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

Bandung Indah PlazaJalan Merdeka No. 56, Bandung, West JavaBrief description . . . . . . . . . . . . . . . . Bandung Indah Plaza is a four storey with three basement levelsretail mall with a carpark comprising 602 parking lots. It is locatedstrategically in the heart of the CBD of Bandung, the fourth mostpopulous city in Indonesia. The retail mall is easily accessiblefrom Jalan Merdeka, a major road which connects NorthBandung to South Bandung, and is surrounded bycommercial buildings and middle to upper income residentialareas. It is also attached to Hyatt Regency Hotel, one of theleading five-star hotels in Bandung. Bandung Indah Plaza isanchored by Matahari Department Store, Hypermart, YogyaSupermarket, a bookstore, a cinema and supported by a listof international and local tenants. It has recently completed aS$12.6 million expansion and renovation programme.Population catchment . . . . . . . . . . . . 124,947 households (1)Title . . . . . . . . . . . . . . . . . . . . . . . . . .28Bandung Indah Plaza is owned by PT Megah Semesta Abadiand was built pursuant to a BOT Scheme based on cooperationagreement on the renovation, development and management ofHotel Pakunegara, Bandung (Perjanjian Kerjasama PemugaranPembangunan dan Pengelolaan Hotel Pakunegara) betweenPerusahaan Daerah Jasa Dan Kepariwisataan Propinsi JawaBarat, and formerly known as Perusahaan Daerah Kerta WisataJawa Barat) and PT Bhuwanatala Indah Permai Tbk (formerlyknown as PT Bandung Indah Plaza Permai) (“Bandung IndahPlaza Cooperation Agreement”) and was novated by anovation agreement to PT Megah Semesta Abadi fromPT Bhuwanatala Indah Permai Tbk. on 29 December 2003.The Bandung Indah Plaza Cooperation Agreement, itsamendments and the novation agreement are jointly referredto as the “Bandung Indah Plaza BOT Agreement”.The term of the Bandung Indah Plaza BOT Agreement is for30 years as of the commencement of commercial operation andwill expire on 31 December 2030 and may be extended.The BOT Grantor has granted the BOT Grantee, the owner ofBandung Indah Plaza, the right to apply for a HGB title on top ofits HPL title. (See “Business and Properties—InformationRegarding the Title of the Properties—Hak Pengelolaan(“HPL”) titles”.)Bandung Indah Plaza was built on the following:(a)(b)HGB title No. 26/Citarum valid up to 19 August 2010; andThe HGB titles on top of HPL titles are as follows:(i)(ii)(iii)HGB titles No. 130/Citarum, No. 131/Citarum, andNo. 64/Citarum, valid up to 20 October 2017;HGB titles No. 65/Citarum and No. 69/Citarum,valid up to 8 September 2019; andHGB titles No. 89/Merdeka and 90/Merdeka, validup to 30 January 2021.Upon the expiry of the above HGB titles, the term of the HGBtitles can, subject to the provisions of the BOT Agreement, beextended for another term of up to 20 years. (See “Overview ofRelevant Laws and Regulations in Indonesia—Rights to Own