SEO Version
18
LIPPO MALLS INDONESIA RETAIL TRUST
ANNUAL REPORT 2013
MANAGER’S REPORT
Market Review
Sources: World Bank, Statistics Indonesia
INDONESIAN KEY ECONOMIC INDICATORS
2013
2012
2011
2010
&DPOPNJD HSPXUI :P:
5.8%
Infation rate
8.4%
7.0
:FBS FOE FYDIBOHF SBUF *%3 4(%
9,612
"WFSBHF &YDIBOHF 3BUF BEPQUFE JO öOBODJBM TUBUFNFOUT *%3 4(%
8,305
*OUFSFTU SBUF $FOUSBM #BOL 3BUF
7.5%
:FBS *OEPOFTJBO (PWFSONFOU #POE 3BUF
8.4%
ECONOMIC REVIEW
*OEPOFTJBhT FDPOPNZ HSFX CZ BO BCPWF
GPSFDBTU
JO UIF MBTU RVBSUFS PG
XJUI B KVNQ JO FYQPSUT IFMQJOH UP FBTF
current account balance. This brings the
GVMM ZFBS
FDPOPNZ HSPXUI UP
CFBUJOHNBSLFU DPOTFOTVT GPSFDBTU PG
)PVTFIPME DPOTVNQUJPO XBT TUJMM UIF
NBJO FOHJOF PG FDPOPNJD HSPXUI JO
DPOUSJCVUJOH UP BQQSPYJNBUFMZ PG (%1
)PVTFIPME DPOTVNQUJPO XBT TVSQSJTJOHMZ
SFTJMJFOU
HSPXJOH CZ JO UIF TBNF
SBUF BT JO
EFTQJUF TQJLJOH JOøBUJPO
GSPN :P: CZ %FD
UP :P:
CZ %FD
5IF 4PVUIFBTU "TJBO OBUJPOhT FDPOPNJD
HSPXUI FYDFFEFE GPS NBOZ ZFBST
fueled by selling commodities such as
OJDLFM BOE DPBM UP $IJOB -PX JOUFSFTU SBUFT
pushed consumers to borrow heavily to
build houses and buy imported goods.
Accelerating infation due to subsidised
GVFM QSJDF IJLFT BOE FMFDUSJDJUZ UBSJò IJLF
were partly responsible for the economic
TMPXEPXO $IJOBhT TMPXJOH HSPXUI BMTP IJU
*OEPOFTJBhT DPNNPEJUZ FYQPSUT 5IF 6 4 h
NPWF BXBZ GSPN FYUSBPSEJOBSZ NPOFUBSZ
policies pushed global rates higher and
MFE UP FYQBUSJBUJPO PG GPSFJHO GVOET GSPN
Indonesia, pushing the rupiah down
NPSF UIBO EVSJOH .FBOXIJMF
*OEPOFTJBhT DFOUSBM CBOL JODSFBTFE JOUFSFTU
SBUFT CZ QFSDFOUBHF QPJOUT PWFS
which led to lower growth in the third and
GPVSUI RVBSUFS XIFO FDPOPNZ FYQBOEFE
BU UIF QBDF PG
BOE
SFTQFDUJWFMZ
0O UIF PUIFS IBOE
UIF FYQPSUT SPTF
JO 5IF USBEF TVSQMVT XBT
CJMMJPO
JO UIF MBTU UISFF NPOUIT PG
SFWFSTJOH
B
CJMMJPO EFöDJU JO UIF UIJSE RVBSUFS
ECONOMIC DEVELOPMENTS
"TTVNJOH OP GVSUIFS TVCTJEJTFE GVFM QSJDF
IJLFT JO FMFDUJPO ZFBS
NBSLFU FYQFDUT
JOøBUJPO UP TMPX GVSUIFS $VSSFOU BDDPVOU
defcit will likely to narrow further as well
boosted by the improving trade balance.
Market sentiment is improvingas evidenced
JO UIF SFCPVOEPG UIF$POTVNFS $POöEFODF
*OEFY i$$*w
$$* FOEFE UIF ZFBS BU
marked the third straightmonthof rebound
GSPN UIF USPVHI IJU JO 4FQUFNCFS
$$*
survey released by the Indonesian central
bank revealed that consumers continued
to be optimistic about job opportunities,
CVTJOFTT BDUJWJUJFT BOE JODPNF FYQFDUBUJPOT
affirming the confidence noted in the
JOEFY 5IF FYQFDUBUJPO PG UBNFS JOøBUJPO
UISPVHIPVU
XJMM DPOUJOVF UP TVQQPSU
consumer’s buoyant mood.
Anupwardsurge inhouseholdconsumption
EVSJOH FMFDUJPO ZFBS JT FYQFDUFE UP ESJWF
up spending growth. Bank Indonesia also
FTUJNBUFT UIBU FMFDUJPO SFMBUFE TQFOEJOH
will prop up annual gross domestic product
(%1
HSPXUI PG CFUXFFO BOE
QFSDFOU JO
RETAIL INDUSTRY
*O
BWFSBHF SFOUBM SBUFT JO +BLBSUB
JODSFBTFE NPEFSBUFMZ CZ
NBJOMZ
EVF UP UIF JOøVY PG OFX TIPQQJOH DFOUSFT
DBNF PQFSBUJPOBM EVSJOH
"T PG
%FD
UIF BWFSBHF CBTF SFOUBM SBUF
for specialty shop units on the ground foor
within premium locations was recorded at
*%3
QFS TRNQFSNPOUI
BO JODSFBTF
PG
:P: 5IF BWFSBHF TFSWJDF DIBSHF
XBT JODSFBTFE PG
GSPNQSFWJPVT ZFBS
Generally, the new shopping centres came
XJUI IJHIFS SFOUT XIFSFBT
UIF FYJTUJOH
malls actively engaged renovation and
refurbishment and adjusted their rental
SBUFT BT XFMM UP SF BMMPDBUF UFOBODZ NJY
"MPOH XJUI UIF $$* SFCPVOEJOH GPS UIF
UIJSE TUSBJHIU NPOUI JO %FDFNCFS
SFUBJM
sales continued to increase after the fuel
QSJDF IJLF PO +VOF
8IJMF B
planned rise in utility cost for bigger malls
NBZ EFOU UIFJS NBSHJOT CZ
SFUBJM
sales may remain resilient, helped by
FMFDUJPOT TQFOEJOH BOE UIF 8PSME $VQ
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