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

Appendix BDescription of propertyLocationAt valuationas atlisting dateS$’000Percentage of totalnet assetsattributable toUnitholders%Retail SpacesMall WTC Matahari Units (c) Tangerang, Greater Jakarta . . . . . 25,170 2.6Metropolis Town Square Units (d) Tangerang, Greater Jakarta . . . . . 33,542 3.5Depok Town Square Units (d) Depok, Greater Jakarta . . . . . . . . 25,661 2.7Java Supermall Units (c) Semarang, Central Java . . . . . . . . 25,983 2.7Malang Town Square Units (d) Malang, East Java . . . . . . . . . . . . 25,543 2.7Plaza Madiun (a) Madiun, Central Java . . . . . . . . . . 33,424 3.5Grand Palladium Medan Units (d) Medan, North Sumatra . . . . . . . . . 26,153 2.7Sub total 195,476 20.3Total investment properties, at valuation 1,004,679(a)(b)(c)(d)The title/right held by LMIR Trust is Hak Guna Bangunan (“HGB”). A holder of HGB title has the rightto erect, occupy and use buildings on that particular parcel of land, and also has the right toencumber and sell all or part of the parcel.These properties are under build operate and transfer arrangements (“BOT”) (see Note F15 ). Thisright is granted by the land owner to the Retail Malls Property Companies, who are given the right tobuild and operate the Retail Malls for a particular period of time in exchange for payment of certaincompensation as stipulated in the BOT agreements. Specific terms and conditions apply for eachBOT agreement and its addendums.The title/right held by LMIR Trust is strata title. For strata titles, under the Indonesian land law, abuilding developer must divide the multi-storey building into (i) rights of ownership (strata title) oneach unit, (ii) rights on common properties and (iii) rights to common land in the form of a sketch plan,which must be approved by the relevant authority. Such sketch plan must also provide an explanationon (i) unit separation that can be used by individuals, (ii) the limitation and separation of the strata titleright over common properties and (iii) the strata title right over the common land.These retail spaces are each bound by Kiosks Sale and Purchase Binding Agreements becausetheir strata titles are in the process of being issued by the Indonesian government. See alsoNote F15.Other details on the Properties are disclosed in the Prospectus. Please also refer to the revaluationselected by the Manager as disclosed in the Prospectus.The carrying amounts of the investment properties as at the Listing Date are based on an independentvaluation dated 30 June 2007 undertaken by Knight Frank / PT. Willson Properti Advisindo as of 30 June2007. The valuations were based on the Income Method of valuation utilising a Discounted CashflowAnalysis and Income Capitalisation Method.6. Trade and other payables / deferred incomeS$’000Rental deposits from tenants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 394Deferred income—Retail Spaces . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,166Others . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 227Total trade and other payables (Current) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,787Other payables (Non-current)—Rental deposits from tenants . . . . . . . . . . . . . . . . . . . . . . . . . 5,213Deferred income (Non-current)—Retail Malls . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66,849Analysis of above amount denominated in foreign currency:Indonesian Rupiah . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73,849B-18