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

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Business and propertiesCERTAIN INFORMATION ON THE PROPERTIESName of propertyYear ofbuildingcompletionPercentage ofcontributionto LMIRTrust’s grossrent forForecastPeriod 2007NLA as at30 June 2007GFA as at30 June 2007Occupancy asat 30 June2007(%) (sq m) (sq m) (%)Retail MallsGajah Mada Plaza . . . . . . . . . . 1982 10.5 34,278 66,160 89.1Cibubur Junction . . . . . . . . . . . 2005 11.2 34,139 49,341 86.4The Plaza Semanggi . . . . . . . . 2003 20.4 58,685 (1) 91,232 96.4Mal Lippo Cikarang . . . . . . . . . 1995 6.8 17,974 (2) 25,767 96.3Ekalokasari Plaza. . . . . . . . . . . 2003 5.8 20,587 (3) 39,895 87.3Bandung Indah Plaza . . . . . . . . 1990 14.4 26,472 (4) 55,196 83.2Istana Plaza . . . . . . . . . . . . . . . 2001 12.0 27,247 37,434 98.9Total for Retail Malls ....... — 81.1 219,382 365,025 91.6 (5)Notes:(1) Current ongoing asset enhancement works to include a new alfresco café area called the “Plangi onthe Sky” café will increase NLA by an estimated 3,000 sq m, bringing total NLA to approximately61,685 sq m by the end of 2007.(2) Recently completed asset enhancement works to expand the retail space at Mal Lippo Cikarang haveincreased the NLA by 10,694 sq m, bringing the total NLA to 28,668 sq m.(3) Recently completed asset enhancement works for the third floor and mezzanine have increased the NLAby 5,013 sq m, bringing the total NLA to 25,600 sq m.(4) Recently completed asset enhancement works have increased the NLA by 3,843 sq m, bringing thetotal NLA to 30,315 sq m.(5) Weighted average occupancy as at 30 June 2007.Name of PropertyYear ofbuildingcompletionPercentage ofcontributionto LMIRTrust’s grossrent forForecastPeriod 2007NLA as at30 June 2007(%) (sq m)Retail SpacesMall WTC Matahari Units . . . . . . . . . . . . . . . . . . . . . . . . . . . 2003 2.5 11,184 (1)Metropolis Town Square Units . . . . . . . . . . . . . . . . . . . . . . . . 2004 3.3 15,248 (2)Depok Town Square Units . . . . . . . . . . . . . . . . . . . . . . . . . . . 2005 2.5 13,045 (2)Java Supermall Units . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2000 2.4 11,082 (1)Malang Town Square Units . . . . . . . . . . . . . . . . . . . . . . . . . . 2005 2.4 11,065 (2)Plaza Madiun . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2000 3.1 19,029Grand Palladium Medan Units . . . . . . . . . . . . . . . . . . . . . . . . 2005 2.6 13,417 (2)Total for Retail Spaces ............................ — 18.9 (3) 94,070Total for Properties ............................... — 100.0 313,452Notes:(1) Based on Strata Titles Ownership Certificates. (See “—Information Regarding the Title of theProperties”.)(2) Based on Kiosks Sale and Purchase Binding Agreements. (See “—Information Regarding the Title ofthe Properties—The Retail Spaces—Kiosks Sale and Purchase Binding Agreement”.)(3) Due to rounding differences.122
Business and propertiesValuationEach of the Properties was valued as at 30 June 2007 by Knight Frank and Colliers. The Appraised Valuesof each of the Properties are set out in the following table:Property30 June 2007 30 June 2007 Frank)Percentage ofAppraised value byKnight Frank as atAppraised value byColliers as ataggregate value of theProperties (asdetermined by Knight(S$ million) (S$ million) (%)Retail MallsGajah Mada Plaza . . . . . . . . . . . . . . . . . 103.8 117.0 10.3Cibubur Junction . . . . . . . . . . . . . . . . . . 94.2 101.8 9.4The Plaza Semanggi . . . . . . . . . . . . . . . 214.8 211.1 21.4Mal Lippo Cikarang . . . . . . . . . . . . . . . . 80.2 79.7 8.0Ekalokasari Plaza. . . . . . . . . . . . . . . . . . 66.0 68.1 6.6Bandung Indah Plaza . . . . . . . . . . . . . . . 124.5 135.1 12.4Istana Plaza . . . . . . . . . . . . . . . . . . . . . . 125.7 114.7 12.5Sub-total . . . . . . . . . . . . . . . . . . . . . . . . 809.2 827.4 (2) 80.5 (2)Retail SpacesMall WTC Matahari Units . . . . . . . . . . . . 25.2 24.3 2.5Metropolis Town Square Units . . . . . . . . 33.5 32.2 3.3Depok Town Square Units . . . . . . . . . . . 25.7 24.8 2.6Java Supermall Units . . . . . . . . . . . . . . . 26.0 25.0 2.6Malang Town Square Units. . . . . . . . . . . 25.5 25.8 2.5Plaza Madiun . . . . . . . . . . . . . . . . . . . . . 33.4 31.8 3.3Grand Palladium Medan Units . . . . . . . . 26.2 25.2 2.6Sub-total . . . . . . . . . . . . . . . . . . . . . . . . 195.5 188.9 (2) 19.5 (2)Grand Total ..................... 1,004.7 1,016.3 100.0Notes:(1) See “Appendix E—Independent Property Valuation Summary Reports”.(2) Due to rounding differences.123
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LIPPO-MAPLETREEINDONESIA RETAIL TRU
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Metropolis Town SquareMall WTC Mata
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KeyInvestmentHighlightsStrong acqui
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Locked-in master leases with rental
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1. Mall WTC Matahari UnitsRetail Sp
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Notice to investorsNo person is aut
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Forward-looking statementsCertain s
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Market and industry informationThis
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SummaryThe following summary is qua
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a right of first refusal (the “RO
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• The management of all the Retai
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information was extracted are based
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2006. It is estimated that the urba
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Further, the Retail Malls are manag
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Key Information on the PropertiesA
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Location of the Properties in Indon
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INFORMATION ON THE PROPERTIESThe Re
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Pictures of Gajah Mada Plaza19
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Percentage of contribution to LMIRT
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Number of tenants as at 30 June2007
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Car parking lots . . . . . . . . .
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Occupancy rate as at 30 June 2007.
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Year of building completion . . . .
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NLA as at 30 June 2007 . . . . . .
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Year of building completion . . . .
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Appraised value by Knight Frank as
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NPI for Forecast Period 2007,Projec
