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

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Business and properties24 December 2001 and valid until 23 December 2021. Under theBOT agreement, PD Pembangunan Sarana Jaya DKI Jakartaand PT Cibubur Utama agree to enter into a cooperationagreement, at which PD Pembangunan Sarana Jaya DKIJakarta agrees to provide the land and PT Cibubur Utamaagrees to construct a shopping centre over the land. CibuburJunction BOT arrangement between PT Cibubur Utama andPD Pembangunan Sarana Jaya DKI Jakarta shall be validuntil 28 July 2025.PT Cibubur Utama (as BOT Grantee) cannot assign its rightsunder the BOT agreement and transfer the share ownership ofthe shareholders of PT Cibubur Utama to another party unlessprior written approval is obtained from PD PembangunanSarana Jaya DKI Jakarta (as BOT Grantor). Consent of thetransfer of shares in Cibubur Junction to its relevant Retail MallSingapore SPC has been obtained as evidenced by LetterNo. 306/076.11, dated 4 April 2007, issued by the BOT Grantor.The land on which Cibubur Junction is situated is owned byPD Pembangunan Sarana Jaya DKI Jakarta. Therefore,PT Cibubur Utama has no right to encumber or transfer the land.Average Specialty Base Rent as at30 June 2007 (Rp.’000 per sq m permonth) . . . . . . . . . . . . . . . . . . . . . . . 200NPI for Forecast Period 2007,Projection Year 2008 and ProjectionYear 2009 (S$’000) . . . . . . . . . . . . . . Forecast Period 2007—4,233Projection Year 2008—8,895Projection Year 2009—8,943Percentage of contribution to LMIRTrust’s Gross Rent for Forecast Period2007 . . . . . . . . . . . . . . . . . . . . . . . . . 11.2%Note:(1) The figure comprises the number of households within the primary trade area of the relevant RetailMall. (See “Appendix F—Independent Report on the Indonesian Retail Property Market”.)142
Business and propertiesTHE PLAZA SEMANGGIJalan Jend. Sudirman Kav.50, South JakartaJakarta profile(See “—Gajah Mada Plaza—Jakarta Profile”.)DescriptionThe Plaza Semanggi is a modern shopping centre comprising seven storey and two basement levelsshopping centre and 13 levels of office floors, with a carpark comprising approximately 1,100 parking lots.The Plaza Semanggi is strategically located in the heart of Jakarta’s CBD within the city’s Golden Triangleat the Semanggi interchange, which is a junction channelling north-south and east-west traffic acrosscentral Jakarta. The centre is situated among many commercial buildings and adjacent to AtmajayaUniversity, one of Jakarta’s most prominent universities. Anchored by Centro Department Store and GiantHypermarket, the 479 tenants (as at 30 June 2007) provide all categories of shoppers with a diverse andcomprehensive tenant mix. The Plaza Semanggi offers both destination and convenience shopping, andis supported by its central location, which is easily accessible by cars and public transport.Tenant profileAs at 30 June 2007, The Plaza Semanggi had 479 retail tenants based on Committed Leases. The mall isanchored by the only Centro Department Store located in Jakarta. This Centro Department Storeoccupies three levels, namely the upper ground level, level one and level two, with Fitness First alsooccupying space across these three levels.The lower ground floor is occupied by Giant Hypermarket. The ground floor includes a significant numberof retailers selling F&B, retail services, gifts, and health and beauty products.The upper ground floor contains a number of international fashion retailers to complement the departmentstore and to cater for middle to upper middle income visitors. High profile tenants on the upper ground level143
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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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Risk factorsthereby materially and
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Risk factorsinterpretation by the I
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Risk factors• broad market fluctu
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Ownership of UnitsPRINCIPAL UNITHOL
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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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Page 175 and 176: Business and propertiesBANDUNG INDA
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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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Page 201 and 202: Business and propertiesDescriptionP
Page 203 and 204: 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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