One - Lippo Malls Indonesia Retail Trust - Investor Relations

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26Lippo-Mapletree Indonesia Retail Trust Annual Report 2009CEO’s ReportPORTFOLIO INCOME & TRADE SECTOR ANALYSISLMIR Trust has a stable and well-balanced tenancy mix with no particular sector accounting for more than 23%of the total Gross Revenue (“GR”) . The chart below illustrates the tenancy mix.In terms of GR contribution analysis for malls, specialty stores make up 47% of GR while anchor tenants accountfor 21%.Breakdown by Malls’ Gross Revenue ContributionGross Revenue Breakdown by Trade SectorsAs at31 December2009As at31 December2009• Other Rental Income 6%• Anchor 21%• Specialty 47%• Foodcourt 2%• Atrium Leasing 10%• Temporary Leasing 1%• Parking 7%• Promotion 1%• Miscellaneous 5%TOP TEN TENANTSSome of the top ten tenants of our portfolio includewell-established brands such as Hypermart, MatahariDepartment Store, SOGO, Time Zone, Centro, Gramediaand Ace Hardware.• Department Store 23%• Fashion 11%• Books & Stationary 2%• Hobbies 1%• Education/School 0%• Supermarket/Hypermarket 5%• Casual & Others 23%• Sport & Fitness 2%• Toys 0%• Leisure & Entertainment 4%• Electronics/IT 2%• Gifts & Specialty 2%• Jewelry 2%• F & B/Food Court 15%• Home Furnishing 2%• Services 5%• Optics 1%Top 10 TenantsTime ZoneSolariaMillenium Exec. ClubSOGOGiant SupermarketAce HardwareGramediaCentro0.4%0.7%0.5%0.5%0.7%0.8%0.8%1.0%Hypermart3.7%Matahari Department Store 10.0% 5.0% 10.0% 15.0% 20.0% 25.0%1 Matahari Department Store (“MDS”) includes leases in both Retail Malls and Retail Spaces. Excluding the Retail Spaces, MDS share of Retail Mall portfolio grossincome is 4.8%20.1%
27CEO’s ReportASSET ENHANCEMENT INITIATIVES (AEIs)In order to maintain the dynamism of a retail mall, regulartenancy re-mixing and asset enhancement initiatives arenecessary. Not only does it enhance rental income for thelandlord, AEIs increase foot traffi c and provide a fresh outlookto shoppers. Overall, shopping experience is rejuvenatedeach time a change is introduced to the malls.The various AEIs undertaken at the malls are discussed atthe portfolio review section for the relevant malls.OPERATING COMPANIESAs outlined in the Prospectus, various OperatingCompanies (“OpCos”) signed the relevant OperatingCosts Agreements to unconditionally bear, for a periodof 3 years from 1 January 2007, all costs directly relatingto the operating and maintenance of LMIR Trust malls. Inreturn, the OpCos reserved the rights to collect statutoryincome and service charge for the respective malls. Suchagreements were applicable only to those retail mallsacquired during the LMIR Trust IPO.All the Operating Costs Agreements lapsed on31 December 2009 and therefore, the OpCos are nolonger part of the Trust Structure. From 1January 2010,LMIR Trust bears all costs relating to the operations of themalls and collects statutory income and service chargedirectly from the tenants of the malls.PORTFOLIO MARKETING AND PROMOTIONACTIVITIESThe property manager plans a series of promotional eventsand thematic programs before the beginning of each newcalendar year. Some of the programs undertaken in 2009were as follow.Sale Now OnThe “Sale Now On” promotion was a proven success in2008 across LMIR Trust’s malls and it was repeated in 2009due to overwhelming demand from tenants and shoppers.Late Night Shopping and 24 Hour ShoppingDuring the Ramadan festive season, all of LMIR Trust’smalls participated in the “Late Night Shopping” event toentice shoppers with last minute shopping. Free giveawaysand celebrity appearances were made throughout thenight. In addition, two of our malls – Plaza Semanggi andBandung Indah Plaza extended their operations round theclock for a “24 Hour Shopping” event. That was the fi rsttime such an event has taken place in the Indonesianretail market. Response was excellent with shopper traffi chitting record levels.Other Thematic EventsWorking in tandem with portfolio wide marketing efforts,each mall has also developed its own series of thematicevents such as Valentine’s day celebration, Chinese NewYear, “Back to School”, Christmas and Ramadan that helpsto promote and market the branding of the malls. Manyof these events also hosted popular local celebrities andlocal singers, complete with impressive live shows andinteractive activities. These portfolio wide promotional andmarketing programs are aimed to increase shopper traffi cand drive the tenant’s sales.
Page 1 and 2: One Name, One Aim, One Trust.Annual
Page 3: 1One AimOUR MISSIONWe are committed
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