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Leased MallsTable 4.1.2 Tenancy mix by level, Cibubur JunctionLevelTenant MixLower Ground. . . . . . . . . . . Hypermart, food court, exhibition space/casual leasing, other specialtiesGround . . . . . . . . . . . . . . . . Fashion, accessories, exhibition spaceUpper Ground. . . . . . . . . . . Matahari, fashion, beautyFirst . . . . . . . . . . . . . . . . . . Matahari, Sports Warehouse, fashionSecond. . . . . . . . . . . . . . . . Matahari, Timezone, lifestyle & entertainment, electronicsThird. . . . . . . . . . . . . . . . . . Fitness First, cinemasSource: Jones Lang LaSalle Research and ConsultingFigure 4.1.2 Cibubur Junction: lower ground food courtSource: Jones Lang LaSalle Research and ConsultingThe centre is positioned to provide one stop shopping convenience by serving the convenience anddiscretionary retail needs of the local community.The lower ground floor is anchored by Hypermart, which accounts for approximately 25.8% of the NLA.This level is supported by a food court, exhibition space on short term leases and a range of retail services.The ground floor comprises predominantly branded fashion and accessories retailers and quality food andbeverage retailers. The central atrium is utilised for short term exhibition space.The Matahari Department Store anchors the upper ground and first floors and is expanding into level 2.The expanded Matahari store accounts for 16.7% of the centre NLA. Upper Ground and Level 1 comprise amix of specialty retailing including fashion, children’s wear, accessories and beauty. A large SportsWarehouse store is on Level 1 while Karisma Bookstore is on Upper Ground.Level 2 is focussed on entertainment and lifestyle retailing. This level includes the extended Mataharistore, Timezone and the entrance to Fitness First and Cinema 21. There is also a large number of smalltenancies, including electronics and handphone retailers.The top level comprises Fitness First and Cinema 21, which has four screens.F-50
Leased MallsTable 4.1.3 Major tenants as at 30 June 2007, Cibubur JunctionTenantExpiry date% Grossmonthly rentHypermart . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27-Jul-15 14.2%Matahari . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30-Aug-15 11.2%Fitness First . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14-Apr-21 3.0%Sport Warehouse . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9-Dec-10 2.1%Cinema 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23-Mar-16 1.6%Karisma Bookstore . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30-Nov-10 1.5%Timezone . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30-Oct-15 1.5%Other tenants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Varies 64.9%Total Centre ............................................... 100.0%Source: Jones Lang LaSalle Research and Consulting, PT. Lippo Karawaci, TbkNote: Excludes extension to Matahari Department Store, Level 24.1.4 Target marketCJ targets the growing number of middle and middle-upper income households within the region. To caterfor this target market, there has been a particular focus on attracting well known, internationally brandedretailers to the centre. CJ is the only centre within the immediate region that effectively targets this market.4.1.5 Trade area analysisTo assist with the definition of trade areas, a market research survey of visitors to major leased malls wasundertaken in February and March 2007. A total of seven (7) centres were included in the study. The surveywas conducted by TNS on behalf of Jones Lang LaSalle for the purposes of this assessment. The mainfindings of the market research in relation to the profile of shoppers at CJ are as follows:• Visitors to CJ are relatively young (80% of those surveyed are less than 35 years of age), with the vastmajority (i.e. 98%) nominating their ethnicity as Malay;• Visitation to CJ is much higher on weekends than weekdays, and shopper traffic is particularly high inthe afternoon (between 16:00 and 19:00);• CJ is more ‘destinational’ in appeal, as it has the lowest frequency of visitation of all centres included inthe portfolio. However, when patrons visit the centre they stay for long periods: CJ has the highestproportion of visitors who stay for two hours or more of all centres in the portfolio where visitors weresurveyed;• CJ recorded a very low proportion of survey respondents who were visiting the mall alone (i.e. 6%), whilethe proportion of respondents visiting with their partners or spouse is very high (i.e. 40% in total). Mealsare the main reason for visiting the mall, followed by comparison shopping, grocery shopping andmovies.• Of all the malls included in the market research study, CJ has the third highest level of overall customersatisfaction. Visitors surveyed were generally very satisfied with the facilities, the tenancy mix and thelevel of security at CJ.The trade area for CJ has been defined based on the findings on customer origin from the market researchsurvey, the strength of the subject site, the location and relative strength of competing retail facilities andaccessibility to the centre, including the road network, public transport and physical barriers.According to the market research survey, the areas where the level of market penetration is highest for CJare Ciracas, Cipayung, Pasar Rebo and Cimanggis. The primary trade area (PTA) also includes thedistricts of Kramat Jati, Gunung Putri and Pancoran Mas.The STA includes areas form which CJ attracts visitors. However, the level of customer draw (market sharepenetration) is below the level achieved in the PTA. Areas considered to fall within the STA include DurenSawit, Jagakarsa, Pasar Minggu, Bekasi Selatan and Pondok Gede.F-51
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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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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 and 450: Overview of PortfolioMall WTC Matah
Page 451: Leased MallsFigure 4.1.1 Cibubur Ju
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
Page 501 and 502: 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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