The following is the text of a report and valuation certificate, prepared for the purpose of inclusion in this prospectus, received from the property r, Francis Lau & Co., (Surveyors) Ltd., independent professional property r. RHL INTERNATIONAL Directors AcrossAsia Multimedia Limited Rooms 4207-8, 42nd Floor, Tower One, Lippo Centre, 89 Queensway, Hong Kong Dear Sirs, 6th July, 2000 Re: Valuation of Properties in Hong Kong, Singapore, and Malaysia 1. INSTRUCTION In accordance with the instructions from AcrossAsia Multimedia Limited (referred to as the Company ) for us to the properties (the properties ) held by the Company and it subsidiaries (together referred to as the Group ), we confirm that we have carried out property inspections, made relevant enquiries and obtained such further information as we consider necessary for the purpose of providing our opinion of the open market s of the properties as at 30th April, 2000 (referred to as the valuation date ). This letter which forms part of our valuation report explains the basis and methodology of valuation, and clarifies the title of the properties and set out assumptions made and other qualifications. 2. BASIS OF VALUATION Our valuations are our opinion of the open market, which we would define as intended to mean the best price at which the sale of an interest in property would have been completed unconditionally for cash consideration on the valuation date, assuming: (i) a willing seller; 214
(ii) (iii) (iv) (v) that, prior to the valuation date, there had been a reasonable period (having regard to the nature of the property and the state of the market) for the proper marketing of the interests, for the agreement of price and terms and for the completion of the sale; that the state of the market, level of s and other circumstances were, on any earlier assumed date of exchange of contracts, the same as on the valuation date; that no account is taken of any additional bid by a purchaser with a special interest; and that both parties to the transaction had acted knowledgeably, prudently and without compulsion. 3. VALUATION METHODOLOGY In valuing the properties, the direct comparison method is adopted where comparison based on price information of comparable properties is made. Comparable properties of similar size, character and location are analysed and carefully weighted against all the respective advantages and disadvantages of each property in order to arrive at a fair comparison of capital s. In undertaking our valuation of the property which is held for future development, we have considered its development or redevelopment potential. The rented properties have no commercial due to prohibition against assignment of the properties or otherwise due to the lack of substantial profit rents. 4. ASSUMPTIONS Our valuations have been made on the assumption that the owner sells the properties in the open market in their existing state without the benefit of deferred term contracts, leasebacks, joint ventures, management agreements or any similar arrangements which would serve to affect the s of the properties. For the properties which are held by the Company on long term Government Leases, we have assumed that the Company has a free and uninterrupted right to use the properties for the whole of the unexpired term of its Government Leases. Vacant possession is assumed for the properties owned and occupied by the Company. Other special assumptions of each property, if any, have been stated in the footnotes of the valuation certificate for each corresponding property. 215
5. TITLE INVESTIGATION We have been provided with extracts of title documents relating to the properties. However, we have not searched the original documents to verify ownership of the properties or to verify the existence of any lease amendments which do not appear on the copies handed to us. All legal documents disclosed in this report are for reference only and no responsibility is assumed for any legal matters concerning the legal title to the property interests set out in this report. 