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Lippo Malls Indonesia posts 5.9% growth in Q2 distribution

Lippo Malls Indonesia Retail Trust declared a dividend per unit, or DPU, of 0.90 Singaporean cents for the three-month period ended June 30, logging an increase of 5.9% year over year.

The distribution marks an annualized DPU yield of 7.9% over the company's closing price of 44.5 cents as at June-end.

The DPU was lifted by the contribution from Lippo Mall Kuta in Bali, Indonesia, which was acquired for 800 billion Indonesian rupiah in December 2016.

Meanwhile, Lippo Mall's distributable income to unit holders rose 7.5% year over year to S$50.5 million during the first half.

As of Aug. 3, US$1 was equivalent to S$1.36 and 13,326.00 Indonesian rupiah.