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Business and propertiesHypermarket, Galleria, Zara, Watson’s Personal Care Store, Metro department store, Nichols Edwards,and local retailers such as Hero Supermarket and Matahari Department Store. Many of these retail mallscompete for the same target segment as The Plaza Semanggi and may potentially impact the salesgrowth that can be achieved at The Plaza Semanggi.The largest competing retail malls within a six-km radius are:• Pondok Indah Mall, situated six km to the southwest of The Plaza Semanggi, with a NLA ofapproximately 100,000 sq m, and is anchored by Giant Hypermarket, Sogo and Metro departmentstores, Zara and Studio 21 Cinema.• Mal Taman Anggrek, situated five km to the northwest of The Plaza Semanggi, with a NLA ofapproximately 97,000 sq m, with a tenant profile including Metro and Galleria department stores aswell as Hero Supermarket.• Plaza Senayan and the recently opened Senayan City, situated just two km to the southwest of ThePlaza Semanggi, with an aggregate NLA of approximately 80,000 sq m. Both retail malls targetshoppers in the middle to upper income segment, with Plaza Senayan focusing on a slightly moreaffluent target segment.• Mal Ciputra, situated six km north of The Plaza Semanggi, with a NLA of 51,000 sq m, and anchored byBatik Keris, Matahari and Hero Supermarket.• Plaza Indonesia, situated three km north of The Plaza Semanggi, with a NLA of approximately42,000 sq m, is a high-end retail mall targeting the upper income shopper segment whichcomprises mainly high-end retailers, including a Debenham’s department store.• Jakarta City, situated three km north of The Plaza Semanggi, is a strata mall anchored by a Hypermartbut does not house a department store.Future: The competitive environment of The Plaza Semanggi’s trade area is expected to intensify overthe next five years, with the planned development of a number of new competing retail malls.There are a number of new retail projects currently under construction which will target the middle incomehouseholds within The Plaza Semanggi’s population catchment. These developments will add anaggregate NLA of 318,900 sq m to Jakarta’s CBD and are scheduled to be completed by the end of 2009.These developments include:• Pacific Place, located one km from The Plaza Semanggi, with a NLA of approximately 75,000 sq m, andwill be anchored by Metro department store and Kidzania.• Grand Indonesia, located three km away from The Plaza Semanggi, with a NLA of approximately108,000 sq m, and will be anchored by Seibu, Harvey Nichols and Blitz Megaplex (a cinema operator).• Citywalk Sudirman @ Cityloft, located two km away from The Plaza Semanggi, with a NLA ofapproximately 17,300 sq m.• Main Street Gandaria, located five km away from The Plaza Semanggi, with a NLA of approximately94,000 sq m, and will be anchored by Metro department store, Fitness First, Studio and ElectronicSolutions.• Plaza Indonesia extension, which will increase its current NLA of 42,000 sq m by an additional25,386 sq m.• Kota Kasablanca, located three km away from The Plaza Semanggi, with a NLA of approximately62,000 sq m and anchored by Sogo department store and Fitness First.• Kemang City Mall, located five km away from The Plaza Semanggi, with a NLA of approximately56,052 sq m.• Sudirman Place, located one km away from The Plaza Semanggi, with a NLA of approximately31,000 sq m.146
Business and properties• Epicentrum Walk, located two km away from The Plaza Semanggi, with a NLA of approximately26,200 sq m.(See “Appendix F—Independent Report on the Indonesian Retail Property Market”.)Other informationThe following table sets out other relevant information relating to The Plaza Semanggi.Year of building completion . . . . . . . . 2003Land Area . . . . . . . . . . . . . . . . . . . . .19,000 sq mGFA as at 30 June 2007 . . . . . . . . . . 91,232 sq mNLA as at 30 June 2007 . . . . . . . . . . 58,685 sq m (1)Occupancy rate as at 30 June 2007. . 96.4%Appraised value by Knight Frank as at30 June 2007 . . . . . . . . . . . . . . . . . . S$214.8 millionAppraised value by Colliers as at30 June 2007 . . . . . . . . . . . . . . . . . . S$211.1 millionCar parking lots . . . . . . . . . . . . . . . . . 1,100Motorcycle parking lots . . . . . . . . . . . 750Population catchment . . . . . . . . . . . . 270,387 households (2)Title . . . . . . . . . . . . . . . . . . . . . . . . . .The Plaza Semanggi was built pursuant to a BOT Schemebased on the Introductory agreement of revitalisation,management and transfer (Perjanjian Pengikatan Revitalisasi,Pengelolaan dan Pengalihan) dated 5 January 2000 betweenYayasan Gedung Veteran Republik Indonesia as BOT Grantorand PT Primatama Nusa Indah as BOT Grantee, as confirmedby deed of revitalisation, development, management andtransfer (Perjanjian Revitalisasi, Pembangunan, Pengolahandan Pengalihan) No. 56 dated 29 March 2000 and asamended by deeds of addendum Nos. 25 and 26, both dated26 May 2000, made before Popie Savitri M Pharmanto S.H.,Notary in Jakarta and Addendum dated 29 January 2002.Yayasan Gedung Veteran Republik Indonesia was given apermit to use a plot of land and buildings in an area of 19,000sq m located at Kecamatan Setiabudi, Karet Semanggi, DKIJakarta (known as Jalan Jend Sudirman Kav. 50 RT 002/RW01),With Right to Use (Hak Pakai—“HP”) Title No. 133 by StateSecretary of the Republic of Indonesia as the land owner.Yayasan Gedung Veteran Republik Indonesia and PTPrimatama Nusa Indah have agreed to enter into a BOTScheme to construct a shopping centre and an office building.HP Title no. 133/Karet Semanggi is registered under the name ofState Secretary of the Republic of Indonesia and will be valid aslong as the land is being used. This BOT agreement is valid for30 years from 8 July 2004.PT Primatama Nusa Indah, with consent from Yayasan GedungVeteran Republik Indonesia (as BOT Grantor) and the StateSecretariat of the Republic of Indonesia, may assign its rightsand obligations under the BOT agreement to other parties orbank or financial institutions that finance new construction,provided that the BOT agreement shall bind the transferee.147
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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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DistributionsThe distributable inco
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Exchange rates and exchange control
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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 159 and 160: Business and propertiesTHE PLAZA SE
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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
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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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