonesia Retail Trust
  • Ticker: D5IU
  • Exchange: SGX
  • Founded: 2007
  • Industry: Retail REITs
  • Sector: Real Estate
  • Market Cap: S$709.251m
  • Shares outstanding: 2.89b
  • Website: https://www.lmir-trust.com

Location

  • Lippo Malls Indonesia Retail Trust
  • 50 Collyer Quay
  • No 06-07 OUE Bayfront
  • Singapore
  • 49321
  • Singapore

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
D5IUSGX (Singapore Exchange)YesUnitsSGSGDNov 2007
3HJDB (Deutsche Boerse AG)YesUnitsDEEURNov 2007
LPMD.FOTCPK (Pink Sheets LLC)YesUnitsUSUSDNov 2007

Biography

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-producin ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/13 12:53
End of Day Share Price2019/11/13 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.