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Leased Malls4. LEASED MALLS4.1 Cibubur Junction4.1.1 Regional context and local economyCibubur is located in the DKI Jakarta Province, approximately 26 kilometres south east of the centre ofJakarta. As the capital city of Indonesia, Jakarta is the administrative and commercial centre of Indonesia.Cibubur Junction (CJ) is strategically located within a growing middle to middle-upper class district. Sinceopening in July 2005, CJ has quickly established itself as the key local retail destination for middle tomiddle-upper income residents within the region.CJ is located along Jalan Raya Jambore in East Jakarta, which is located a short distance from theJagorawi toll road. The centre has good accessibility and visibility from this major road. Cibubur is alsoserviced by public transport, including metromini and angkot, as well as taxi services.Local industries within the trade area include the following plants and factories along Jl. Raya Bogor:• PT Indomilk—milk products• PT Bayer Indonesia—pharmaceutical• PT Amcol Graha—electronics• PT United Plastics Indonesia—plastics• PT ICI—paints• Pfizer—pharmaceuticalsUniversitas Indonesia Campus, one of the most prominent universities in Indonesia, is locatedapproximately eight kilometres from CJ.Since opening, CJ has quickly become the most prominent shopping centre for the local community andhas captured a significant amount of expenditure from local middle-upper income residents that waspreviously leaving the trade area. As a result of providing these residents with a viable alternative, CJ hasreduced the propensity of trade area residents to conduct discretionary shopping in Central Jakarta.The centre provides a one stop shopping destination to meet the everyday convenience shoppingrequirements of residents in its immediate catchment area. In addition, the centre possessesdestinational appeal and a good mix of non-food retailing to meet the needs of its growing trade area.4.1.2 DescriptionCommencing operation in July 2005, CJ is a modern shopping centre comprising some 34,139 sq.m ofNLA over five levels with a rooftop and basement. Table 4.1.1 provides details of the centre.F-48
Leased MallsFigure 4.1.1 Cibubur Junction—main external entranceSource: Jones Lang LaSalleTable 4.1.1 Centre details, Cibubur JunctionCharacteristicsAddress . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Jl. Raya JamboreYear Opened . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2005Last Refurbishment / Extension . . . . . . . . . . . . . . Ongoing tenant rezoningNLA (sq.m): . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34,139Site Area (sq.m) . . . . . . . . . . . . . . . . . . . . . . . . . . 31,987CarParking ............................. 611Motor Cycle Parking . . . . . . . . . . . . . . . . . . . . . . . 500Levels ................................. 6Opening Hours . . . . . . . . . . . . . . . . . . . . . . . . . . . Weekdays: 10am - 10pmWeekends: 10am - 10pmOccupancy Rate. . . . . . . . . . . . . . . . . . . . . . . . . . 86.4% (as at 30 June 2007)Major Retail Tenants:Majors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Hypermart, MatahariMini Majors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Fitness First, Studio 21 Cinemas, SportWarehouse, Karisma BookstoreSelected Other . . . . . . . . . . . . . . . . . . . . . . . . . . . A&W, Pizza Hut, Starbucks, Giordano, Body Shop,Polo Ralph Lauren, Charles & Keith, Guardian,Planet SurfTotal Retail Tenancies. . . . . . . . . . . . . . . . . . . . . . 163Shopper Traffic. . . . . . . . . . . . . . . . . . . . . . . . . . . Weekdays: 15,000Weekends: 25,000 - 30,000Source: Jones Lang LaSalle Research and Consulting, PT. Lippo Karawaci, Tbk4.1.3 Tenant mixSince opening, centre management has taken care to ensure an appropriate tenancy mix is developed atCJ. This has meant that vacancy levels have been slightly higher than would otherwise be the case, asvacancy has been tolerated in favour of leasing space to tenants that do not complement the carefullyformulated tenant mix strategy. Most notably, the centre has successfully targeted a number ofinternationally branded retailers in order to appropriately cater for middle to middle-upper incomeresidents within the trade area. These retailers include The Body Shop, Giordano, Polo Ralph Lauren,Charles & Keith, Guardian, Planet Surf, Starbucks Coffee and Pizza Hut.F-49
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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
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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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Page 399 and 400: Appendix EPropertiesLandarea (m 2 )
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
Page 407 and 408: Report instructionsAbout Jones Lang
Page 409 and 410: Executive summaryIMPLICATIONS FOR R
Page 411 and 412: Overview of Indonesia and its Econo
Page 425 and 426: Retail Market OverviewTable 2.1.1 I
Page 427 and 428: Retail Market Overview2.3 Changing
Page 429 and 430: Retail Market Overviewretailers hav
Page 431 and 432: Retail Market OverviewCompletionyea
Page 433 and 434: Retail Market Overview2.7.5 Carrefo
Page 435 and 436: Retail Market OverviewIn view of th
Page 437 and 438: Overview of PortfolioAs the adminis
Page 439 and 440: Overview of PortfolioFigure 3.1.4:
Page 441 and 442: Overview of PortfolioFigure 3.2.2 B
Page 443 and 444: Overview of PortfolioFigure 3.2.4 S
Page 445 and 446: Overview of PortfolioFigure 3.2.6 M
Page 447 and 448: Overview of PortfolioFigure 3.3.1 L
Page 449: Overview of PortfolioMall WTC Matah
Page 453 and 454: Leased MallsTable 4.1.3 Major tenan
Page 455 and 456: Leased MallsTable 4.1.4 Cibubur Jun
Page 457 and 458: Leased Malls4.1.7 SWOT analysisTabl
Page 459 and 460: Leased Malls4.2 Plaza Semanggi4.2.1
Page 461 and 462: Leased Mallsnumber of international
Page 463 and 464: Leased MallsTaking the survey and t
Page 465 and 466: Leased Malls• There are two major
Page 469 and 470: Leased Mallsterms of its very promi
Page 471 and 472: Leased MallsFigure 4.3.2 Bandung In
Page 473 and 474: Leased Malls• In terms of reasons
Page 475 and 476: Leased Mallsand approximately 38,00
Page 477 and 478: Leased MallsWhile BIP is likely to
Page 479 and 480: Leased MallsFigure 4.4.2 Istana Pla
Page 481 and 482: Leased Malls• The main reason sta
Page 483 and 484: Leased Malls• Cihampelas Walk is
Page 485 and 486: Leased MallsFigure 4.4.4: Istana Pl
Page 487 and 488: Leased MallsOn the completion of th
Page 489 and 490: Leased MallsThe target market for M
Page 491 and 492: Leased MallsThe current Hypermart e
Page 493 and 494: Leased MallsFigure 4.6.2 Gajah Mada
Page 495 and 496: Leased Malls• Of all the malls in
Page 497 and 498: 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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