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

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Appendix EReport No.017/WPA-Report/2007Page 15.5. Istana PlazaBrief DescriptionIstana Plaza is a 4-storey with 2 basement levels shopping center with a total lettable retail floor areaof about 27,247 square meters. It offers a wide range of shopping, dining, and leisure activities. Thebuilding accommodates a supermarket, a department store, retail units, restaurants, cafes, foodoutlets, food court, a book store, a hardware store, and an ice skating facility. Major tenants includeHero Supermarket, Rimo Department Store, Game Master Amusement Center, Gramedia BookStore, Ace Hardware, Agis Electronic, a “stand-alone” McDonalds outlet, and an ice skating ring.ParticularsAddress : Jalan Pasir Kaliki No. 121-123Sub-District of Pamayonan, District of Cicendo,Regency of Bandung,West Java—<strong>Indonesia</strong>.Land Area : 13,082 square meters.Land Owner : Gereja Kristen Pasundan.Land Title : - Hak Guna Bangunan (Right to Build) No. 43/PamayonanLand Area : 12,350 square meters.Registered Proprietor : Gereja Kristen PasundanExpiry Date : 24 September 2032.- Hak Guna Bangunan (Right to Build) No. 177/PajajaranLand Area : 40 square meters.Registered Proprietor : Gereja Kristen PasundanExpiry Date : 24 September 2032.- Hak Guna Bangunan (Right to Build) No. 58/PamayonanLand Area : 86 square meters.Registered Proprietor : Gereja Kristen PasundanExpiry Date : 24 September 2032.- Hak Guna Bangunan (Right to Build) No. 59/PamayonanLand Area : 361 square meters.Registered Proprietor : Gereja Kristen PasundanExpiry Date : 24 September 2032.- Hak Guna Bangunan (Right to Build) No. 60/PamayonanLand Area : 245 square meters.Registered Proprietor : Gereja Kristen PasundanExpiry Date : 24 September 2032.E-16Continue to page 16.
Appendix EReport No.017/WPA-Report/2007Page 16.BOT Agreement : - Perjanjian Kerjasama (Cooperation Agreement), dated 9 May1997.- Amendment Agreement dated 28 June 2001.- Amendment Agreement dated 10 June 2004.BOT Right Holder : PT. Suryana Istana Pasundan.BOT Term : 32 (thirty two) years from 17 January 2002Or a remaining BOT term of 26.57 years from the date of valuation.Land Zoning : Commercial use.Type of Development : Shopping center.No. of Building Block : 1 block.Building Level : 4 floors with 2 basement levels.Initial Opening Year : 2003.Gross Floor Area : 37,434 square meters.Lettable Floor Area : 27,247 square meters.Occupancy Level : 98.9%.Tenancy Details : As at 30 June 2007, anchor and major tenants occupied about51.1% of the total occupied retail space. Rimo Dept. Store is thelargest tenant which constituted about 17.2% of the total occupiedretail spaces, McDonald’s is the second largest tenant by 8.7%,Ace Hardware is the third largest tenant by 5.5%, HeroSupermarket is the fourth largest tenant by 5.0%, Gramedia BookStore is the fifth largest tenant by 4.6%, and the remaining 10.1%is shared between Agis Electronic, Ice Skating Ring, and GameMaster.Rimo Dept. Store, Ace Hardware, Gramedia Book Store have a10-year lease term expiring in 28 February 2012, Agis Electronichave a 5-year lease term expiring in 2007 (but have confirmed toextend the lease until 2012), Game Master and Ice Skating Ringhave a 5-year lease term expiring in 2011 and 2012 respectively,whilst Hero Supermarket and McDonald’s have a 20-year leaseterm expiring in 2020. About 75.1% of the specialty shopsincluding food outlets have a 5-year lease term, about 18.6% havea 3-year lease term, and the remaining 6.3% have variable leaseterm of 1, 2, 4 or 10 years.The overall average base rental rate is about Rp. 88,458/squaremeter/month. The average base rental rate for the anchor tenants,Lower Ground Floor, Ground Floor, 1st Floor, 2nd Floor, 3rd Floor,and 3rd Floor (food court) respectively are about Rp. 43,678,Rp. 161,443, Rp. 232,124, Rp. 113,071, Rp. 121,089, Rp. 127,576,Rp. 235,747/square meter/month.Continue to page 17.E-17
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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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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
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
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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
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Page 377 and 378: Appendix ERef. No: V/2006/PKG/3819
Page 379 and 380: Appendix EVALUATION CERTIFICATEProp
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Page 401 and 402: Appendix EADDENDUM—STATEMENT OF A
Page 403 and 404: Appendix FINDEPENDENT REPORT ON THE
Page 405 and 406: 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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