LIPPO-MAPLETREE - Lippo Malls Indonesia Retail Trust - Investor ...

Profit forecast and profit projectionStatements contained in the Profit Forecast and Profit Projection section that are not historical facts maybe forward-looking statements. Such statements are based on the assumptions set out on pages 100 to108 of this Prospectus and are subject to certain risks and uncertainties which could cause actual resultsto differ materially from those forecast and projected. Under no circumstances should the inclusion of suchinformation herein be regarded as a representation, warranty or prediction with respect to the accuracy ofthe underlying assumptions by LMIR Trust, the Manager, the Underwriters, the Sponsor, the PropertyManager, the Trustee or any other person, nor that these results will be achieved or are likely to beachieved. See “Forward-Looking Statements” and “Risk Factors”. Investors in the Units are cautioned notto place undue reliance on these forward-looking statements which are valid only as at the date of thisProspectus.None of LMIR Trust, the Manager, the Financial Adviser, the Underwriters, the Sponsor, theProperty Manager, the Trustee and the Unit Lender guarantees the performance of LMIR Trust,the repayment of capital or the payment of any distributions, or any particular return on the Units.The forecast and projected yields stated in the following table are calculated based on (i) theOffering Price and (ii) the assumption that the Listing Date is 1 July 2007. Such yields will varyaccordingly since the Listing Date will be after 1 July 2007 and in relation to investors whopurchase Units in the secondary market at a market price that differs from the Offering Price.The following table below sets forth LMIR Trust’s forecast and projected consolidated statements of totalreturn for Forecast Period 2007, Projection Year 2008 and Projection Year 2009, respectively. The financialyear-end of LMIR Trust is 31 December. For the purpose of the profit forecast and profit projections, LMIRTrust’s first accounting period is assumed to be for the period from 1 July 2007, being the date of itsestablishment, to 31 December 2007. The profit forecast and profit projections will be different if the date ofestablishment differs from 1 July 2007 or if the end of the first financial period differs from 31 December2007. The profit forecast and profit projections should be read together with the report set out in“Appendix A—Independent Accountants’ Report on the Profit Forecast and Profit Projection” as wellas the assumptions and the sensitivity analysis set out in this section of the Prospectus.The following table sets forth LMIR Trust’s Forecast and Projected Consolidated Statement of Total Returnfor Forecast Period 2007, Projection Year 2008 and the Projection Year 2009 prepared based on theOffering Price.Forecast and Projected Consolidated Statement of Total ReturnForecast Period Projection Year Projection Year200720082009(S$’000) (S$’000) (S$’000)Gross RevenueGrossRent................................. 35,018 74,660 81,632Carpark income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,782 7,356 7,053Other income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,346 2,804 2,895Total Gross Revenue. ........................ 40,146 84,820 91,580Property Operating ExpensesLand rental . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (661) (1,618) (1,836)Property management fees . . . . . . . . . . . . . . . . . . . . . (1,475) (3,134) (3,423)Other property operating expenses . . . . . . . . . . . . . . . (461) (583) (447)Total Property Operating Expenses ............. (2,597) (5,335) (5,706)Net Property Income ......................... 37,549 79,485 85,874Interest income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 789 1,157 796Financial expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . (201) (365) (339)98