REPORT ON THE FINANCIAL STATEMENTS
We have audited the accompanying financial statements of Lippo Malls Indonesia Retail Trust (the “Trust”) and its subsidiaries
(the “Group”), as set out on pages 63 to 144 which comprise the statements of financial position of the Group and of the
Trust and the statement of portfolio of the Group as at 31 December 2015, the statements of total return, statements of
distribution, statements of changes in Unitholders’ funds of the Group and of the Trust, and the statement of cash flows
of the Group for the reporting year then ended, and significant accounting policies and other explanatory information.
MANAGER’S RESPONSIBILITY FOR THE FINANCIAL STATEMENTS
LMIRT Management Ltd (the “Manager” of the Trust) is responsible for the preparation and fair presentation of these financial
statements in accordance with the recommendations of Statement of Recommended Accounting Practice 7 “Reporting
Framework for Unit Trusts” issued by the Institute of Singapore Chartered Accountants, and for such internal control as the
Manager determines is necessary to enable the preparation of financial statements that are free frommaterial misstatement,
whether due to fraud or error.
AUDITOR’S RESPONSIBILITY
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in
accordance with Singapore Standards on Auditing. Those standards require that we comply with ethical requirements and
plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material
misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial
statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material
misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor
considers internal control relevant to the Trust’s preparation and fair presentation of financial statements in order to
design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on
the effectiveness of the Trust’s internal control. An audit also includes evaluating the appropriateness of accounting policies
used and the reasonableness of accounting estimates made by the Manager of the Trust, as well as evaluating the overall
presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
OPINION
In our opinion, the financial statements present fairly, in all material respects, the financial positions of the Group and of
the Trust as at 31 December 2015, and the total return, distribution, changes in Unitholders’ funds of the Group and of
the Trust and cash flows of the Group for the reporting year ended on that date in accordance with the recommendations
of Statement of Recommended Accounting Practice 7 “Reporting Framework for Unit Trusts” issued by the Institute of
Singapore Chartered Accountants.
RSM Chio Lim LLP
Public Accountants and
Chartered Accountants
Singapore
22 March 2016
Partner-in-charge of audit: Chow Khen Seng
Effective from year ended 31 December 2013
INDEPENDENT AUDITOR’S REPORT
TO THE UNITHOLDERS OF LIPPO MALLS INDONESIA RETAIL TRUST
LIPPO MALLS INDONESIA RETAIL TRUST
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