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LIPPO MALLS INDONESIA RETAIL TRUST ANNUAL REPORT 2013 41
LMIRT Management Ltd (the“Manager”or “LMIRT Management”) is appointed as the manager of Lippo Malls Indonesia Retail Trust (the
“LMIR Trust”) in accordance with the terms of the Trust Deed dated 8 August 2007, as amended or supplemented (the “Trust Deed”).
The Manager and its ofcers are licensed under the Securities and Futures Act, Cap 289 (“SFA”) to conduct Real Estate Investment
Trust Management with efect from 6 May 2010.
LMIRT Management is committed to good corporate governance as it believes that such self-regulation is essential to protect the
interests of the Unitholders, as well as critical to the performance of the Manager.
It uses the Code of Corporate Governance 2012 (the “Code”) as its benchmark for its corporate governance policies and practices.
The following segments describe the Manager’s main corporate governance policies and practices.
THE MANAGER OF LMIR TRUST
The Manager has general power of management over the assets of LMIR Trust.
LMIRT Management’s main responsibility is to manage LMIR Trust’s assets and liabilities for the beneft of Unitholders. The Manager’s
key fnancial objectives are to provide Unitholders of LMIR Trust with a competitive rate of return on their investment by ensuring
regular and stable distributions to Unitholders and to achieve long-term growth in the net asset value of LMIR Trust.
The role of the Manager includes setting strategic direction of LMIR Trust and recommending to HSBC Institutional Trust Services
(Singapore) Limited, as trustee of LMIR Trust (the “Trustee”), the acquisition, divestment and enhancement of assets of LMIR Trust in
accordance with its stated investment strategy. The Manager is also responsible for the risk management of LMIR Trust.
Other functions and responsibilities of the Manager include:
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with, or on behalf of, LMIR Trust at arm’s length;
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performance of LMIR Trust’s assets;
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Manual issued by SGX-ST, the Code on Collective Investment Schemes issued by Monetary Authority of Singapore (“MAS”)
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all relevant contracts;
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marketing, promotion, coordination and operations management) for LMIR Trust assets pursuant to the property management
agreements signed collectively and for each mall.
LMIR Trust, constituted as a real estate investment trust, is managed by the Manager and accordingly, it has no personnel of its
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Compliance ofcer handles compliance with MAS’ requirements.
CORPORATE GOVERNANCE REPORT