6. LIMITING CONDITIONS We have inspected the exterior of the properties and, where possible, we have also inspected the interior of all the premises d but no structural surveys has been made. In the course of our inspection, we did not note any serious defects. We are not, however, able to report that the properties are free from rot, infestation or any other structural defects. No tests were carried out on any of the services. All dimensions, measurements and areas are only approximates. We have relied to a considerable extent, on the information provided by the Company and have accepted advice given to us by the Company on such matters as statutory notices, easements, tenure, occupation, site and floor areas and in the identification of the properties. We must point out that we have not carried out site investigations to determine the suitability of the ground conditions or the services of the properties for future development. Our valuations are on the basis that these aspects are satisfactory and that no extraordinary expense or delay will be incurred during the construction period. We have had no reason to doubt the truth and accuracy of the information provided to us by the Company. We have also been advised by the Company that no material facts have been omitted from the information supplied. No allowance has been made in our valuation for any charges, mortgages or amount owing on any property interests nor for any expense or taxation which may be incurred in effecting a sale. We have assumed that the properties are free from encumbrances, restrictions and outgoings of an onerous nature which could affect their s. 216
7. REMARKS We have d the properties in Hong Kong Dollar (HK$). Whenever appears the conversions of Singaporean Dollars (S$), n Rupiah (Rp) and Malaysian Ringgit (RM$) into HK$ are based on the factors of HK$1.00 to S$0.2193, HK$1.00 to Rp1,020.72 and HK$1.00 to RM$0.49 with reference to the respective prevailing exchange rates on the valuation date. We enclose herewith the summary of valuation and the valuation certificates. Yours faithfully, For and on behalf of Francis Lau & Co., (Surveyors) Ltd. Serena S.W. Lau AHKIS AAPI RPS (GP) Managing Director Tse Wai Leung BSc ARICS AHKIS RPS(GP) Director Francis Lau & Co., (Surveyors) Ltd. has over twenty seven years and twenty years of experience in Hong Kong and the PRC property market respectively. Ms. Serena S.W. Lau, who is an Associate of the Hong Kong Institute of Surveyors, an Associate of the Australian Property Institute and a Registered Professional Surveyor in General Practice, and Mr. Tse Wai Leung who is a Professional Associate of the Royal Institution of Chartered Surveyors, an Associate of the Hong Kong Institute of Surveyor and a Registered Professional Surveyor in General Practice, have substantial experience in valuation of properties in Hong Kong and the PRC. In addition, Francis Lau & Co., (Surveyors) Ltd. has engaged a valuation firm in for the valuation of the properties in. 217
SUMMARY OF VALUATION Value of Effective property interest Value interest attributable to as at attributable to the Company as at No. Property 30th April, 2000 the Company 30th April, 2000 (%) Group I Properties rented by the Group in Hong Kong 1. Rooms 4205A, 4207 and 4208 on 42nd Floor, Tower One, Lippo Centre, 89 Queensway, Hong Kong 2. Rooms 2901, 2902, 2905 and 2906, 29th Floor, 69 Jervois Street, Sheung Wan, Hong Kong 3. House No. H5, Belleview Place, No. 93 Repulse Bay Road, Hong Kong 218
Value of Effective property interest Value interest attributable to as at attributable to the Company as at No. Property 30th April, 2000 the Company 30th April, 2000 (%) Group II Properties rented by the Group in Singapore 4. Units 04-11 and 04-12, Block 1004, Toa Payoh North, Toa Payoh Industrial Estate Singapore 318995 5. Units 02-03 to 02-06, Block 1008, Toa Payoh North, Toa Payoh Industrial Estate Singapore 318996 6. Units 02-01 and 02-02, Block 1008, Toa Payoh North, Toa Payoh Industrial Estate Singapore 318996 7. Unit 07-01, Block 1008, Toa Payoh North, Toa Payoh Industrial Estate Singapore 318996 Sub-total: 219
