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Malang Town Square UnitsJalan Veteran No. 2, Malang, East JavaBrief description . . . . . . . . . . . . . . . .Locality information . . . . . . . . . . . . . .Title . . . . . . . . . . . . . . . . . . . . . . . . . .Year of building completion . . . . . . . . 2005Appraised value by Knight Frank as at30 June 2007 . . . . . . . . . . . . . . . . . . S$25.5 millionAppraised value by Colliers as at30 June 2007 . . . . . . . . . . . . . . . . . . S$25.8 millionNLA as at 30 June 2007 . . . . . . . . . . 11,065 sq m (1)NPI for Forecast Period 2007,Projection Year 2008 and ProjectionYear 2009 (S$’000) . . . . . . . . . . . . . . Forecast Period 2007—834Percentage of contribution to LMIRTrust’s Gross Rent for Forecast Period2007 . . . . . . . . . . . . . . . . . . . . . . . . . 2.4%40The Malang Town Square Units comprise three strata units onpart of the ground floor, upper ground floor, first floor and secondfloor of Malang Town Square, a mall conceptualised as aninternational lifestyle mall as well as the biggest and mostcomprehensive mall in Malang.The Malang Town Square Units are currently occupied byHypermart, Matahari Department Store and Timezone.Malang is the second largest city in the East Java province with apopulation of approximately 0.8 million and a regency populationof approximately 2.4 million people.The region is a popular tourist destination due to its naturalattractions (for example, Mount Bromo, one of Java’s largestvolcanoes), cool climate and colonial history. Malang also has alarge student population, being home to five universities(Brawijaya, State, Muhammadiyah, Widya Gama andMerdeka Universities).Malang Town Square, in which Malang Town Square Units arelocated, is a mall conceptualised as an international lifestyle mallas well as the biggest and most comprehensive mall in Malang.The centre has easy access to public transportation and issurrounded by exclusive residential communities and severaluniversities which have more than 50,000 students.Malang Town Square Units are constructed on HGB land titlesand are currently exclusively controlled by Matahari pursuant toKiosks Sale and Purchase Binding Agreement No. 031/PN-PPJB/X/03, dated 7 October 2003 between Matahari andPT Pendopo Niaga.The Kiosks Sale and Purchase Binding Agreement is evidenceof the parties’ intention to effect the sale and purchase of strataunits, but do not have the effect of transferring ownership.The strata titles are in the process of being issued by the localland office. Upon issuance, the strata titles will be purchased bythe relevant Retail Space Indonesian SPC.(See “Business and Properties—Malang Town Square Units”.)Projection Year 2008—1,723Projection Year 2009—1,751