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LIPPO MALLS INDONESIA RETAIL TRUST ANNUAL REPORT 2014
22. OTHER FINANCIAL LIABILITIES (CONT’D)
22C. Finance lease (Cont’d)
(b)
Goodwill compensation of Rp.1,500,000,000 that was paid as follows:
(i)
Rp.500,000,000 was paid on 20 December 2004; and
(ii)
Rp.1,000,000,000 was paid from 2005 until 2009 in 5 instalments of Rp.200,000,000 per year with
the first instalment commencing 1 February 2005.
(c)
Monitoring fee of Rp.5,000,000 per month including VAT that is to be paid quarterly on 15 January, 15 April,
15 July and 15 October from 2004 until 2024.
PT Duta Wisata Loka (“PT DWL”) entered into a BOT agreement with Governor of Special City of Jakarta. PT DWL has
the right to build, operate and transfer the property for a period of 33 years commencing June 1995.
PT DWL has the following payment obligations:
(a) Rp.19,500,000,000 including VAT that is to be paid by instalments from the year 1996 until 2021 as follows:
(i)
Rp.1,812,500,000 was paid in 1996;
(ii)
Rp.1,993,750,000 was paid in 2001;
(iii)
Rp.2,193,125,000 was paid in 2006;
(iv)
Rp.4,212,437,500 was paid in 2011;
(v)
Rp.4,453,681,250 is to be paid in 2016; and
(vi)
Rp.4,834,506,250 is to be paid in 2021.
PT DWL has entered into an agreement with the previous owner of Pluit Village, whereby the previous owner has
agreed to undertake the payment portion of the fee of Rp.732,050,000 in 2016 and Rp.805,255,000 in 2021.
(b)
Goodwill compensation of Rp.500,000,000 that was paid in 1995.
PT Anugrah Prima (“PT AP”) entered into a BOT agreement with Regional Government of City of Medan. PT AP has
the right to build, operate and transfer the property for a period of 25 years commencing July 2002.
PT AP has the following payment obligations:
(a)
US$1,089,770 including VAT that is to be paid by instalments of US$49,535 per year from the year 2005 until
2026.
(b)
Goodwill compensation of US$99,070 that was paid as follows:
(i)
US$84,000 was paid in 2002; and
(ii)
US$15,070 was paid in 2003.
PT Palembang Paragon Mall (“PT PPM”) entered into a BOT agreement with South Sumatera Provincial Government.
PT PPM has the right to build, operate and transfer the property for a period of 30 years commencing January 2011.
Notes to the Financial Statements
(Cont’d)
31 December 2014
