Lippo Malls Indonesia Retail Trust (SGX:D5IU) posted a lower net property income of SG$28.6 million in the third quarter of the year, compared with SG$30.6 million in the year-ago period, according to a filing with the Singapore Exchange on Wednesday.
Gross revenue was down 4% year over year to SG$48.0 million from SG$49.8 million in the comparable period as rental revenue slid during the period.
Meanwhile, portfolio occupancy grew to 80.1% from 79.9% in the previous quarter while the trust posted a rental reversion of 7.9% year-to-date.
Shares of the trust were down over 4% in recent trading.
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