NOTES TO THE FINANCIAL STATEMENTS
(CONT’D)
31 DECEMBER 2015
3.
RELATED PARTY RELATIONSHIPS AND TRANSACTIONS (CONT’D)
3A.
Related party transactions (cont’d):
Group
Trust
2015
2014
2015
2014
$’000
$’000
$’000
$’000
The Manager
(1)
Manager’s management fees expense (Note 7)
11,166
9,408
11,166
9,408
Manager’s acquisition fees (Note 14)
1,069
3,620
1,069
3,620
The Trustee
Trustee’s fees expense
335
300
335
300
The Property Manager
(2)
Property Manager fees expense (Note 5)
4,223
3,478
–
–
Master Lessees
(3)
Rental revenue
(12,818)
(13,463)
–
–
Affiliates of Sponsor
(4)
Rental revenue, service charge and
utilities recovery
(5)
(32,059)
(8,538)
–
–
Acquisition of Lippo Mall Kemang
–
362,000
–
–
VAT paid on behalf by an affiliate of Sponsor
–
(34,781)
–
–
Fees recoverable relating to put option for Lippo
Mall Kemang
531
–
531
–
Compensation income for delay in completion
of asset enhancement from vendor of Binjai
Supermall
–
(503)
–
(503)
(1)
The parent company of the Manager is PT Lippo Karawaci Tbk (“Sponsor”), incorporated in Indonesia
and it is a substantial Unitholder.
(2)
The Property Manager of the properties is PT Lippo Malls Indonesia, a wholly-owned subsidiary of PT
Lippo Karawaci Tbk.
(3)
The Master Lessees of the retail spaces are PT Matahari Putra Prima Tbk and PT Multipolar Tbk, in which
the Sponsor has an interest.
(4)
The Affiliates of the Sponsor are PT First Media Tbk, Yayasan Universitas Pelita Harapan, PT Bank
National Nobu, PT Matahari Putra Prima Tbk, PT Gratia Prima Indonesia, PT Matahari Graha Fantasi,
PT Momo Trimultiprima, PT Matahari Department Store Tbk, PT Nusantara Trimultiprima, PT Cinemaxx
Global Pasifik, PT Internux, PT Sky Parking Utama, and PT Almaron Perkasa. The Affiliates of the Sponsor
are entities that either have common shareholders with the Sponsor, or in which the Sponsor has an
interest.
(5)
The amount also includes revenue from Lippo Mall Kemang under Sponsor Lessees with PT Multiguna
Selaras Maju, PT Harapan Insan Mandiri, and PT Violet Pelangi Indah.
ANNUAL REPORT 2015
93
