1.
GENERAL
Lippo Malls Indonesia Retail Trust (“LMIR Trust” or the “Trust”) is a Singapore-domiciled unit trust constituted
pursuant to the Trust Deed dated 8 August 2007 (“Trust Deed”) entered into between LMIRT Management Ltd
(the “Manager”) and HSBC Institutional Trust Services (Singapore) Limited (the “Trustee”), governed by the laws
of the Republic of Singapore.
The Trust is listed on the Singapore Exchange Securities Trading Limited (“SGX-ST”).
The financial statements are presented in Singapore dollars, recorded to the nearest thousands, unless otherwise
stated, and they cover LMIR Trust and its subsidiaries (collectively the “Group”).
The board of directors of the Manager approved and authorised these financial statements for issue on
22 March 2016.
The principal activity of the Group and of the Trust is to invest in a diversified portfolio of income-producing real
estate properties in Indonesia. These are primarily used for retail and/or retail-related purposes. The primary
objective is to deliver regular and stable distributions to Unitholders and to achieve long-term growth in the net
asset value per unit.
The registered office of the Manager is located at 50 Collyer Quay, #06-07 OUE Bayfront, Singapore 049321.
The financial position of the Group, its cash flows, liquidity position and borrowing facilities are described in the
notes to the financial statements. In addition, the notes to the financial statements include the Group’s objectives,
policies and processes for managing its capital; its financial risk management objectives; details of its financial
instruments; and its exposures to credit risk, foreign currency risk, interest rate risk and liquidity risk. The current
liabilities are more than the current assets. The Group’s forecasts and projections, taking account of reasonably
possible changes in performance, show that the Group should be able to operate within its current facilities. The
Group has considerable financial resources together with good relationships with its bankers, tenants and suppliers.
As a consequence, the Manager believes that the Group is well placed to manage its business risks successfully.
Accordingly, the management continues to adopt the going concern basis in preparing the financial statements.
Accounting convention
The financial statements have been prepared in accordance with the recommendations of the Statement of
Recommended Accounting Practice 7 “Reporting Framework for Unit Trusts” (“RAP 7”) issued by the Institute of
Singapore Chartered Accountants and the applicable requirements of the Code on Collective Investment Schemes
(“CIS Code”) issued by the Monetary Authority of Singapore (“MAS”) and the provisions of the Trust Deed. RAP
7 requires that the accounting policies should generally comply with the principles relating to recognition and
measurement of the Financial Reporting Standards (“FRS”) issued by the Accounting Standards Council. The
financial statements are prepared on a going concern basis under the historical cost convention except where
a FRS requires an alternative treatment (such as fair values) as disclosed where appropriate in these financial
statements. The accounting policies in FRSs may not be applied when the effect of applying them is immaterial.
The disclosures required by FRSs need not be made if the information is immaterial.
NOTES TO THE FINANCIAL STATEMENTS
31 DECEMBER 2015
LIPPO MALLS INDONESIA RETAIL TRUST
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