83
LIPPO MALLS INDONESIA RETAIL TRUST ANNUAL REPORT 2014
3.
RELATED PARTY RELATIONSHIPS AND TRANSACTIONS (CONT’D)
3B. Related parties other than related companies: (Cont’d)
Significant related party transactions:
In addition to the transactions and balances disclosed elsewhere in the notes to the financial statements,
this item includes the following:
Group
Trust
2014
2013
2014
2013
$’000
$’000
$’000
$’000
The Manager
(1)
Manager’s management fees expense (Note 7)
9,408
10,349
9,408
10,349
Manager’s acquisition fees
(2)
3,620
–
3,620
–
The Trustee
Trustee’s fees expense
300
322
300
322
The Property Manager
(3)
Property Manager fees expense
3,478
3,320
–
–
Master Lessee
(4)
Rental revenue
(13,463)
(14,551)
–
–
Affiliates of Sponsor
(5)
Rental revenue, service charge and
utilities recovery
(6)
(8,538)
(7,779)
–
–
Acquisition of Lippo Mall Kemang
362,000
–
–
–
Rental guarantee income from vendor of
Pluit Village
–
(5,461)
–
(5,461)
Indemnity recovery for loss of income
from vendor of Pluit Village
–
(1,239)
–
(1,239)
Compensation income for delay in
completion of asset enhancement
from vendor of Binjai Supermall
(503)
(1,199)
(503)
(1,199)
The Manager held 97,993,616 (2013: 85,566,080) units in the Trust at the end of the year.
(1)
The parent company of the Manager is PT Lippo Karawaci Tbk (“Sponsor”), incorporated in Indonesia and it is a substantial
unitholder.
(2)
Please refer to Note 14 on the acquisition fees payable to the Manager.
(3)
The Property Manager of the properties is PT Lippo Malls Indonesia, a wholly-owned subsidiary of PT Lippo Karawaci Tbk.
(4)
The Master Lessees of the retail spaces are PT Matahari Putra Prima Tbk and PT Multipolar Tbk, in which the Sponsor has an
interest.
(5)
The Affiliates of Sponsor are PT First Media Tbk, Yayasan Universitas Pelita Harapan, PT Bank National Nobu, PT Matahari Putra
Prima Tbk, PT Gratia Prima Indonesia, PT Matahari Graha Fantasi, PT Momo Trimultiprima, PT Nusantara Trimultiprima, PT Cinemaxx
Global Pasifik, PT Internux, PT Indonesia Media TV, PT Trias Mitra Investama, Excel Investment Limited, and PT Almaron Perkasa.
The Affiliates of the Sponsor are entities that either have common shareholders with the Sponsor, or in which the Sponsor has an
interest.
(6)
The amount also includes revenue from Lippo Mall Kemang under Sponsor Lessees with PT Multiguna Selaras Maju, PT Harapan
Insan Mandiri, and PT Violet Pelangi Indah.
Notes to the Financial Statements
(Cont’d)
31 December 2014
