Sale of Lippo Malls properties good for shareholders?

It was reported recently that Lippo Malls Tr (D5IU.SI) sold 2 shopping malls (

In fact there were 3 other Lippo Malls properties sold that were owned by their sponsor ( In my opinion, these sale is good for bondholders of Lippo Malls as theirs and their sponsor’s debts are reduced.

But is the sale of Lippo Malls properties good for shareholders?

Look at Page 6 of

Both DPU and NAV per unit is lower after this sale. This sale is not good for shareholders.

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