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Retail Spaces MallsTable 5.2.2 Malang Town Square trade area: population growth2007 (f) 2011 (f)%Growth2007-2011(p.a.)Primary Trade Area . . . . . . . . . . . . . . . . . . . Population* 441,880 482,218 2.2%Households* 147,293 160,739 2.2%Source: AC Nielsen; Economic Intelligence Unit; Jones Lang LaSalle Research and Consulting* Note: Total Population and Households only includes those population and households assumed to fallwithin the target market (i.e., Socio Economic Status (SES) categories A-C, described as middle andupper income households).5.3 Grand Palladium Medan5.3.1 Regional context and local economyMedan, the provincial capital of North Sumatra, is the largest city in Sumatra, and the fourth largest in thenation after Jakarta, Surabaya and Bandung. It is a cosmopolitan city with a population of over 2 millionplus a regency population of an additional 1.8 millon (e.g Deli Serdang and Binjai).Medan is renowned as a growing commercial centre in the region mainly with agriculture and industrybusinesses. The city has developed from a tobacco plantation village in the 19th century to a majorgovernment and commercial centre at present.Based on the 2000 National Census and Central Statistics Bureau projections, North Sumatra Provincehad a population of nearly 12.5 million people in 2005, the most populous province outside of Java. The cityhas a mix of communities, predominantly consisting of Batak, Melayu, Chinese, Javanese, and Tamil.Grand Palladium Medan is the newest strata title shopping centre in Greater Medan, commencingoperations in October 2005. The centre is located along Jl. Kapten Maulana Lubis within the CBD. Ithas easy access to the other city amenities and is situated approximately 2.5 kilometres north of PoloniaInternational Airport.Figure 5.3.1: Grand Palladium Medan: externalSource: Jones Lang LaSalle5.3.2 DescriptionGrand Palladium Medan comprises about 29,272 sq.m of NLA. The centre is located in the centre ofMedan, surrounded by office and government buildings.The subject strata units are currently occupied by Hypermart, Matahari Department Store and Timezone.Other major stores represented at Grand Palladium Medan include a cinema (Cineplex 21).F-112
Retail Spaces MallsTable 5.3.1: Centre details, Grand Palladium MedanCentre nameGrand Palladium MedanYear Completed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2005NLA (sq.m) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29,272Car Park Spaces . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,200Motor Cycle Spaces . . . . . . . . . . . . . . . . . . . . . . . . . . . 700Strata Unit Area (sq.m.) . . . . . . . . . . . . . . . . . . . . . . . 13,417*Major Tenants in the Centre . . . . . . . . . . . . . . . . . . . Hypermart, Matahari, Cineplex 21, TimezoneSource: Jones Lang LaSalle Research and Consulting* Note: The total area is based on Kiosks Sale and Purchase Binding Agreements and may not be thesame as reflected on the Strata Title Ownership Certificates that are currently being processedStrata title shop units in Grand Palladium Medan are dominated by non-branded fashion retailers targetingthe middle income segments. Due to its location in the CBD area, visitors to the centre are mainly peoplewho work in the office buildings in the surrounding area on weekdays and from people in the surroundingresidential areas on weekends.The centre currently has some vacancies on the upper levels and this may improve over time as additionalstrata units are sold and the centre becomes more established.Matahari Department StoreThe Matahari Department Store in Grand Palladium Medan is the smallest of the four Matahari stores inMedan, the other stores being located at Thamrin Plaza, Medan Fair and Medan Mall. Matahari occupies5,020 sq.m. It is not considered a full-line department store, with its range limited to fashion, beauty andaccessories. The store targets the middle to middle-upper income segment.HypermartThe Hypermart is one of only three hypermarkets in Medan with other hypermarkets being the Hypermartin Sun Plaza and Carrefour in Medan Fair. Currently, the store with the Hypermart at Sun Plaza dominatesthe Medan hypermarket segment and compete directly with other hypermarkets within the city. Futurecompetition will arrive in July 2007, with the opening of another Hypermart in the Binjai area.5.3.3 Trade area analysisBased on discussions with the store manager of Matahari and Hypermart, the PTA for Grand PalladiumMedan covers the central areas of Medan. The centre’s strategic location along a major road (Jl. KaptenMaulana Lubis) creates high exposure to passing traffic from Jalan Gatot Subroto and good access to thesurrounding population base, which includes prime residential districts.F-113
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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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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
Page 463 and 464: Leased MallsTaking the survey and t
Page 465 and 466: Leased Malls• There are two major
Page 467 and 468: Leased Malls4.2.7 SWOT analysisTabl
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 499 and 500: Leased Malls4.6.7 SWOT analysisTabl
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: Retail Spaces MallsThe store target
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
Page 523 and 524: Retail Spaces MallsMadiun are locat
Page 525 and 526: Retail Spaces MallsFigure 5.6.3 Pla
Page 527 and 528: Retail Spaces MallsThe centre has t
Page 529 and 530: Appendix GTERMS, CONDITIONS AND PRO
Page 531 and 532: Appendix G(15) The Manager reserves
Page 533 and 534: Appendix GAdditional Terms and Cond
Page 535 and 536: Appendix G(10) By completing and de
Page 537 and 538: Appendix GAdditional Terms and Cond
Page 539 and 540: Appendix GWhere your Electronic App
Page 541 and 542: Appendix GApplication to the Manage
Page 543 and 544: Appendix GTerms and Conditions for
Page 545 and 546: Appendix HLIST OF PRESENT AND PAST
Page 547 and 548: Appendix H(6) Mr Tan Boon LeongCurr
Page 549 and 550: Appendix HCurrent DirectorshipsMapl
Page 551 and 552: Appendix HCurrent DirectorshipsMapl
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Page 555 and 556: LIPPO-MAPLETREE INDONESIA RETAIL TR
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