Value of Effective property interest Value interest attributable to as at attributable to the Company as at No. Property 30th April, 2000 the Company 30th April, 2000 (%) Group III Property held by the Group for future development in 8. Land at HK$1,645,897 50.13 HK$825,088 No. 11 Jalan Gatot Subroto, Bekit Sentul, Citeureup Sub-district, Bogor District, West Java, Group IV Property held and occupied by the Group in 9. Unit 16A to 16H on 16th Floor HK$3,928,599 50.13 HK$1,969,407 Penthouse Unit C1 and C2 on 20th Floor Fairway Tower Golf Karawaci Condominium, Lippo Karawaci, Curug Sub-district, Tangerang District, West Java, Sub-total: HK$5,574,496 HK$2,794,495 220
Value of Effective property interest Value interest attributable to as at attributable to the Company as at No. Property 30th April, 2000 the Company 30th April, 2000 (%) Group V Properties rented by the Group in 10. 16th and 17th Floors, Menara Matahari, Jalan Bulevar Palem Raya No. 7, Lippo Karawaci, Curug Sub-district, Tangerang District, West Java, 11. Shop Houses Block A Nos. 5 and 35, Pinangsia Shop Houses, Lippo Karawaci, Jatiuwung District, Tangerang District, West Java, 12. Shop Houses Block E, Nos. 5 and 6, Taman Kebon Jeruk, Intercon Plaza Block, Kebon Jeruk District, West Jakarta, 13. 11th Floor, Wisma Indovision, Jalan Raya Panjang Z/III, Kebon Jeruk District, West Jakarta, 14. Warehouse located at Jalan Prof. Joko Sutono, SH No. 1, Kebayoran Baru, South Jakarta, 221
Value of Effective property interest Value interest attributable to as at attributable to the Company as at No. Property 30th April, 2000 the Company 30th April, 2000 (%) 15. Block E, No. 22 Graha Cempaka Mas, Jalan Letjen Suprapto, Sumur Batu Sub-district, Kemayoran District, Central Jakarta, 16. Block E, No. 23 Graha Cempaka Mas, Jalan Letjen Suprapto, Sumur Batu Sub-district, Kemayoran District, Central Jakarta, 17. Basement Tower C1, Graha Cempaka Mas Building, Jalan Letjen Suprapto, Sumur Batu Sub-district, Kemayoran District, Central Jakarta, 18. A parabolic antenna point on 5th Floor, Block C, Graha Cempaka Mas, Jalan Letjen Suprapto, Sumur Batu Sub-district, Kemayoran District, Central Jakarta, 19. Block A2/209, Setiawan Building, No. 21 Jalan Margorejo, Margorejo Sub-district, Wonocolo District Surabaya, East Java 222
Value of Effective property interest Value interest attributable to as at attributable to the Company as at No. Property 30th April, 2000 the Company 30th April, 2000 (%) 20. Ground Floor and 2nd Floor, Citra Graha Building, Nos. 35-36 Jenderal Gatot Subroto Kav, Setiabudi District South Jakarta, Sub-total: Group VI Property rented by the Group in Malaysia 21. P5-2, Podium Block, Plaza Dwitasik, No. 21 Jalan, 5/106/Bander Sri Permaisuri, 5600 Kuala Lumpur, Malaysia Grand total: HK$5,574,496 HK$2,794,495 223
VALUATION CERTIFICATE Group I Properties rented by the Group in Hong Kong 1. Rooms 4205A, 4207 and 4208 on 42nd Floor, Tower One, Lippo Centre, 89 Queensway, Hong Kong The property comprises three office units on the 42nd Floor of an office building which was completed in 1989. The property has a total gross area of approximately 289.48 square metres (3,116.00 square feet). Currently, Rooms 4207 and 4208 are occupied for office use and internal decoration work of Room 4205A is in progress. Room 4205A of the property is leased by the Group from Bondlink Investment Limited for a term commencing on 1st July, 2000 and expiring on 7th May, 2001 at a monthly rent of HK$40,186, exclusive of rates and management fee. Rooms 4207 and 4208 of the property are leased by the Group from Bondlink Investment Limited for a term of one year commencing on 8th May, 2000 and expiring on 7th May, 2001 at a monthly rent of HK$46,480, exclusive of rates and management fee. Notes: 1. As revealed by a Tenancy Agreement dated 16th June, 2000, the tenant of Room 4205A of the property is AcrossAsia Multimedia Limited. 2. As revealed by another Tenancy Agreement dated 11th April, 2000, the tenant of Rooms 4207 and 4208 of the property is AcrossAsia Multimedia Limited (formerly known as AsiaNet MultiMedia Limited). 224
