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Retail Spaces Malls5.4.2 DescriptionCommencing operations in 2004, Metropolis Town Square comprises about 60,734 sq.m of NLA.The subject strata units are currently occupied by Hypermart, Matahari Department Store and Timezone.Other major stores represented in Metropolis Town Square include a bookstore (Utama Bookstore) and acinema (Cineplex 21).Table 5.4.1 Relevant information, Metropolis Town SquareCentre nameMetropolis Town SquareYear Completed. . . . . . . . . . . . . . . . 2004NLA(sq.m)................... 60,734Car Park Spaces . . . . . . . . . . . . . . . 800Motor Cycle Spaces . . . . . . . . . . . . 1,200Strata Unit Area (sq.m.). . . . . . . . . 15,248*Major Tenants in the Centre . . . . . Hypermart, Matahari, Timezone, Utama Bookstore, Cineplex 21Source: 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 processed.Strata title shop units in Metropolis Town Square are dominated by non-branded fashion retailers,particularly targeted at youth segment. Electronics and telecommunication retailers are highlyrepresented on the Second Floor.The centre targets the middle income segment, particularly young families from residential estates inTangerang.In general, the centre has performed well in relation to the number of shop openings with the estimatedoccupancy rate at above 80%. As a strata title mall, it is reasonably well tenanted and well laid out in termsof zoning.Matahari Department StoreThe Matahari Department Store in Metropolis Town Square is one of three Matahari stores in Tangerang.The department store opened in 2004 but has since relinquished some space to allow Hypermart toexpand.Despite its reduced size, the store accommodates most product lines including fashion, accessories,cosmetics and homewares. The store has performed well since opening and achieved good growth inrevenues.The store targets the middle income segment, as does the Matahari store in Mall WTC Matahari, differingfrom Matahari store in Lippo Karawaci Supermal, which targets the middle-upper income segment. Mostother department stores in Tangerang mainly target the middle to middle-lower income segment. Thesestores include Robinson in Plaza Tangerang, Diamond in D’Best, Ramayana in ITC BSD and PojokBusana in Plaza Serpong.HypermartHypermart is one of six hypermarkets in Tangerang. The other hypermarkets include Giant in SerpongTown Square and a stand-alone Giant hypermarket along Jalan Serpong Raya, Carrefour stores in D’BestPlaza and ITC BSD, as well as other Hypermart stores in Mall WTC Matahari and Lippo KarawaciSupermal. The strongest competition to Hypermart comes from Carrefour in D’Best Plaza, due to itsproximity.5.4.3 Trade area analysisBased on discussions with the store manager of Matahari and Hypermart, the PTA for Metropolis TownSquare covers approximately the whole of Tangerang.F-116
Retail Spaces MallsThis relatively high population growth together with changing patterns in customer shopping behavioraway from traditional markets towards modern shopping centres is expected to continue to drive demandwithin modern shopping centres in Tangerang.The location of Metropolis Town Square within Tangerang, together with the locations of major competingcentres, is illustrated in the map below.Figure 5.4.2: Metropolis Town Square trade area map1. Supermal Karawaci2. D’Best Plaza3. Plaza Tangerang4. Serpong Town Square5. Mal ITC Matahari6. Plaza BSD7. Plaza Serpong8. ITC BSD9. BSD Junction3Metropolis Town Square2147568 9Source: Jones Lang LaSalle Research and Consulting & Jakarta Street Atlas (Gunther W. Holtorf)The total population of the PTA in 2007 is approximately 1.6 million. This locality is a growing urban areawith an average population growth of about 3.4% over the past five years, driven by strong growth inresidential estate developments. It is expected that the population in the area will continue to increase at asimilar level over the next five years.Between 2007 and 2011, target market household growth in the PTA is forecast to be significant,increasing at an average annual rate of 5.2% per annum. By 2011, total target households is forecastto increase to approximately 400,000 households.Table 5.4.2 Metropolis Town Square trade area: population growth2007 (f) 2011 (f)%Growth2007-2011(p.a.)Primary Trade Area . . . . . . . . . . . . . . . . . . . . . Population* 1,186,507 1,358,702 3.4%Households* 327,446 401,153 5.2%Source: AC Nielsen; Economic Intelligence Unit; Jones Lang LaSalle Research and Consulting* Note: Total Population and Households only includes those population and households assumed tofall within the target market (i.e., Socio Economic Status (SES) categories A-C, described as middleand upper income households).F-117
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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
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Leased MallsTaking the survey and t
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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 and 514: Retail Spaces MallsThe store target
Page 515 and 516: Retail Spaces MallsTable 5.3.1: Cen
Page 517: Retail Spaces MallsFigure 5.3.3: Gr
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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