trending Market Intelligence /marketintelligence/en/news-insights/trending/pXDnudbafYSbPLdKjIQ4gg2 content esgSubNav
In This List

Lippo Malls Indonesia security holders OK proposed change of trustee

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Lippo Malls Indonesia security holders OK proposed change of trustee

A majority of Lippo Malls Indonesia Retail Trust's security holders approved a proposal to replace the company's trustee in light of HSBC Institutional Trust Services (Singapore) Ltd. retiring from the role.

Under the resolution, upon the effectiveness of HSBC's resignation Jan. 2, 2018, Perpetual (Asia) Ltd. will take over as Lippo Malls' new trustee.

As of the Nov. 27 closing of the consent solicitation process, 91.33%, or S$68.5 million, of the trust's series 005 perpetual securities; 85.75%, or S$85.8 million, of its series 001 perpetual securities; 92.32%, or S$129.3 million, of its series 002 perpetual securities; and 86.25%, or S$103.5 million, of its series 003 perpetual securities have been tendered for the acceptance of the resolution.

The company said that based on the result of the consent solicitation process, it is expected that the proposal will be passed during a yet-to-be-scheduled meeting.

As of Nov. 27, US$1 was equivalent to S$1.35.