Manager’s Report
Financial Review
GROSS RENTAL INCOME
Gross Rental Income for the FY2014 was SGD137.0 million,
which is 10.2% lower than FY2013. The decrease was mainly
due to the depreciation of IDR against SGD by 11.1%, which
was partly reduced by the positive rental reversion in IDR and
THE ADDITION OF ,IPPO -ALL +EMANG IN $ECEMBER
NET PROPERTY INCOME
Net property income (“NPI”) for FY2014 was at
SGD126.0 million, which is SGD17.4 million or 12.1% lower
compared to FY2013. This is mainly due to the increase in
PROPERTY OPERATING AND MAINTENANCE EXPENSES
Sun Plaza
11.0%
Pluit Village
10.0%
Plaza Medan Fair
9.0%
The Plaza Semanggi
9.0%
Bandung Indah Plaza
8.0%
Pejaten Village
8.0%
Cibubur Junction
6.0%
Istana Plaza
6.0%
Gajah Mada Plaza
5.0%
Palembang Square
5.0%
Mal Lippo Cikarang
4.0%
,IPPO 0LAZA +RAMAT *ATI
0ALEMBANG 3QUARE %XTENSION
Tamini Square
2.0%
Binjai Supermall
1.0%
Ekalokasari Plaza
1.0%
,IPPO -ALL +EMANG
Metropolis Town Square
2.0%
Plaza Madiun
2.0%
Depok Town Square
1.0%
Grand Palladium
1.0%
Java Supermall
1.0%
Malang Town Square
1.0%
Mall WTC Matahari
1.0%
Sun Plaza
11.0%
Plaza Medan Fair
9.0%
Pluit Village
9.0%
Bandung Indah Plaza
8.0%
Pejaten Village
8.0%
The Plaza Semanggi
8.0%
Cibubur Junction
6.0%
Istana Plaza
6.0%
Gajah Mada Plaza
5.0%
Mal Lippo Cikarang
5.0%
Palembang Square
4.0%
,IPPO 0LAZA +RAMAT *ATI
0ALEMBANG 3QUARE %XTENSION
Tamini Square
2.0%
Binjai Supermall
1.0%
Ekalokasari Plaza
1.0%
,IPPO -ALL +EMANG
Depok Town Square
2.0%
Malang Town Square
2.0%
Metropolis Town Square
2.0%
Plaza Madiun
2.0%
Grand Palladium
1.0%
Java Supermall
1.0%
Mall WTC Matahari
1.0%
30
LIPPO MALLS INDONESIA RETAIL TRUST ANNUAL REPORT 2014
