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

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GlossaryProperty ManagerProperty Purchase AgreementsPT IPBPublic OfferRecognised Stock ExchangeREITRegulation SRelated PartyRelated Party TransactionsRelevant AssetRentRental Guarantee DeedsRetail Mall Indonesian SPC SharePurchase AgreementsRetail Mall Indonesian SPCsRetail Mall Singapore SPCsRetail MallsRetail Space Indonesian SPC SharePurchase AgreementsRetail Space Indonesian SPCsPT. Consulting & Management Services Division, as propertymanager of the Retail Malls and any property located inIndonesia acquired by LMIR Trust after the Listing Date.The sale and purchase agreements, each entered into by therelevant Indonesian SPC, to acquire the relevant PropertyPT Indah Pesona BogorThe offering of 20,000,000 Units to the public in SingaporeAny stock exchange of repute in any part of the worldReal estate investment trustRegulation S under the Securities ActRefers to an interested person and/or, as the case may be, aninterested partyRefers to an Interested Person Transaction and/or, as the casemay be, an Interested Party TransactionA retail property located in Indonesia which is subject to theROFR, as described in “Certain Agreements Relating to LMIRTrust and the Properties—Description of the Right of FirstRefusal Agreement”Consists of rent paid by tenants under their lease agreements forspace in the Retail SpacesThe seven rental guarantee deeds entered into by LippoStrategic with the relevant Retail Mall Singapore SPCpursuant to which Lippo Strategic will (i) provide a rentalguarantee over the relevant Retail Mall and (ii) undertake topay to the relevant Retail Mall Singapore SPC any shortfall in themaintenance and operation costs which the relevant OperatingCompany has undertaken to bear under the respectiveOperating Costs AgreementThe seven share purchase agreements, each entered intobetween two relevant Singapore SPCs and the vendor of therelevant Retail Mall Indonesian SPC, pursuant which the tworelevant Singapore SPCs acquire all the ordinary shares in thatRetail Mall Indonesian SPCThe Indonesian SPCs which collectively own the Retail Malls asat the Listing Date and each a “Retail Mall Indonesian SPC”The Tier 1 Retail Mall Singapore SPCs and the Tier 2 Retail MallSingapore SPCsGajah Mada Plaza, Cibubur Junction, The Plaza Semanggi, MalLippo Cikarang, Ekalokasari Plaza, Bandung Indah Plaza andIstana PlazaThe seven share purchase agreements, each entered intobetween two relevant Singapore SPCs and the vendor of therelevant Retail Space Indonesian SPC, pursuant which the tworelevant Singapore SPCs acquire all the ordinary shares in thatRetail Space Indonesian SPCThe Indonesian SPCs which collectively own the Retail Spacesas at the Listing Date, and each a “Retail Space IndonesianSPC”278
GlossaryRetail Space Singapore SPCs Java Properties Pte. Ltd., Serpong Properties Pte. Ltd.,Metropolis Properties Pte. Ltd., Matos Properties Pte. Ltd.,Detos Properties Pte. Ltd., Palladium Properties Pte. Ltd. andMadiun Properties Pte. Ltd., and each a “Retail SpaceSingapore SPC”Retail SpacesRKLROFR or Right of First RefusalThe Mall WTC Matahari Units; the Metropolis Town SquareUnits; the Depok Town Square Units; the Java SupermallUnits; the Malang Town Square Units; Plaza Madiun; and theGrand Palladium Medan UnitsAn environmental management planA right that an offer be made to LMIR Trust over a sale or transferof a Relevant Asset, as described in “Certain AgreementsRelating to LMIR Trust and the Properties—Description of theRight of First Refusal Agreement”ROFR PropertiesBinjai Supermall, Pejaten Mall, Kuta Beach Mall, Kemang CityMall and Puri “Paragon City”Rp. or Indonesian RupiahThe lawful currency of the Republic of IndonesiaRPLAn environmental monitoring planS$ or Singapore dollars and cents Singapore dollars and cents, the lawful currency of the Republicof SingaporeSARSSevere Acute Respiratory SyndromeSecond Lock-Up PeriodThe period commencing from the day immediately following theFirst Lock-up Period until the date falling 12 months after theListing DateSecurities AccountSecurities account or sub-account maintained by a Depositor (asdefined in Section 130A of the Companies Act) with CDPSecurities ActU.S. Securities Act of 1933, as amendedService DateThe date of service of the put option noticeSettlement DateThe date and time on which the Units are issued as settlementunder the OfferingSFA or Securities and Futures Act Securities and Futures Act, Chapter 289 of SingaporeSFOSecurities and Futures Ordinance (Cap. 571 of the Laws of HongKong)SGX-STSingapore Exchange Securities Trading LimitedSingapore SPC Share PurchaseAgreementsSingapore SPCsSPCsSpecialty Base RentSponsorSponsor EntityThe agreements dated 18 October 2007 entered into betweeneach of the Vendors and the Trustee, pursuant to which theTrustee will acquire all of the ordinary shares and redeemablepreference shares in each of the Target Singapore SPCs atcompletionThe Retail Mall Singapore SPCs and the Retail Space SingaporeSPCsSpecial Purpose Companies, and each, a “SPC”Monthly rental rate per sq m chargeable to specialty storetenantsPT. Lippo Karawaci TbkThe Sponsor or any of its subsidiaries279
