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Business and propertiesThe table below sets out information on the 10 largest tenants of Gajah Mada Plaza based on CommittedLeases as at 30 June 2007:Percentage oftotal NLAPercentage of thetotal base rentalincome of GajahMada Plaza basedon CommittedLeases as at30 June 2007Tenant Business sector Lease expiry date(%) (%)Millennium InternationalExecutive Club . . . . . . . . Leisure & Entertainment 29 October 2014 20.2 8.6Rimo Department Store . . . Department Store 30 June 2008 8.0 7.7Hypermart. . . . . . . . . . . . . Supermarket/Hypermarket 2 February 2015 14.5 7.3McDonald’s . . . . . . . . . . . . F&B 28 July 2013 1.8 3.6Inul Vista . . . . . . . . . . . . . Leisure & Entertainment 31 August 2011 2.6 2.5Resto Mart . . . . . . . . . . . . F&B 30 April 2009 1.2 2.1Gajah Mada 21 . . . . . . . . . Leisure & Entertainment 31 March 2013 4.9 1.9Hanamasa . . . . . . . . . . . . F&B 31 October 2007 0.5 1.8Platinum Resto . . . . . . . . . F&B 30 April 2009 0.7 1.8Optical Seis. . . . . . . . . . . . Gifts & Specialty 30 April 2009 0.2 1.610 largest tenants . . . . . . . — — 54.5 (1) 38.7 (1)Other tenants . . . . . . . . . . — — 45.5 61.3Total ................ — — 100.0 100.0Note:(1) Due to rounding differences.Expiry profileThe following table sets out the expiry profiles of the tenancies at Gajah Mada Plaza as at 30 June 2007:PeriodTotal number ofleases expiringNLA of expiringleasesMonthly GrossRent of expiringleases as apercentage offorecast rentalincomeExpiring leases asa percentage ofNLA as at 30 June2007(sq m) (%) (%)FY2007 . . . . . . . . . . . . . . . . . . . . 64 3,241 13.6 9.5FY2008 . . . . . . . . . . . . . . . . . . . . 107 12,069 33.0 35.2FY2009 . . . . . . . . . . . . . . . . . . . . 27 1,225 10.5 3.6Beyond FY2009. . . . . . . . . . . . . . 24 14,002 24.2 40.8Vacant. . . . . . . . . . . . . . . . . . . . . — 3,741 18.8 10.9Total ...................... 222 34,278 100.0 (1) 100.0Note:(1) Due to rounding differences.CompetitionExisting: Located in Jakarta’s affluent Chinatown’s precinct, Gajah Mada Plaza currently faces strongcompetition from 13 retail malls with an aggregate NLA in excess of 20,000 sq m and located within asix km radius. Many of these retail malls compete for the same target segment as Gajah Mada Plaza andmay potentially impact the sales growth that can be achieved at Gajah Mada Plaza.134
Business and propertiesThe largest competing retail malls are:• Mal Taman Anggrek, situated three km to the southwest of Gajah Mada Plaza, which comprisesapproximately 97,000 sq m of retail space including Metro and Galleria department stores and also aHero Supermarket;• Cosmopolitan Mall Pluit, situated six km northwest of Gajah Mada Plaza and anchored by both MatahariDepartment Store and Carrefour hypermarket, is currently undergoing extensive asset enhancementswhich will potentially increase its retail space and improve the positioning of the mall with shoppers in itscatchment areas. The estimated NLA is 88,040 sq m after asset enhancements. As at Listing Date,LMIR Trust has entered into a non-binding memorandum of understanding with PT. Multi PratamaGemilang Perkasa (Pikko Group) to acquire Cosmopolitan Mall Pluit (see “—Potential Acquisition ofProperties from Third Party Vendors”);• Mal Ciputra, situated three km west of Gajah Mada Plaza and anchored by Batik Keris, MatahariDepartment Store and Hero Supermarket, comprises around 51,000 sq m of retail space;• Mega Glodok Kemayoran is situated three km east of Gajah Mada Plaza and anchored by IndonesiaMarine Centre and Home Ciento. The strata mall has a tenancy mix dominated by automotive partsretailers;• Plaza Indonesia is a high-end retail mall targeting the upper income shopper segment and is situatedthree km south of Gajah Mada Plaza. The mall contains 42,000 sq m of mainly high-end retailing,including a Debenham’s department store;• Jakarta City is located three km south of Gajah Mada Plaza and is a strata mall anchored by aHypermart but without a department store; and• Mangga Dua contains a number of retail facilities, predominantly strata malls, and located three kmnorth of Gajah Mada Plaza. The main malls include Mangga Dua Square (60,000 sq m of NLA), WTCMangga Dua (45,000 sq m of NLA), ITC Mangga Dua (44,000 sq m) and Mal Mangga Dua (35,000 sq m).These retail malls target the lower to middle income segment households.Future: The competitive environment of Gajah Mada Plaza’s trade area is expected to intensify over thenext five years, with the planned development of a number of new competing retail malls.There are a number of retail projects currently under construction which will target middle incomehouseholds within Gajah Mada Plaza’s population catchment. These developments include:• Gajah Mada Square, a lease mall with an estimated NLA of 35,000 sq m, which is scheduled to beginoperations in the third quarter of 2007 and is located one km from Gajah Mada Plaza;• Mall of Indonesia, which is scheduled to begin operations in the first quarter of 2008;• Season’s City, a strata mall with an estimated NLA of 40,000 sq m, which is scheduled to beginoperations in 2008, located three km from Gajah Mada Plaza and anchored by Carrefour hypermarket;and• Emporium, a lease mall with an estimated NLA of 63,000 sq m, which is scheduled to begin operationsin the second quarter of 2009 and will be located five km from Gajah Mada Plaza.These new retail malls may potentially reduce the sales growth at Gajah Mada Plaza.(See “Appendix F—Independent Report on the Indonesian Retail Property Market”.)Other informationThe following table sets out other relevant information relating to Gajah Mada Plaza.Year of building completion . . . . . . . . 1982Strata Title Area . . . . . . . . . . . . . . . .GFA as at 30 June 2007 . . . . . . . . . .NLA as at 30 June 2007 . . . . . . . . . .37,501 sq m66,160 sq m34,278 sq m135
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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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Risk factorsacquisitions is limited
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Risk factorsafter the proposed plan
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Risk factorsIf the tenure of the un
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Risk factorsThe Properties may be s
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Risk factorsRenovation work or phys
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Risk factorsSuch compulsory acquisi
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Page 143 and 144: Business and propertiesINFORMATION
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Page 153 and 154: Business and properties“Overview
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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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