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Note:(1) Based on Strata Titles Own
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Note:(1) Based on Kiosks Sale and P
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Appraised value by Colliers as at30
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Percentage of contribution to LMIRT
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Notes:(1) These 14 Singapore SPCs (
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(See “Strategy—Capital and Risk
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Operating Companies: PT Multi Nusan
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Payable by LMIR Trust(c) Any other
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The offeringLMIR Trust . . . . . .
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Lock-ups . . . . . . . . . . . . .
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Listing and Trading . . . . . . . .
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Singapore are made in accordance wi
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Forecast Period2007Projection Year2
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Risk factorsProspective investors s
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Risk factorssimilar tenancy terms.
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Risk factors• losses arising from
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Page 105 and 106: Ownership of UnitsPRINCIPAL UNITHOL
Page 107 and 108: DistributionsThe distributable inco
Page 109 and 110: Exchange rates and exchange control
Page 111 and 112: CapitalisationThe following table s
Page 113 and 114: Unaudited pro forma consolidated ba
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Page 135 and 136: Business and propertiesIn addition,
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Page 143 and 144: Business and propertiesINFORMATION
Page 145 and 146: Business and propertiesother strata
Page 147 and 148: Business and propertiesBecause of t
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Page 151 and 152: Business and propertiesThe largest
Page 153 and 154: Business and properties“Overview
Page 155 and 156: Business and properties200 sq m and
Page 157 and 158: Business and properties• Mal Cima
Page 159 and 160: Business and propertiesTHE PLAZA SE
Page 161 and 162: Business and propertiesThe table be
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Page 165 and 166: Business and propertiesMAL LIPPO CI
Page 169 and 170: Business and propertiesPercentage o
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Page 173 and 174: Business and properties• Pangrang
Page 175 and 176: Business and propertiesBANDUNG INDA
Page 179 and 180: Business and propertiesAmendment to
Page 181 and 182: Business and propertiesISTANA PLAZA
Page 185 and 186: Business and propertiesThe Istana P
Page 187 and 188: Business and propertiesRelevant inf
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Business and propertiesRelevant inf
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Business and propertiesAppraised va
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Business and propertiesDescriptionP
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Business and propertiesSun PlazaMed
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The Manager and corporate governanc
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The SponsorThe business structure o
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The Sponsorshopping, entertainment
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The SponsorKEY SHAREHOLDERS OF THE
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The formation and structure of LMIR
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Certain agreements relating to LMIR
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Overview of relevant laws and regul
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TaxationSINGAPORE TAX IMPLICATIONST
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Taxationbe applied to reduce the co
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TaxationOn the rental payments to t
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Plan of distributionThe Manager is
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Plan of distributionThe restriction
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Plan of distributionNote:(1) Includ
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Plan of distributionArticle 31, sec
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Plan of distributionUnited States o
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Clearance and settlementINTRODUCTIO
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General information(1) The profit f
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General information(f)(g)(h)Rule 74
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Glossary% Per centum or percentageA
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GlossaryColliersColliers Internatio
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GlossaryIndonesian SPCsInterested P
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GlossaryNPIOCBC BankNet property in
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GlossaryRetail Space Singapore SPCs
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GlossaryUnit Lending AgreementUnit
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Appendix AINDEPENDENT ACCOUNTANTS
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Appendix BINDEPENDENT ACCOUNTANTS
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Appendix BLIPPO-MAPLETREE INDONESIA
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Appendix BPro Forma Consolidated Ba
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Appendix B(D)Pro Forma Consolidated
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Appendix B(x)(xi)(xii)(xiii)(xiv)S$
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Appendix BCash and cash equivalents
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Appendix BLeased assets—Leases in
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Appendix Btemporary difference; and
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Appendix B• The Trustee, the Mana
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Appendix BDeferred income represent
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Appendix Bfinancial year exceeds th
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Appendix Bprice is to be negotiated
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Appendix B4. Bandung Indah PlazaPT
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Appendix CINDEPENDENT SINGAPORE TAX
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Appendix CGains on disposal of shar
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Appendix CDisposal of UnitsSingapor
