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

Profit forecast and profit projection• All leases and licences are enforceable and will be performed in accordance with their terms.• The property portfolio remains unchanged throughout Forecast Period 2007, Projection Year 2008 andProjection Year 2009.• 100.0% of the Distributable Income will be distributed over Forecast Period 2007, Projection Year 2008and Projection Year 2009; and at least 90% of the Distributable Income will be distributed thereafter.• There will be no changes in the fair value of all financial instruments throughout Forecast Period 2007,Projection Year 2008 and Projection Year 2009.• There will be no further capital raised during Forecast Period 2007, Projection Year 2008 and ProjectionYear 2009.• Operating Companies will perform their duties and fulfil their obligations as required.(See “Certain Agreements Relating to LMIR Trust and the Properties—Description of the OperatingCosts Agreements” and “Certain Agreements Relating to LMIR Trust and the Properties—Descriptionof the Rental Guarantee Deeds”.)SENSITIVITY ANALYSISThe forecast and projected distributions included in this Prospectus are based on a number ofassumptions that have been outlined above. The forecast and projected distributions are also subjectto a number of risks as outlined in “Risk Factors”.All prospective investors in the Units should be aware that future events cannot be predicted with anycertainty and deviation from the figures forecast or projected in this Prospectus are to be expected. Toassist investors in assessing the impact of these assumptions on the Profit Forecast and Profit Projection,a series of tables demonstrating the sensitivity of the distribution per Unit to changes in the keyassumptions are set out below.The sensitivity analysis is intended to provide a guide only and variations and actual performance couldexceed the ranges as shown. Movements in other variables may offset or compound the effect of a changein any variable beyond the extent shown.Rental growth rateChanges in rental growth rate impact the Gross Rent of each Indonesian SPC. The base case rentalgrowth rate of each Property is set out earlier in this section. The impact of variations in the yield is set outbelow.Rental growth rateBased onOfferingPriceYieldForecast Period 2007 Projection Year 2008 Projection Year 2009Based onOfferingPriceBased onOfferingPrice(%) (%) (%)5%lower......................... 6.85 7.29 7.81Base Case ...................... 6.85 7.30 7.845% higher . . . . . . . . . . . . . . . . . . . . . . . . 6.85 7.30 7.85108