91
LIPPO MALLS INDONESIA RETAIL TRUST ANNUAL REPORT 2014
12. DISTRIBUTIONS (CONT’D)
Distribution Type (Cont’d)
Name of Distribution
Distribution declared subsequent to year end (final distribution) (Note 33)
Distribution Type
Income / Capital
Group and Trust
2014
2013
2014
2013
Cents
per unit
Cents
per unit
$’000
$’000
Tax-exempt income
(1)
:
0.48
0.40
11,718
9,695
Capital
(2)
:
0.23
0.16
5,878
4,111
Subtotal :
0.71
0.56
17,596
13,806
Total distributions
(3)
2.76
3.25
68,014
73,023
(1)
Unitholders are exempt from tax on such distributions.
(2)
Such distributions are treated as returns of capital for Singapore income tax purposes. For unitholders who are liable to Singapore income
tax on profits from the sale of the Trust’s units, the amount of capital distribution will be applied to reduce the cost base of their LMIR Trust
units for Singapore income tax purposes.
(3)
The Trust makes the distribution quarterly. The distribution rates above are based on the amount distributed quarterly divided by the units
outstanding as at the end of the relevant quarters.
The amount of the distributions paid in the year totalled $64,224,000 (2013: $75,376,000).
Current distribution policy:
The Trust’s current distribution policy is to distribute at least 90% (2013: at least 90%) of its tax-exempt income
(after deduction of applicable expenses) and capital receipts. The tax-exempt income comprises dividends received from
the Singapore tax resident subsidiaries. The capital receipts comprise amounts received by the Trust from redemption of
redeemable preference shares in the Singapore subsidiaries. The Trust has distributed 100% of its tax-exempt income
(after deduction of applicable expenses) and capital receipts to-date.
13. PLANT AND EQUIPMENT
Group
Plant and Equipment
2014
2013
$’000
$’000
Cost:
At beginning of year
4,558
3,949
Additions
2,232
1,498
Exchange difference adjustments
107
(889)
At end of year
6,897
4,558
Accumulated depreciation:
At beginning of year
1,234
794
Depreciation for the year
726
571
Exchange difference adjustments
29
(131)
At end of year
1,989
1,234
Net book value:
At beginning of year
3,324
3,155
At end of year
4,908
3,324
The depreciation expense is charged to statements of total return as property operating expenses.
Notes to the Financial Statements
(Cont’d)
31 December 2014
