LIPPO-MAPLETREE - Lippo Malls Indonesia Retail Trust - Investor ...

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LIPPO-MAPLETREE INDONESIA RETAIL TRUSTSPONSORPT. Lippo Karawaci TbkMenara Matahari, 22nd floorJl. Boulevard Palem Raya No. 7Lippo Karawaci Tangerang 15811, Banten, IndonesiaMANAGERLippo-Mapletree Indonesia Retail Trust Management Ltd.78 Shenton Way#05-01 Lippo CentreSingapore 079120SOLE FINANCIAL ADVISER TO THE SPONSORSOLE FINANCIAL ADVISER TO THE OFFERINGPT. Ciptadana CapitalUBS AG, acting through its business group,UBS Investment BankCitra Graha 8th FloorOne Raffles QuayJalan Jend. Gatot Subroto Kav 35-36#50-01 North TowerJakarta 12950, IndonesiaSingapore 048583JOINT LEAD MANAGERS, ISSUE MANAGERS AND UNDERWRITERSUBS AG, acting through itsbusiness group,UBS Investment BankOne Raffles Quay#50-01 North TowerSingapore 048583BNP Paribas Capital(Singapore) Ltd.20 Collyer Quay#08-01 Tung CentreSingapore 049319UNIT REGISTRAR ANDUNIT TRANSFER OFFICEBoardroom Corporate & Advisory Services Pte. Ltd.(formerly known as Lim Associates (Pte) Ltd)3 Church Street#08-01 Samsung HubSingapore 049483LEGAL ADVISERSOversea-Chinese BankingCorporation Limited65 Chulia Street#29-02/04 OCBC CentreSingapore 049513TRUSTEEHSBC Institutional Trust Services(Singapore) Limited21 Collyer Quay#14-01 HSBC BuildingSingapore 049320Legal Adviser to the Offering, and to the Manager, the Sponsor and the VendorsAllen & Gledhill LLPOne Marina Boulevard #28-00Singapore 018989Legal Adviser to the Underwritersas to Singapore LawStamford Law Corporation9 Raffles Place#32-00 Republic PlazaSingapore 048619Legal Adviser to the Underwriters as toU.S. federal securities and English lawsLatham & Watkins LLP9 Raffles Place#42-02 Republic PlazaSingapore 048619Legal Adviser to the Manager and theSponsor as to Indonesian LawLegal Adviser to the Vendorsas to Indonesian LawLegal Adviser to the Underwriters as toIndonesian LawMakes & Partners Law Firm Hadiputranto Hadinoto & Partners Ery Yunasri & PartnersMenara Batavia 7th FloorJI.K.H. Mas Mansyur Kav. 126Jakarta 10220IndonesiaThe Jakarta Stock ExchangeBuildingTower II, 21st FloorSudirman Central Business DistrictJl. Jendral Sudirman Kav. 52-53Jakarta 12190, IndonesiaGraha Niaga 11th FloorJI. Jenderal Sudirman Kav. 58Jakarta 12190IndonesiaRSM Chio Lim18 Cross Street #09-01Marsh & McLennan CentreSingapore 048423INDEPENDENT SINGAPORE TAX ADVISERErnst & YoungOne Raffles QuayNorth Tower, Level 18Singapore 048583INDEPENDENT VALUER TO THE MANAGERKnight Frank / PT. Willson Properti AdvisindoWisma Nugra Santana#17-03 Jl. Jend. Sudirman Kav. 7-8Jakarta 10220, IndonesiaLegal Adviser to the TrusteeShook Lin & Bok LLP1 Robinson Road#18-00 AIA TowerSingapore 048542INDEPENDENT REPORTING ACCOUNTANTSRSM Aryanto Amir Jusuf & Mawar(RSM AAJ Associates)INDEPENDENT INDONESIAN RETAIL PROPERTY CONSULTANTPT Jones Lang LaSalleJakarta Stock Exchange Building Tower 128th floor Jl Jenderal Sudirman Kav 52-53Jakarta 12190, IndonesiaPlaza ABDA 10th FloorJl. Jend.Sudirman Kav.59Jakarta 12190IndonesiaINDEPENDENT INDONESIAN TAX ADVISERPB & Co.Menara Imperium 27th FloorJl. H.R. Rasuna Said Kav. 1Jakarta 12980IndonesiaINDEPENDENT VALUER TO THE TRUSTEEColliers International / PT Penilai10F World Trade CentreJl Jenderal Sudirman Kav 29-31Jakarta 12920, Indonesia
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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
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Leased Mallsterms of its very promi
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Leased MallsFigure 4.3.2 Bandung In
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Leased Malls• In terms of reasons
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Leased Mallsand approximately 38,00
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Leased MallsWhile BIP is likely to
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Leased MallsFigure 4.4.2 Istana Pla
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Leased Malls• The main reason sta
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Leased Malls• Cihampelas Walk is
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Leased MallsFigure 4.4.4: Istana Pl
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Leased MallsOn the completion of th
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Leased MallsThe target market for M
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Leased MallsThe current Hypermart e
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Leased MallsFigure 4.6.2 Gajah Mada
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Leased Malls• Of all the malls in
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Leased Mallshypermart. The centre a
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Leased MallsTable 4.6.7: Rental pos
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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
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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