Lippo Malls Indonesia Trust

Lippo Malls Indonesia Trust (LMIR): Raised $100m via a private placement at $0.405/unit, 5.8% discount to its last close and 10% discount to its NAV of $0.45. Management said proceeds could be used to finance asset enhancements, acquisitions or to pay down debt. StanChart expects LMIR's leverage to rise to 30% post-acquisitions from 28% as of 30 Sep 2013, in line with management's target. Lippo Mall trades at an 8.2% 2014E yield and 0.95x P/NAV, offers investors a high-yield exposure to Indonesian consumption. Latest broker ratings: StanChart maintains Outperform and raised TP to $0.48 (from $0.46)