The latest acquisitions of Pejaten Village and Binjai Supermall will further reduce DPU. Of so many REITs I am vested in, LMIR is one which has constantly disappointed in more ways than one. The management has listed the advantages of acquiring these malls and they sound like a rehash from their equally distasteful purchase of 4 malls recently: 1. Acquisitions are at a discount to NAV. 2. Enhance earnings of the Trust. 3. Properties are of good quality. 4. Increase economies of scale in operation and marketing. 5. Minimise concentration risk. The price tag for the purchase of the two malls: $126.5m NPI of the two malls: $7.0m NPI yield: 5.53% Just like its recent purchase of 4 malls, these acquisitions are not NPI yield accretive. NPI yield of the REIT's portfolio is being gradually diluted with these overpriced purchases. It does not matter that purchases are at a discount to ......