One - Lippo Malls Indonesia Retail Trust - Investor Relations

21CEO’s ReportISTANA PLAZALocated in the CBD of Bandung at the junction of two busy roads.LocationJl. Pasir Kaliki No 121-123, Bandung, West JavaAppraised Value S$95.9 mGross Floor Area 37,434 sqmNet Lettable Area 27,535 sqmOccupancy Rate 97.1%No. of Tenants 216 tenantsWebsitewww.istanaplaza.co.idOPERATIONAL HIGHLIGHTSPT Rimo Catur Lestari Tbk – an anchor tenant, terminated its leaseprematurely in August 2009 but was replaced by Matahari DepartmentStore which commenced operations in December 2009.The old ice skating rink was removed to make way for 684 sqm of retailspace. The existing food court was also extended to house more operatorsand seating capacity. The new rentals were IDR215,000 per sqm permonth compared to IDR61,000 per sqm per month for the old ice skatingrink. 80% of the new space is already occupied.S$95.9 millionAppraised ValueSUN PLAZAThe largest upmarket retail mall in Medan, Sumatra.S$175.4 millionAppraised ValueLocationJl Haji Zainul Arifi n No 7, Medan, North SumatraAppraised Value S$175.4 mGross Floor Area 73,871 sqmNet Lettable Area 63,296 sqmOccupancy Rate 96.5%No. of Tenants 475 tenantsWebsitewww.sunplaza-medan.comOPERATIONAL HIGHLIGHTSOccupancy remains stable at 96.5% up slightly from 96.2% in 2008. Withno AEIs undertaken in 2009, the Property Manager has concentrated onupgrading the tenancy mix and facilities in the mall to achieve an improvedmerchandise mix for shoppers. New international, national and localbrands to open stores in 2009 included Levi’s, Gelare, Roti Boy, Verde,Teddy House, Bossini, Nokia and an authorized HP dealer. Re-fi t outworks have been undertaken by a number of tenants upon lease renewal,improving the quality and ambience of the mall. At the end of 2009 a newconcept children’s playground opened by utilizing the open void at theLower Ground and Ground Floor levels which generated additional income.Traffi c remains strong as a result of intensive marketing promotions, goodtenancy mix and the modern ambience of the mall.