Asked by Anonymous
Asked on 23 Feb 2019
According to LMIRT's earnings report, NPI declined by 10.5% and gross revenue increased 16.4% The REIT attributed the decline in NPI to the weakening of the Indonesian rupiah, the new tax regulations implementd (10% tax on service & utility charges) as well as the increase in total operating expenses. DPU fell by 40.4% to 2.05cents SGD. Although LMIRT has taken over the mall's maintenance and operations instead of outsourcing to a third party vendor in light of the new tax regulations, it was not enough to offset the drop.