Circular - Lippo Malls Indonesia Retail Trust - Investor Relations

LIPPO MALLS INDONESIA RETAIL TRUST(Constituted in the Republic of Singaporepursuant to a trust deed dated 8 August 2007 (as amended))Directors of the ManagerMr Albert Saychuan Cheok (Chairman & IndependentNon-Executive Director)Ms Viven Gouw Sitiabudi (Executive Director of the Board andChief Executive Officer)Mr Douglas Chew (Non-Executive Director)Mr Bunjamin J. Mailool (Non-Executive Director)Mr Lee Soo Hoon, Phillip (Independent Non-Executive Director)Mr Goh Tiam Lock (Independent Non-Executive Director)Registered Office50 Collyer Quay#06-07 OUE BayfrontSingapore 04932126 November 2012To:Unitholders of Lippo Malls Indonesia Retail TrustDear Sir/Madam1. APPROVALS SOUGHTThe following sets out the resolutions for which approval is sought by the Manager fromUnitholders. Approval by way of an Ordinary Resolution (as defined herein) is required inrespect of Resolutions 1, 2 and 3 set out below:(1) Resolution 1: Acquisition of Pejaten Village from an Interested Person (OrdinaryResolution) (which is conditional upon the passing of Resolution 3);(2) Resolution 2: Acquisition of Binjai Supermall from an Interested Person (OrdinaryResolution) (which is conditional upon the passing of Resolution 3); and(3) Resolution 3: The Whitewash Resolution (Ordinary Resolution).The Manager will only proceed with the Pejaten Village Acquisition if approval for bothResolutions 1 and 3 is obtained from Unitholders. The Manager will only proceed with theBinjai Supermall Acquisition if approval for both Resolutions 2 and 3 is obtained fromUnitholders. For the avoidance of doubt, completion of the Pejaten Village Acquisition andthe Binjai Supermall Acquisition are not inter-conditional upon each other. However, each ofthe Pejaten Village Acquisition and the Binjai Supermall Acquisition is conditional upon theWhitewash Resolution because these are interested party transactions (as defined in theProperty Funds Appendix) and under paragraph 5.6 of the Property Funds Appendix,acquisitions from Interested Parties are required to be paid in Units.2. THE PROPOSED TRANSACTIONS2.1. Rationale for the Proposed AcquisitionsThe Manager believes that the Proposed Acquisitions will bring the following keybenefits to Unitholders:2.1.1. Acquisition of Retail Mall Assets at Discounts to the Average of theIndependent Valuations offering Stable Occupancies and Leasing upOpportunitiesThe Proposed Acquisitions represent an opportunity for LMIR Trust to acquireincome producing quality properties below the average of the independentvaluations from the Independent Valuers, namely KJPP RHP and KJPP WR,10