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

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Business and propertiesrelated corporations, alone or in aggregate, remains a controlling shareholder of the Manager, a ROFRover any Relevant Asset (i) which any Sponsor Entity proposes to sell or transfer (whether such RelevantAsset is wholly-owned or partly-owned by the Sponsor Entity and excluding any sale of such RelevantAsset by a Sponsor Entity to any related corporation of such Sponsor Entity pursuant to a reconstruction,amalgamation, restructuring, merger or any analogous event) to an unrelated third party or (ii) for which aproposed offer for sale or transfer of such Relevant Asset has been made to a Sponsor Entity (see“Certain Agreements Relating to LMIR Trust and the Properties—Description of the Right of First RefusalAgreement”).As at the Latest Practicable Date, the ROFR Properties are expected to have an aggregate GFA ofapproximately 397,080 sq m, and an aggregate NLA of approximately 273,074 sq m. If LMIR Trustacquires all the ROFR Properties, the aggregate NLA of LMIR Trust’s initial property portfolio will increaseby over 270,000 sq m, and will represent approximately 87.1% of the aggregate NLA of LMIR Trust’s initialproperty portfolio as at 30 June 2007.The Manager believes that the ROFR granted to LMIR Trust provides a visible pipeline of futureacquisitions and will greatly enhance LMIR Trust’s growth profile given the size and quality of theROFR Properties, as well as significantly increase LMIR Trust’s presence in the Indonesian retail markets.The following tables set out the relevant information relating to the ROFR Properties.Binjai SupermallJalan Soekarno Hatta, Binjai, North SumatraExpected completion date . . . . . . . . . . . . . . . . . .EstimatedGFA ..........................EstimatedNLA ..........................Target segment . . . . . . . . . . . . . . . . . . . . . . . . . .District/Area . . . . . . . . . . . . . . . . . . . . . . . . . . . .Fourth quarter of 200723,615 sq m18,300 sq mMiddle to middle-upper income groups in Medan,North Sumatra and the surrounding suburbanareas.Medan, North SumatraDescriptionBinjai Supermall, when completed, will be a two-level retail mall prominently located along the main roadfrom North Sumatra to Medan. The mall has a wide population catchment area which covers Binjai andMedan. There are approximately 2.2 million people within its immediate catchment area.Positioned as a lifestyle mall for the middle to upper middle income segments of the retail market, BinjaiSupermall targets a wide range of customers, including families, business people and teenagers. Thepotential strong tenancy mix, which includes an amusement centre and plentiful food and cafe outlets, willdraw shoppers to the mall.Pejaten MallJalan Warung Jati Barat, South JakartaExpected completion date . . . . . . . . . . . . . . . . . .EstimatedGFA ..........................EstimatedNLA ..........................Target segment . . . . . . . . . . . . . . . . . . . . . . . . . .District/Area . . . . . . . . . . . . . . . . . . . . . . . . . . . .Second quarter of 200857,948 sq m40,327 sq mMiddle to upper income residents from SouthJakarta and the surrounding suburban areas.South Jakarta184
Business and propertiesDescriptionPejaten Mall is located along Jalan Warung Jati Barat, a major road linking central Jakarta to the southernpart of Jakarta. This proposed six-level retail mall will cater to the upper income housing estates,surrounding this site in South Jakarta. It is intended that the tenant mix will comprise a hypermarket,a department store and specialty shops.Kuta Beach MallKartika Plaza Road, Kuta, BaliExpected completion date . . . . . . . . . . . . . . . . . .EstimatedGFA ..........................EstimatedNLA ..........................Target Segment. . . . . . . . . . . . . . . . . . . . . . . . . .District/Area . . . . . . . . . . . . . . . . . . . . . . . . . . . .Second half of 200841,562 sq m30,735 sq mTourists and residents of Kuta, BaliKuta, BaliDescriptionKuta Beach Mall is located along Kartika Plaza road which is the main road connecting Ngurah Rai Airportto the Kuta Beach area. This proposed retail mall targets the tourist and local population. The theme ofKuta Beach Mall reflects the relaxed lifestyle of Bali and includes a tenant mix comprising F&B, fashion,entertainment and a variety of stores catering to daily convenience needs.Kemang City MallJalan Pangeran Antasari, South JakartaExpected completion date . . . . . . . . . . . . . . . . . .EstimatedGFA ..........................EstimatedNLA ..........................Target segment . . . . . . . . . . . . . . . . . . . . . . . . . .District/Area . . . . . . . . . . . . . . . . . . . . . . . . . . . .First half of 200977,555 sq m56,052 sq mMiddle to upper income residents from SouthJakarta and the surrounding suburban areasSouth JakartaDescriptionKemang City Mall is located in Kemang, South Jakarta. It will be positioned to blend a tenant mix includingtenants specialising in leisure, hospitality, entertainment, education, retail, and residential. It offersenjoyable views of both the river and the scenic Pangeran Antasari Street. The scale of this projectwill enable customers to be drawn from a vast catchment area across Jakarta.Puri “Paragon City”Jalan Puri Indah Raya, West JakartaExpected completion date . . . . . . . . . . . . . . . . . .EstimatedGFA ..........................EstimatedNLA ..........................Target segment . . . . . . . . . . . . . . . . . . . . . . . . . .District/Area . . . . . . . . . . . . . . . . . . . . . . . . . . . .Second half of 2009196,400 sq m127,660 sq mMiddle to upper income residents from WestJakarta and the surrounding suburban areas.West Jakarta185
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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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Profit forecast and profit projecti
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StrategyDate, to the extent that LM
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StrategyGiven that there is limited
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Strategyterm funding in a more cost
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Business and propertiesIn addition,
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Business and propertiestheir daily
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Business and propertiesValuationEac
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Business and propertiesThe followin
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Business and propertiesINFORMATION
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Business and propertiesother strata
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Business and propertiesBecause of t
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Page 159 and 160: Business and propertiesTHE PLAZA SE
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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
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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
Page 193 and 194: Business and propertiesAppraised va
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Page 203 and 204: Business and propertiesSun PlazaMed
Page 205 and 206: The Manager and corporate governanc
Page 225 and 226: The SponsorThe business structure o
Page 227 and 228: The Sponsorshopping, entertainment
Page 229 and 230: The SponsorKEY SHAREHOLDERS OF THE
Page 231 and 232: The formation and structure of LMIR
Page 239 and 240: Certain agreements relating to 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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