LMIR issue 1 for 1 right.

LMIR TRUST TO ACQUIRE TWO QUALITY RETAIL MALLS
FOR S$388 MILLION
TO BE PARTIALLY FUNDED BY A 1-FOR-1 RIGHTS ISSUE
- 1-for-1 rights issue at S$0.31 per rights unit represents a discount of 42.6% to
the closing price of S$0.54 per unit
- Rights issue to raise gross proceeds of approximately S$337 million
- Proceeds raised to partially fund the acquisitions of Pluit Village in Jakarta
and Plaza Medan Fair in Medan, two strategically located quality retail assets
with attractive net property income yields
- Acquisitions enlarge LMIR Trust’s portfolio to 10 retail malls and 7 retail
spaces, valued at approximately S$1.46 billion

Pluit Village, a five-level retail mall located in Jakarta, Indonesia is to be acquired
from entities linked to the Sponsor of LMIR Trust, PT Lippo Karawaci Tbk,
for S$234 million1 and Plaza Medan Fair, a four-level retail mall
located in Medan, Indonesia, from Asiana Investment Limited, an unrelated third
party, for S$154 million1. The purchase considerations represent a 5.7% discount
to the average valuation for Pluit Village and a discount of 4.1% to the valuation
of Plaza Medan Fair.

To partially fund these acquisitions, the Manager has proposed a one-for-one
renounceable rights issue (“rights issue”) of 1,086,516,497 new units in LMIR
Trust at the issue price of S$0.31, representing a 42.6% discount to the closing
price of S$0.54 on September 30, 2011. This rights issue is expected to raise
gross proceeds of approximately S$337 million1. The balance of the purchase
consideration will be drawn from the S$150 million 30-month term loan (secured
on September 28, 2011) as well as internal cash.

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388m - 337m = 51m. (51 m will comes from cash or the 150m loan facility drawn recently)

Current it has 110m cash + recently drawn out 200m on 28th sept (the 200m will be use to finance 125 debt + future acquisition).

Asset will grow to around 1.4b. gearing will be less than <10% now.

The problem now is: Are these 2 new properties good?