Covid19: LMIRT to close all malls, retail spaces in Indonesia for 2 weeks
LIPPO Malls Indonesia Retail Trust will close its entire portfolio of 23 malls and seven retail spaces in Indonesia from April 1 for a minimum of two weeks, it said in a bourse filing on Tuesday.Essential services at the properties - such as supermarkets, pharmacies and clinics - will remain open with shorter operating hours from 11am to 6pm. Tenants can also choose to continue operations that serve online delivery orders.
The manager said that while it is difficult to ascertain the full financial impact of the crisis as the situation remains uncertain, it is in compliance of its debt obligations and has adequate financial reserves to"fulfil its obligations in the foreseeable future".
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