LMIRT's Jakarta malls remain open with 50% visitor cap during second lockdown

AS Jakarta enters a partial lockdown for the second time, Lippo Malls Indonesia Retail Trust's (LMIRT) seven malls in the city will remain operational with an unchanged visitor capacity limit of 50 per cent.

On Monday, Jakarta reimposed social restrictions for an initial two-week period till Sept 27, which may be extended, in view of the rising number of Covid-19 cases. The tightened restrictions mean that businesses, malls and houses of worship can only operate at limited capacity, while dining in at restaurants and cafes is not allowed.

Lippo Mall Puri, a West Jakarta mall which LMIRT intends to acquire, also remains operational, the trust's manager said in a filing on Tuesday.

It added that the Jakarta malls' entertainment centres, such as cinemas and fitness centres, are still closed. Restaurants and cafes can continue to offer delivery or takeaway meals, but not dine-in options.

Tenants that are not allowed to operate during this second partial lockdown will continue to receive rental waivers, the manager said.

It is also considering providing further rental support for food and beverage tenants affected by the new regulations in Jakarta.

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Outside the city, LMIRT's 14 other malls are not subject to dine-in restrictions, and they continue to operate with social-distancing measures.

As at Tuesday, the real estate investment trust remained in compliance of its debt financial covenants and had adequate reserves to fulfil its obligations, the manager noted.

Units of LMIRT fell 0.1 Singapore cent or 0.9 per cent to trade at 11.2 cents as at 9.31am on Tuesday.