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Leased MallsLevis. Vacant tenancies created from the former Yogya department store provide opportunities toconsolidate the fashion offering on this level.Level 2 is anchored by the top level of the Matahari Department Store and Toko Gunung Agung bookstore.Lifestyle retailers such as X-Treem and MG Music cater to the youth segment. A Yogya supermarketanchors the southern end of this level, but it will be replaced upon its lease expiry with additional specialtyretailers in 2008.Level 3 provides the centre’s major entertainment offering, comprising Cinema 21 (6 screens), Timezoneand a new food court, created in the former Matahari Department Store space. Other food tenancies arealso on this level.Table 4.3.3 Major Tenants as at 30 June 2007, Bandung Indah PlazaTenant Expiry date % Gross monthly rentMatahari . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31-May-15 11.6%Hypermart . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31-May-15 6.5%Toko Buku Gunung Agung . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23-May-11 3.9%McDonald’s. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16-May-09 2.4%Rice Bowl . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29-Jun-11 2.2%Extreme Store. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15-Sep-11 2.2%Felice . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16-Mar-11 1.9%Cinema 21 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31-Dec-15 1.6%TexasChicken ........................................ 4-Aug-13 1.4%Timezone . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31-May-15 1.4%Other tenants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Varies 64.9%Total Centre ......................................... 100.0%Source: Jones Lang LaSalle Research and Consulting, PT. Lippo Karawaci, TbkNote: Yogya Supermarket to be replaced with specialty retailing4.3.4 Target marketBIP targets the middle to middle-upper income market, particularly the youth market. The tenancy mix isconsidered appropriate for this target market, providing a mix of local, national and internationally brandedretailers.The centre also caters to a relatively large local workforce, being centrally located in the CBD.4.3.5 Trade area analysisTo assist with the definition of trade areas, a market research survey of visitors to the major leased mallswas undertaken in February and March 2007. A total of seven (7) centres were included in the study. Thesurveying was conducted by TNS on behalf of Jones Lang LaSalle for the purposes of this assessment.The main findings of the market research in relation to the profile of shoppers at BIP is as follows:• BIP is the most popular centre in the portfolio with young couples, a reflection of the youthfulcharacteristics of the customer profile, especially during weekdays. Older people (30-40 years)generally visit the centre during weekends;• As with all centres in the portfolio, Saturdays and Sundays are the most popular days to visit BIP. Peakhours are between 12:00 and 16:00. Most customers spend between one and three hours in the centre;• Approximately 50% of BIP’s customers visit the centre at least once a week;• The most popular reason given for visiting BIP is sightseeing or comparison shopping. A high proportionof customers indicated they visited BIP to watch a movie;F-70
Leased Malls• In terms of reasons for choosing BIP, accessibility is the key reason, including good access via publictransport and close proximity to school/college. The centre is perceived to have a complete mix of storesand is a popular meeting place for the younger generation;• Visitors surveyed were generally very satisfied with facilities, the tenancy mix and the level of security atBIP.The trade area for BIP has been defined based on the findings of 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.Based on these considerations, the centre’s PTA has been defined to cover a number of areas. Accordingto the market research survey, the areas where the level of market penetration is highest for BIP areCoblong, Sukasari, Bandung Wetan, Cibeunying Kidul, Sumur Bandung, Cicadas and Lengkong.The secondary catchment includes areas where BIP attracts visitors from, however the level of customerdraw (market share penetration) is below the level achieved in the PTA. Areas considered to fall within theSTA include Pancoran Mas, Serang Baru, Gunung and Putri.The trade area, including major competing centres within the trade area, is illustrated in the below map.Figure 4.3.3 Bandung Indah Plaza trade area1. Istana Plaza2. Bandung Trade Center3. Bandung Supermall4. Ciwalk (Cihampelas Walk)5. Dago Plaza6. Parisj Van Java7. Riau JunctionN3 Km6245173Source: Jones Lang LaSalle Research and Consulting & RTRW Kota Bandung (Pemkot Bandung)As at 2005, the PTA included a population of 534,000 persons while the STA included a further562,000 persons. Based on recent population trends in the area, the primary and secondary tradeareas are forecast to grow by 1.0% per annum between 2007 and 2011, increasing to an indicative forecastpopulation of 566,000 (PTA) and 597,000 (STA) respectively.The target market for BIP are middle and upper income households, which represent 90% of allhouseholds in the PTA and 81% of households in the STA.F-71
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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 )
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Appendix EADDENDUM—STATEMENT OF A
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Appendix FINDEPENDENT REPORT ON THE
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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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Page 421 and 422: Overview of Indonesia and its Econo
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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 and 452: Leased MallsFigure 4.1.1 Cibubur Ju
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: Leased MallsFigure 4.3.2 Bandung In
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
Page 503 and 504: Leased Malls4.7.3 Tenant mixThe cur
Page 505 and 506: Leased Mallsprimarily the city of B
Page 507 and 508: Leased MallsTable 4.7.5: Main compe
Page 509 and 510: Retail Spaces Malls5. RETAIL SPACES
Page 511 and 512: Retail Spaces MallsIn addition, loc
Page 513 and 514: Retail Spaces MallsThe store target
Page 515 and 516: Retail Spaces MallsTable 5.3.1: Cen
Page 517 and 518: Retail Spaces MallsFigure 5.3.3: Gr
Page 519 and 520: Retail Spaces MallsThis relatively
Page 521 and 522: 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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