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

Mal Lippo CikarangJalan MH Thamrin, Lippo Cikarang, Greater JakartaBrief description . . . . . . . . . . . . . . . . Mal Lippo Cikarang is a two-level retail mall located within theLippo Cikarang estate. The estate is approximately 40 km east ofJakarta and is connected to Jakarta via the Jakarta-Cilkampektoll road. Comprising industrial, commercial and residentialcomponents, the Lippo Cikarang estate is home to25,000 residents and approximately 65,000 jobs. Mal LippoCikarang is the main shopping centre in the estate and haslimited competition within an approximately 10-km radius. Themall is anchored by Matahari Department Store, Hypermart andHero Supermarket, complemented by a cinema, a bookshop, avideo game centre, restaurants and dining outlets. The mall hasrecently completed a S$4.7 million expansion and renovationprogramme which has increased its NLA by more than 50.0%.Population catchment . . . . . . . . . . . . 84,962 households (1)Title . . . . . . . . . . . . . . . . . . . . . . . . . .Year of building completion . . . . . . . . 1995Appraised value by Knight Frank as at30 June 2007 . . . . . . . . . . . . . . . . . . S$80.2 millionAppraised value by Colliers as at30 June 2007 . . . . . . . . . . . . . . . . . . S$79.7 millionLand Area . . . . . . . . . . . . . . . . . . . . .Mal Lippo Cikarang was built on a plot of land of 49,250 sq mbased on measurement letter No. 19128/1994 dated 25 August1994 and Certificate of Right to Build (HGB title) No. 627/Kelurahan Cibatu, registered under the name of PT GrahaNusa Raya, issued by Bekasi Land Office on 9 December1994, and valid until 5 May 2023 and is extendable foranother term of up to 20 years. Following the expiration ofthis additional term, a renewal application may be made. (See“Overview of the Relevant Laws and Regulations in Indonesia—Rights to Own and/or to Use—Hak Guna Bangunan (HGB/Rightto Build)”.)(See “Business and Properties—Mal Lippo Cikarang”.)49,250 sq mGFA as at 30 June 2007 . . . . . . . . . . 25,767 sq mNLA as at 30 June 2007 . . . . . . . . . . 17,974 sq m (2)NPI for Forecast Period 2007,Projection Year 2008 and ProjectionYear 2009 (S$’000) . . . . . . . . . . . . . . Forecast Period 2007—2,589Percentage of contribution to LMIRTrust’s Gross Rent for Forecast Period2007 . . . . . . . . . . . . . . . . . . . . . . . . . 6.8%Number of tenants as at 30 June2007 . . . . . . . . . . . . . . . . . . . . . . . . . 116Occupancy rate as at 30 June 2007. . 96.3%Key anchors / tenants . . . . . . . . . . . .24Projection Year 2008—5,548Projection Year 2009—5,729Matahari Department Store, Hypermart, Hero Supermarket,Studio 21 Cinema, Batik Keris and Toko Buku Utamabookstore (3)