Lippo Malls Indonesia Retail Trust (SG:D5IU)
SGX:D5IU
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Lippo Malls Indonesia Retail
(SGX:D5IU)
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Rating:58Neutral
Price Target:
S$0.01
▲(0.00% Upside)
Action:ReiteratedDate:02/28/26
The score is mainly supported by the 2025 rebound in profitability and stronger free cash flow, plus an undemanding P/E valuation. The largest constraint is the sharply higher leverage and thinner equity cushion, which raises refinancing and downturn sensitivity; technicals are neutral due to missing indicator data.
Positive Factors
Profitability Recovery
The 2025 rebound to positive net income and materially higher gross and EBIT margins indicates operational recovery and improved unit economics. Durable margin expansion supports sustainable rental cashflows, stronger internal funding for maintenance and tenant services, and better resilience through cycles.
Negative Factors
Elevated Leverage
Leverage more than doubled year-on-year, leaving a thinner equity cushion. For a REIT, higher debt-to-equity magnifies refinancing risk and interest expense sensitivity, constraining capital flexibility and increasing vulnerability to rate moves or weaker rental cashflows in downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability Recovery
The 2025 rebound to positive net income and materially higher gross and EBIT margins indicates operational recovery and improved unit economics. Durable margin expansion supports sustainable rental cashflows, stronger internal funding for maintenance and tenant services, and better resilience through cycles.
Read all positive factors
Lippo Malls Indonesia Retail (D5IU) vs. iShares MSCI Singapore ETF (EWS)
Market Cap
S$100.21M
Dividend YieldN/A
Average Volume (3M)7.84M
Price to Earnings (P/E)2.2
Beta (1Y)0.68
Revenue Growth130.75%
EPS GrowthN/A
CountrySG
Employees16
SectorReal Estate
Sector Strength53
IndustryREIT - Retail
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding16,702,078,000
10 Day Avg. Volume15,711,376
30 Day Avg. Volume7,844,195
Financial Highlights & Ratios
PEG Ratio-0.01
Price to Book (P/B)0.18
Price to Sales (P/S)0.29
P/FCF Ratio0.90
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Lippo Malls Indonesia Retail Business Overview & Revenue Model
Company Description
Lippo Malls Indonesia Retail (D5IU) is a leading retail and property management company in Indonesia, specializing in the development and operation of shopping malls and commercial properties. The company operates a diverse portfolio of retail spa...
How the Company Makes Money
Lippo Malls Indonesia Retail generates revenue primarily through leasing retail space to various tenants, including local and international brands. The company earns rental income from its shopping malls and commercial properties, which is a signi...
Lippo Malls Indonesia Retail Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
38
Negative
Cash Flow
67
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 237.73M | 194.56M | 197.27M | 204.71M | 175.07M |
| Gross Profit | 139.96M | 115.26M | 112.82M | 130.01M | 103.77M |
| EBITDA | 120.56M | 73.56M | 107.44M | 149.27M | 53.40M |
| Net Income | 31.99M | -36.38M | -125.99M | 1.58M | -32.51M |
Balance Sheet | |||||
| Total Assets | 1.49B | 1.64B | 1.72B | 1.84B | 2.03B |
| Cash, Cash Equivalents and Short-Term Investments | 28.88M | 19.98M | 140.33M | 106.97M | 119.88M |
| Total Debt | 900.42M | 726.99M | 842.57M | 808.76M | 846.16M |
| Total Liabilities | 1.11B | 941.95M | 1.03B | 1.05B | 1.04B |
| Stockholders Equity | 377.56M | 699.99M | 690.25M | 783.76M | 987.47M |
Cash Flow | |||||
| Free Cash Flow | 77.16M | 63.86M | 99.66M | 125.79M | 22.30M |
| Operating Cash Flow | 97.53M | 86.94M | 102.66M | 137.18M | 40.10M |
| Investing Cash Flow | -20.00M | -21.81M | -13.24M | -9.74M | -365.40M |
| Financing Cash Flow | -78.84M | -73.69M | -150.79M | -131.66M | 338.11M |
Lippo Malls Indonesia Retail Technical Analysis
Negative
0.01
Price Trends
0.01
Negative
0.01
Negative
0.01
Negative
Market Momentum
<0.01
Positive
46.10
Neutral
50.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SG:D5IU, the sentiment is Negative. The current price of 0.01 is below the 20-day moving average (MA) of 0.01, below the 50-day MA of 0.01, and below the 200-day MA of 0.01, indicating a bearish trend. The MACD of <0.01 indicates Positive momentum. The RSI at 46.10 is Neutral, neither overbought nor oversold. The STOCH value of 50.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SG:D5IU.
