MANAGER’S REPORT
Financial Review
DISTRIBUTIONS
Distributable income for FY2015 was at
SGD85.6 million, which is an increase
of SGD17.5 million or 25.8% compared
to FY2014. This is mainly due to the
increase in the NPI and the positive
hedging gains.
For FY2015, LMIR Trust made
distribution of 3.10 cents per unit. This
is 0.34 cents (or 12.3%) above FY2014
distribution of 2.76 cents.
ASSETS
The regulatory annual revaluation
exercise for LMIR Trust’s portfolio was
completed on 31 December 2015
which recorded a total revaluation
of S$1.83 billion as at 31 December
2015, a decrease of 0.6% compared to
S$1.84 billion as at 31 December 2014.
Excluding the acquisition assets, the
revaluation exercise resulted in a 3.1%
decrease in the value of LMIR Trust’s
pre-acquisition portfolio in Indonesian
Rupiah terms.
Property
2015 Valuation
2014 Valuation
IDR’billion SGD’million
1
IDR’billion SGD’million
2
Bandung Indah Plaza
801.5
82.6
801.5
85.5
Cibubur Junction
485.3
50.0
492.5
52.5
Ekalokasari Plaza
375.8
38.7
409.0
43.6
Gajah Mada Plaza
751.4
77.4
752.8
80.3
Istana Plaza
737.6
76.0
730.7
78.0
Mal Lippo Cikarang
561.2
57.8
565.0
60.3
The Plaza Semanggi
1,232.2
126.9
1,342.2
143.2
Sun Plaza
1,693.7
174.5
1,680.4
179.3
Plaza Medan Fair
1,087.0
112.0
1,140.6
121.7
Pluit Village
1,146.0
118.1
1,305.1
139.2
Lippo Plaza Kramat Jati
565.0
58.2
573.7
61.2
Palembang Square Extension
248.1
25.6
256.1
27.3
Tamini Square
242.9
25.0
236.3
25.2
Palembang Square
642.6
66.2
641.4
68.4
Pejaten Village
970.0
99.9
958.4
102.2
Binjai Supermall
263.9
27.2
266.6
28.4
Lippo Mall Kemang
3
3,477.9
358.3
3,640.6
388.4
Lippo Plaza Batu
3
272.0
28.0
*
*
Palembang Icon
3
774.8
79.8
*
*
TOTAL RETAIL MALLS
16,328.9
1,682.2
15,792.9
1,684.7
Depok Town Square Units
208.1
21.4
207.2
22.1
Grand Palladium Units
173.5
17.9
188.0
20.1
Java Supermall Units
193.7
20.0
192.6
20.5
Malang Town Square Units
213.5
22.0
207.8
22.2
Mall WTC Matahari Units
165.1
17.0
169.7
18.1
Metropolis Town Square Units
230.7
23.8
256.6
27.4
Plaza Madiun Units
250.7
25
.
8
242.5
25.9
TOTAL RETAIL SPACES
1,435.3
147.9
1,464.4
156.3
TOTAL PORTFOLIO
17,764.2
1,830.1
17,257.3
1,841.0
1
Exchange Rate (IDR/SGD): 9,707
2
Exchange Rate (IDR/SGD): 9,374
3
Including intangible assets
* Newly acquired malls in 2015
ANNUAL REPORT 2015
31
