OUE Lippo expects H1 loss

COVID-19 made an impact on its equity-accounted investees.

OUE Lippo Healthcare released its H1 profit guidance, projecting that the firm will witness a net loss, an SGX filing revealed. The report was based on preliminary assessment of the firm’s unaudited financial results to date.

OUE Lippo is expecting a 40% - 50% decline in the available distribution income to unitholders compared to the same period last year.

Distribution per unit (DPU) is also projected to drop at the same rate, whilst total return after tax could crash by 50% - 60%.

In the same vein, OUE Lippo's associated company First REIT also issued a profit guidance announcement for its H1 results and announced that they’re extending two months of rental relief to all tenants.