Circular - Lippo Malls Indonesia Retail Trust - Investor Relations

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VALUATION CERTIFICATEProperty Description Indicative Market Valueas at 30 June 2012Property BriefSite Detail and TenureIDR247,000,000,000/-The subject property is Binjai The site is like rectangular in shape with land (TWO HUNDRED FORTYSuper Mall (BSM) with total netleasable area of 23,022 squaremeters (excluding casual leasingarea of about 13,267 square meters. It isgenerally flat and is higher than the frontingroad.SEVEN BILLION RUPIAHS)area of about 654 squaremeters).Based on the photocopy of the land titledocument provided by BSM, we understand thatLocationBSM is located at Jalan SoekarnoHatta No. 14, Timbang langkatSub District, East Binjai District,the BSM is covered under 1 (one) LeaseholdCertificate (Hak Guna Bangunan Certificate –“SHGB”) No. 93, registered under the name of PTBinjai City, North SumateraTrias Mitra Investama. It was issued in Binjai onProvince, Indonesia. It is on thesouth side of Jalan Soekarno Hattaand north side of Jalan SoekarnoHatta and or within radius of:17 September 2012 and will be expired on 2September 2016. The land area is about 13,267square meters as stated by Gambar Situasi No.03/Timbang Langkat/2012 dated 17 September About 800 meters to westfrom Binjai City Rail Station;2012. About 1 kilometer to theBuilding Descriptionsouthwest from downtown ofBinjai City;BSM is a 3-storey shopping center. The grossfloor area is about 37,271 square meters with About 1.7 kilometers to thesouthwest from Mayor Officeof Binjai City;net leasable area of about 23,022 squaremeters (excluding casual leasing area of about654 square meters). The parking capacity is 591lots for car and 850 for motor cycle.VALUATION & ADVISORY SERVICESivD-12
APPENDIX EEXISTING INTERESTED PERSON TRANSACTIONSDetails of the Existing Interested Person Transactions entered into between LMIR Trust and certain associates of the Sponsor during the course of thecurrent financial year are set out below. These Existing Interested Person Transactions relate to leases signed by the various interested persons astenants of the September 2012 Portfolio and the Recent Properties.No. Interested PersonNature of Transaction(Property Rental Revenue) Area (sq m) Start DateValue ofTransaction(Rp.)Value ofTransaction Percentage of(S$) (1) NTA/NAV (2)1 PT. Times PrimaIndonesia(Times Book Store)Rental monthly, at CibuburJunction110.65 From 1 January 2012to 19 September 201287,634,800 11,142.11 0.0010%2 PT. Times PrimaIndonesia(Times Book Store)Rental monthly, at BandungIndah Plaza74.99 From 1 January 2012to 16 September 201257,772,296 7,345,31 0.0006%3 PT. Times PrimaIndonesia(Times Book Store)Rental monthly, at IstanaPlaza70.4 From 1 January 2012to 18 September 201250,688,000 6,444.60 0.0006%4 PT. Times PrimaIndonesia(Times Book Store)Rental monthly, at PlazaSemanggi36 From 1 January 2012to 26 September 201227,572,400 3,505.62 0.0003%Total 223,667,496 28,437.65 0.0025%Notes:(1) Based on the Illustrative Rupiah Exchange Rate of S$1.00 to Rp.7,865.2.(2) Based on the NTA/NAV of LMIR Trust of S$1,153.8 million as at 30 September 2012.(3) This excludes the master leases of the 7 Retail Spaces which were entered into as at the time of the initial public offering of LMIR Trust.These Existing Interested Person Transactions have been subject to the internal control procedures established by the Manager to ensure that suchtransactions are undertaken on normal commercial terms and are not prejudicial to the interests of LMIR Trust or its minority Unitholders. Theseprocedures include the review and approval of such transactions by the Manager’s audit committee. These transactions comply with the requirementsof Chapter 9 of the Listing Manual.E-1
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CIRCULAR DATED 26 NOVEMBER 2012THIS
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TABLE OF CONTENTSPageCORPORATE INFO
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SUMMARYThe following summary is qua
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Key Benefits of the Proposed Acquis
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METHOD OF FINANCINGThe Manager inte
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RESOLUTION 2: PROPOSED ACQUISITION
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INDICATIVE TIMETABLEThe timetable f
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and are in line with the Manager’
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KJPP WR and KJPP RHP were appointed
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Acquisition is an Interested Party
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The Trustee had, on 23 October 2012
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(vi)the lease agreement made by and
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Based on the Manager’s experience
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(iii)The relative figures for each
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Therefore, each of the Pejaten Vill
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4.6. Interests of Directors and Sub
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The reduction in the absolute amoun
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5.2. Six months ended 30 June 2012P
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The maximum possible increase in th
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(v)(vi)LMIR Trust appoints an indep
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7.3. On the Whitewash ResolutionThe
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IMPORTANT NOTICEThe value of Units
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(viii) other investments not covere
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EGM : The extraordinary general mee
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Mandatory Offer : A general offer m
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Sea Pejaten : Sea Pejaten Pte. Ltd.
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APPENDIX AINDEPENDENT FINANCIAL ADV
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The Manager intends to finance the
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“6.3. Rationale for the Whitewash
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We have relied upon the representat
Page 63 and 64: 2.1.2. Opportunity to Enhance the E
Page 65 and 66: The Valuation Reports assess: the m
Page 67 and 68: Based on the financial year ended 3
Page 69 and 70: Six months ended 30 June 2012Pro-fo
Page 71 and 72: Selected comparable companies in So
Page 73 and 74: (i)(ii)all and any losses which the
Page 75 and 76: AnnouncementDateCompletionDateREITP
Page 77 and 78: The Independent Directors should no
Page 79 and 80: APPENDIX BINFORMATION ABOUT THE ENL
Page 81 and 82: The table below sets out a summary
Page 83 and 84: Gross revenue for 6M2012 Rp.23.6 bi
Page 85 and 86: 2.3 Tamini Square2.3.1 Description
Page 87 and 88: Occupancy rate (as at 30September 2
Page 89 and 90: The mall has a good tenancy mix whi
Page 91 and 92: (5) Ekalokasari PlazaEkalokasari Pl
Page 93 and 94: (10) Plaza Medan FairPlaza Medan Fa
Page 95 and 96: Malang Town Square, in which Malang
Page 97 and 98: 3.3 Major Usage Mix for the Septemb
Page 99 and 100: Usage Mix (by Rental Income for the
Page 101 and 102: APPENDIX CTAX CONSIDERATIONSThe fol
Page 103 and 104: APPENDIX DSUMMARY VALUATION REPORTS
Page 105 and 106: To : HSBC Institutional Trust Servi
Page 107 and 108: forecasts of income, expenses and c
Page 109 and 110: D-7
Page 111 and 112: To : HSBC Institutional Trust Servi
Page 113: forecasts of income, expenses and c
Page 117 and 118: APPENDIX FRELATED TENANCY AGREEMENT
Page 119 and 120: NOTICE OF EXTRAORDINARY GENERAL MEE
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Circular - Lippo Malls Indonesia Retail Trust - Investor Relations

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