Lippo Plaza Kupang (part of Lippo Malls) is wholly owned, managed and controlled by PT Lippo Karawaci Tbk, Indonesia’s largest listed property company by total assets, revenues, and net profit, anchored by a large land bank and solid recurring income base. With its experience in developing malls and divesting them into Singapore listed real estate investment trust (REIT) – Lippo Malls Indonesia Retail Trust (“LMIR Trust”), serve to facilitate the Company’s asset-light strategy by enabling the Company to recycle capital as they step up the turnover of mall assets, allowing the Company to execute on its growth strategy of developing additional 15 new regional malls.