Lippo Malls Indonesia Retail Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | S$1.24B | ― | 6.62% | 6.29% | 0.70% | 71.84% | |
70 Outperform | S$17.54B | 18.93 | 5.88% | 5.26% | 0.17% | 8.05% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
65 Neutral | S$4.44B | 22.23 | 4.49% | 5.29% | 10.82% | -5.02% | |
64 Neutral | S$803.09M | 13.50 | 6.25% | 8.87% | 5.89% | 1.81% | |
58 Neutral | S$100.21M | 2.17 | 6.06% | ― | 130.75% | ― | |
53 Neutral | S$1.14B | ― | 0.04% | 6.66% | -8.59% | -93.48% |
* Real Estate Sector Average
SG:D5IU
Lippo Malls Indonesia Retail
0.01
0.00
0.00%
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Lippo Malls Indonesia Retail Corporate Events
Lippo Malls Indonesia Retail Trust Broadens Investment Mandate Beyond Retail
Feb 25, 2026
Lippo Malls Indonesia Retail Trust, a Singapore-listed REIT, has historically concentrated on owning and managing income-producing shopping malls and retail properties across Indonesia, establishing itself as the largest Singapore-listed vehicle f...
Lippo Malls Indonesia Retail Trust Details Use of Rights Issue Proceeds
Feb 6, 2026
Lippo Malls Indonesia Retail Trust has disclosed the deployment of a significant portion of the proceeds from its recent renounceable, non-underwritten rights issue of approximately S$63.04 million. About S$34.19 million, or 54.2% of the gross pro...
Lippo Malls Indonesia Retail Trust Completes 9 Billion-Unit Rights Issue and Lists New Units on SGX
Jan 26, 2026
Lippo Malls Indonesia Retail Trust has completed the issuance of 9,005,267,676 new units through a renounceable and non-underwritten rights issue, increasing its total units on issue to 16,702,077,655. The newly issued units rank pari passu with e...
Lippo Malls Indonesia Retail Trust’s Rights Issue Heavily Oversubscribed
Jan 21, 2026
Lippo Malls Indonesia Retail Trust has announced the final results of its rights issue, reporting that the offer was significantly oversubscribed, with valid acceptances and excess applications received for approximately 121.35% of the total numbe...
Lippo Malls Indonesia Retail Trust Seeks Fresh Vote as Sponsor Ups Commitment to Rights Issue
Jan 8, 2026
At an extraordinary general meeting held on 8 December 2025 in Singapore, Lippo Malls Indonesia Retail Trust informed unitholders that its sponsor, PT Lippo Karawaci Tbk, has strengthened its commitment to the planned rights issue by providing a n...
Lippo Malls Indonesia Retail Trust Renews Property Management Agreement
Dec 14, 2025
LMIRT Management Ltd., the manager of Lippo Malls Indonesia Retail Trust, has announced a new master property management agreement with PT Lippo Malls Indonesia to continue managing its Indonesian properties for another 24 months starting from Dec...
Lippo Malls Indonesia Retail Trust Halts Distribution on Perpetual Securities
Dec 10, 2025
Lippo Malls Indonesia Retail Trust has announced that it will not pay the scheduled distribution for its S$120,000,000 Perpetual Securities issued in June 2017. This decision activates dividend stopper provisions, preventing the declaration or pay...
Lippo Malls Indonesia Retail Trust Launches S$63 Million Rights Issue
Dec 9, 2025
Lippo Malls Indonesia Retail Trust has announced a rights issue to raise approximately S$63 million by issuing new units at a significant discount to the current market price. The proceeds from this rights issue will be used to repay existing loan...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.