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Appendix DINDEPENDENT INDONESIAN TA
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Appendix DD-3
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Appendix DD-5
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Appendix DD-7
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Appendix EINDEPENDENT PROPERTY VALU
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Appendix EReport No.017/WPA-Report/
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Appendix ERef. No: V/2006/PKG/3819
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Appendix EVALUATION CERTIFICATEProp
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Appendix EPropertiesLandarea (m 2 )
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Appendix EADDENDUM—STATEMENT OF A
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Appendix FINDEPENDENT REPORT ON THE
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TABLE OF CONTENTSREPORT INSTRUCTION
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Report instructionsAbout Jones Lang
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Executive summaryIMPLICATIONS FOR R
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Overview of Indonesia and its Econo
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Retail Market OverviewTable 2.1.1 I
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Retail Market Overview2.3 Changing
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Retail Market Overviewretailers hav
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Retail Market OverviewCompletionyea
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Retail Market Overview2.7.5 Carrefo
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Retail Market OverviewIn view of th
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Overview of PortfolioAs the adminis
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Overview of PortfolioFigure 3.1.4:
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Overview of PortfolioFigure 3.2.2 B
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Overview of PortfolioFigure 3.2.4 S
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Overview of PortfolioFigure 3.2.6 M
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Overview of PortfolioFigure 3.3.1 L
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Overview of PortfolioMall WTC Matah
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Leased MallsFigure 4.1.1 Cibubur Ju
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Leased MallsTable 4.1.3 Major tenan
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Leased MallsTable 4.1.4 Cibubur Jun
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Leased Malls4.1.7 SWOT analysisTabl
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Leased Malls4.2 Plaza Semanggi4.2.1
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Leased Mallsnumber of international
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Leased MallsTaking the survey and t
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Leased Malls• There are two major
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Leased Mallsterms of its very promi
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Leased MallsFigure 4.3.2 Bandung In
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Leased Malls• In terms of reasons
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Leased Mallsand approximately 38,00
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Leased MallsWhile BIP is likely to
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Leased MallsFigure 4.4.2 Istana Pla
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Leased Malls• The main reason sta
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Leased Malls• Cihampelas Walk is
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Leased MallsFigure 4.4.4: Istana Pl
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Leased MallsOn the completion of th
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Leased MallsThe target market for M
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Leased MallsThe current Hypermart e
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Leased MallsFigure 4.6.2 Gajah Mada
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Leased Malls• Of all the malls in
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Leased Mallshypermart. The centre a
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Leased MallsTable 4.6.7: Rental pos
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Leased Malls4.7.3 Tenant mixThe cur
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Leased Mallsprimarily the city of B
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Leased MallsTable 4.7.5: Main compe
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Retail Spaces Malls5. RETAIL SPACES
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Retail Spaces MallsIn addition, loc
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Retail Spaces MallsThe store target
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Retail Spaces MallsTable 5.3.1: Cen
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Retail Spaces MallsFigure 5.3.3: Gr
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Retail Spaces MallsThis relatively
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Retail Spaces MallsStrata title sho
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Retail Spaces MallsMadiun are locat
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Retail Spaces MallsFigure 5.6.3 Pla
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Retail Spaces MallsThe centre has t
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Appendix GTERMS, CONDITIONS AND PRO
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Appendix G(15) The Manager reserves
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Appendix GAdditional Terms and Cond
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Appendix G(10) By completing and de
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Appendix GAdditional Terms and Cond
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Appendix GWhere your Electronic App
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Appendix GApplication to the Manage
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Appendix GTerms and Conditions for
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Appendix HLIST OF PRESENT AND PAST
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Appendix H(6) Mr Tan Boon LeongCurr
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Appendix HCurrent DirectorshipsMapl
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Appendix HCurrent DirectorshipsMapl
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LIPPO-MAPLETREE INDONESIA RETAIL TR
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