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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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Business and propertieswell-known c
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Business and propertiesThe largest
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Business and properties“Overview
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Business and properties200 sq m and
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Business and properties• Mal Cima
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Business and propertiesTHE PLAZA SE
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Business and propertiesThe table be
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Business and properties• Epicentr
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Business and propertiesMAL LIPPO CI
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Business and propertiesPercentage o
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Business and propertiesfloor. The o
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Business and properties• Pangrang
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Business and propertiesBANDUNG INDA
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Business and propertiesAmendment to
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Business and propertiesISTANA PLAZA
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Business and propertiesThe Istana P
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Business and propertiesRelevant inf
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Business and propertiesAppraised va
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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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Certain agreements relating to LMIR
Page 243 and 244: Certain agreements relating to LMIR
Page 257 and 258: Overview of relevant laws and regul
Page 265 and 266: TaxationSINGAPORE TAX IMPLICATIONST
Page 267 and 268: Taxationbe applied to reduce the co
Page 269 and 270: TaxationOn the rental payments to t
Page 271 and 272: Plan of distributionThe Manager is
Page 273 and 274: Plan of distributionThe restriction
Page 275 and 276: Plan of distributionNote:(1) Includ
Page 277 and 278: Plan of distributionArticle 31, sec
Page 279 and 280: Plan of distributionUnited States o
Page 281 and 282: Clearance and settlementINTRODUCTIO
Page 283 and 284: General information(1) The profit f
Page 285 and 286: General information(f)(g)(h)Rule 74
Page 287 and 288: Glossary% Per centum or percentageA
Page 289 and 290: GlossaryColliersColliers Internatio
Page 291 and 292: GlossaryIndonesian SPCsInterested P
Page 293: GlossaryNPIOCBC BankNet property in
Page 297 and 298: GlossaryUnit Lending AgreementUnit
Page 299 and 300: Appendix AINDEPENDENT ACCOUNTANTS
Page 301 and 302: Appendix BINDEPENDENT ACCOUNTANTS
Page 303 and 304: Appendix BLIPPO-MAPLETREE INDONESIA
Page 305 and 306: Appendix BPro Forma Consolidated Ba
Page 307 and 308: Appendix B(D)Pro Forma Consolidated
Page 309 and 310: Appendix B(x)(xi)(xii)(xiii)(xiv)S$
Page 311 and 312: Appendix BCash and cash equivalents
Page 313 and 314: Appendix BLeased assets—Leases in
Page 315 and 316: Appendix Btemporary difference; and
Page 317 and 318: Appendix B• The Trustee, the Mana
Page 319 and 320: Appendix BDeferred income represent
Page 321 and 322: Appendix Bfinancial year exceeds th
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Page 325 and 326: Appendix B4. Bandung Indah PlazaPT
Page 327 and 328: Appendix CINDEPENDENT SINGAPORE TAX
Page 329 and 330: Appendix CGains on disposal of shar
Page 331 and 332: Appendix CDisposal of UnitsSingapor
Page 333 and 334: Appendix DINDEPENDENT INDONESIAN TA
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Page 341 and 342: Appendix EINDEPENDENT PROPERTY VALU
Page 343 and 344: Appendix EReport No.017/WPA-Report/
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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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