NOTES TO THE FINANCIAL STATEMENTS
(CONT’D)
31 DECEMBER 2015
20.
TOTAL UNITHOLDERS’ FUNDS
Group
Trust
2015
2014
2015
2014
Net assets attributable to
Unitholders at beginning of the
year ($’000)
1,149,730
1,009,551
1,173,318
1,107,365
Net assets attributable to
Unitholders at end of the year
($’000)
1,075,115
1,149,730
1,118,724
1,173,318
Units in issue (Note 21)
2,797,814,196 2,701,802,668 2,797,814,196 2,701,802,668
Net assets attributable to
Unitholders per unit (in cents)
38.43
42.55
39.99
43.43
The foreign currency translation reserve comprises foreign exchange differences arising from the translation
of the financial statements of foreign operations.
Issues in 2015:
In 2015, the Trust acquired:
(1)
Lippo Plaza Batu, which is located at Jalan Diponegoro RT. 07 RW. 05, Sub District of Sisir, District of
Batu, City of Batu, Province of East Java, Indonesia, for a total purchase consideration of $26,852,000;
and
(2)
Palembang Icon, which is located at Jalan POM IX, Sub District of Lorok Pakjo, District of llir Barat I, City
of Palembang, Province of South Sumatera, Indonesia, for a total consideration of $80,029,000.
The acquisitions of Lippo Plaza Batu and Palembang Icon were carried out by the Trust indirectly via its subsidiaries,
namely PalladiumProperties Pte Ltd, Detos Properties Pte Ltd and PT PalladiumMegah Lestari for Lippo Plaza Batu,
and Picon1 Holdings Pte Ltd and Picon2 Investments Pte Ltd for Palembang Icon, respectively. The acquisitions were
funded from the issuance of new units, bank borrowings and the Group’s operating cashflows. The management’s
rationale for the acquisitions of Lippo Plaza Batu and Palembang Icon was to benefit from the stable occupancies
in these malls located in strategic locations with sustainable retail traffic.
On 5 August 2015, 67,567,000 units (“Consideration Units”) were issued at an issue price of $0.37 per unit as
part of the consideration for the acquisitions of Lippo Plaza Batu and Palembang Icon. The Consideration Units,
upon issue and allotment, rank pari passu in all respect with the units prior to the Consideration Units, and are
entitled to any distributions from the period from 5 August 2015, being the date on which the Consideration
Units were issued.
LIPPO MALLS INDONESIA RETAIL TRUST
110
