The unfolding COVID-19 has claimed the first S-Reit casualty in Eagle Hospitality Trust. Which will be the next one? In view of the plunging Lippo Malls share price over the course of last month, investors must be living in fear. Looking back, Lippo Malls share price was actually cruising along finely in 2019 with the strengthening of Indonesian rupiah until COVID-19 came along to mess things up.
Year-to-date, Lippo Malls share price plummeted by a whopping 52%, making it one of the worst SGX stocks to own. Apart from COVID-19, what could be the other dark forces behind the meltdown of Lippo Malls share price? In my view, besides macro factors, it is also important to pay attention to the business fundamentals because that will shape Lippo Malls share price even in the midst of market chaos.
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