106
LIPPO MALLS INDONESIA RETAIL TRUST ANNUAL REPORT 2014
22. OTHER FINANCIAL LIABILITIES (CONT’D)
22C. Finance lease (Cont’d)
PT PPM has the following payment obligations:
(a) Rp.3,750,000,000 that is to be paid by instalments from year 2011 until 2040 as follows:
(i)
Rp.100,000,000 per year for the first 5 years;
(ii)
Rp.110,000,000 per year for the second 5 years;
(iii)
Rp.120,000,000 per year for the third 5 years;
(iv)
Rp.130,000,000 per year for the fourth 5 years;
(v)
Rp.140,000,000 per year for the fifth 5 years; and
(vi)
Rp.150,000,000 per year for the sixth 5 years.
(b)
40% retribution tax from the net parking income received by PT PPM each year.
The fixed rate of interest for finance lease is 14% per year. The finance lease is on fixed repayment term and no
arrangements have been entered into for contingent rental payments.
The carrying amount of the lease liabilities is not significantly different from the fair value.
23. OTHER LIABILITIES, NON-CURRENT
Group
2014
2013
$’000
$’000
Deferred income
86,009
80,324
This is for the rental received in advance from certain tenants.
24. TRADE AND OTHER PAYABLES, CURRENT
Group
Trust
2014
2013
2014
2013
$’000
$’000
$’000
$’000
Trade payables:
Outside parties and accrued liabilities
20,998
11,874
11,616
3,458
Related parties (Note 3)
37,958
267
–
–
Subtotal
58,956
12,141
11,616
3,458
Other payables:
Loan payable to a subsidiary
(1)
–
–
480,738
335,152
Subsidiaries (Note 3)
–
–
116,109
45,451
Other payables
12,026
12,081
457
457
Subtotal
12,026
12,081
597,304
381,060
Total trade and other payables, current
70,982
24,222
608,920
384,518
(1)
This amount is loan payable to LMIRT Capital Pte Ltd of $480,738,000 (2013: $335,152,000) (Note 22B). The loan payable agreements
provide that they are unsecured, with fixed interest rates ranging from 4.25% to 5.875% (2013: 4.25% to 5.875%) per annum and
repayable on demand. The carrying amount is a reasonable approximation of fair value (Level 2).
Notes to the Financial Statements
(Cont’d)
31 December 2014
