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

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Business and propertiesshoppers to the mall. The leases of 51 existing tenants expire in 2007 and this will present opportunities toreview the tenancy mix and potentially achieve higher rentals for the expiring leases.Asset enhancement plansConstruction of an extension annex, which increased the mall’s NLA by 10,694 sq m, has recently beencompleted. As at 30 June 2007, 8,539 sq m or approximately 79.8% of this additional NLA space createdhas been pre-committed to Hypermart. The remaining additional NLA will be leased out to specialtytenants.The following chart provides a breakdown (by area) of the various trade sub-sectors represented in MalLippo Cikarang as at 30 June 2007:Mal Lippo Cikarang—Trade sector analysis (By area)Trade sub sectorDepartment StoreSupermarket/HypermarketLeisure & EntertainmentFood & Beverage/Food CourtFashionHome FurnishingsBooks & StationeryServicesElectronic/ITOtherToysSports & FitnessGifts & SpecialtyContribution (%)23.721.314.012.112.15.43.72.91.51.20.80.70.6150
Business and propertiesThe table below sets out information on the 10 largest tenants of Mal Lippo Cikarang based on CommittedLeases as at 30 June 2007:Tenant Business sector Lease expiry datePercentage oftotal NLAPercentage of thetotal base rentalincome of Mal LippoCikarang based onCommitted Leases asat 30 June 2007(%) (%)Matahari DepartmentStore . . . . . . . . . . . . . Department store 9 December 2026 33.4 18.0Hero supermarket . . . . . Supermarket/Hypermarket 9 August 2008 12.5 11.8Studio 21 Cinema. . . . . . Leisure & Entertainment 16 February 2015 9.4 4.2Solaria . . . . . . . . . . . . . F&B 16 May 2012 2.8 4.1Kentucky FriedChicken . . . . . . . . . . . F&B 9 June 2010 1.1 3.1Toko Buku Utama. . . . . . Bookstore 31 August 2007 3.4 3.1Sting . . . . . . . . . . . . . . . Furniture 31 January 2012 1.1 2.8Wendy’s Restaurant . . . . F&B 14 March 2012 1.5 2.4Hoka-Hoka Bento . . . . . . F&B 22 August 2007 1.4 2.2TimeZone . . . . . . . . . . . Leisure & Entertainment 30 September 2011 3.8 1.910 largest tenants. . . . . . — — 70.3 (1) 53.5 (1)Other tenants. . . . . . . . . — — 29.7 46.5Total ............... — — 100.0 100.0Note:(1) Due to rounding differences.Expiry ProfileThe following table sets out the expiry profiles of the tenancies at Mal Lippo Cikarang as at 30 June 2007:PeriodTotal numberof leasesexpiringNLA ofexpiringleasesMonthly gross rentof expiring leasesas a percentage offorecast rentalincomeExpiring leases asa percentage of NLAas at 30 June 2007(sq m) (%) (%)FY2007 . . . . . . . . . . . . . . . . . . . . . . . 51 2,187 14.7 12.2FY2008 . . . . . . . . . . . . . . . . . . . . . . . 29 3,589 27.9 20.0FY2009 . . . . . . . . . . . . . . . . . . . . . . . 11 342 5.9 1.9Beyond FY2009. . . . . . . . . . . . . . . . . 25 11,195 46.2 62.3Vacant . . . . . . . . . . . . . . . . . . . . . . . . — 661 5.3 3.7Total ......................... 116 17,974 100.0 100.0 (1)Note:(1) Due to rounding differences.CompetitionExisting: Mal Lippo Cikarang is the only major shopping centre serving the Lippo Cikarang Township.Competing retail malls within a 10 km radius and each comprising an estimated NLA of at least 8,000 sq minclude:• Mal Carrefour Cikarang, which began operations in early 2007, is located four km away from Mal LippoCikarang, with a NLA of approximately 8,000 sq m, and is anchored by Carrefour hypermarket. The mall151
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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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CapitalisationThe following table s
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Unaudited pro forma consolidated ba
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Page 143 and 144: Business and propertiesINFORMATION
Page 145 and 146: Business and propertiesother strata
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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 165: Business and propertiesMAL LIPPO CI
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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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