2. Rooms 2901-2902 and 2905-2906, 29th Floor, 69 Jervois Street, Sheung Wan, Hong Kong The property comprises four office units on the 29th Floor of a 32-storey commercial building completed in 1999. The total gross floor area of the property is 235.04 square metres (2,530 square feet). The property is intended to be used by the Group as offices. The property is leased by the Group for a term of 2 years commencing on 14th June, 2000 and expiring on 13th June, 2002 at an aggregate monthly rent of HK$29,350 exclusive of management fees, government rates, government rent and other outgoings. Notes: 1. As revealed by a Tenancy Agreement dated 26th June, 2000, the tenant of Rooms 2901-2902 of the property is Asia MobileNet (HK) Limited, of which the Company has an effective interest of 82.5%. 2. As revealed by a Tenancy Agreement dated 26th June, 2000, the tenant of Rooms 2905-2906 of the property is Kindman Investment Limited which is an indirect wholly-owned subsidiary of the Company. 225
3. House No. H5 Belleview Place, No. 93 Repulse Bay Road, Hong Kong The property comprises a 3-storey terrace house (including a garage therein) completed in 1988. The gross floor area of the property is 297.84 square metres (3,266 square feet). The property is used by the Group as a director s quarter. The property is leased by the Group for a term of two years commencing on 1st June, 2000 and expiring on 31st May, 2002 at a monthly rent of HK$82,500 exclusive of management fee and government rates. As revealed by a Tenancy Agreement dated 26th June, 2000, the tenant of the property is AcrossAsia Multimedia Limited. 226
Group II Properties rented by the Group in Singapore 4. Units 04-11 and 04-12, Block 1004, Toa Payoh North, Toa Payoh Industrial Estate, Singapore 318995 The property comprises two workshops on the 4th Floor of a light industrial building. The property has a total lettable area of approximately 181.40 square metres. The property is currently leased from Jurong Town Corporation to the Group for a term of three years from 1st November, 1997 to 31st October, 2000, at a monthly rent of S$3,105.57, inclusive of service charges but before deduction of property and rental rebates from the landlord. occupied by the Group as a production centre and ancillary office. As revealed by an Offer of Tenancy dated 16th August, 1997 and an Acceptance Letter dated 20th August, 1997, the tenant of the property is MediaManager Pte Ltd. of which the Company has an effective interest of 59.42%. 227
5. Units 02-03 to 02-06, Block 1008, Toa Payoh North, Toa Payoh Industrial Estate, Singapore 318996 The property comprises four workshops on the 2nd Floor of a light industrial building. The property has a total lettable area of approximately 283.10 square metres. The property is currently leased from Jurong Town Corporation to the Group for a term of three years from 1st March, 2000 to 28th February, 2003, at a monthly rent of S$4,472.98, inclusive of service charges but before deduction of property and rental rebates from the landlord. occupied by the Group as a production centre and ancillary office. As revealed by an Offer of Tenancy dated 21st December, 1999 and an Acceptance Letter dated 28th January, 2000, the tenant of the property is MediaManager Pte Ltd. of which the Company has an effective interest of 59.42%. 228
6. Units 02-01 and 02-02, Block 1008, Toa Payoh North, Toa Payoh Industrial Estate, Singapore 318996 The property comprises two workshops on the 2nd Floor of a light industrial building. The property has a total lettable area of approximately 399.30 square metres. The property is currently leased from Jurong Town Corporation to the Group for a term of three years from 1st June, 2000 to 31st May, 2003, at a monthly rent of S$6,308.94, inclusive of service charges but before deduction of property and rental rebates from the landlord. occupied by the Group as a production centre and ancillary office. As revealed by an Offer of Tenancy dated 31st March, 2000 and an Acceptance Letter dated 12th April, 2000, the tenant of the property is MediaManager Pte Ltd. of which the Company has an effective interest of 59.42%. 229
7. Unit 07-01, Block 1008, Toa Payoh North, Toa Payoh Industrial Estate, Singapore 318996 The property comprises a workshop on the 7th Floor of a light industrial building. The property has a lettable area of approximately 322.00 square metres. The property is currently leased from Jurong Town Corporation to the Group for a term of three years from 16th April, 2000 to 15th April, 2003, at a monthly rent of S$5,731.60, inclusive of service charges but before deduction of property and rental rebates from the landlord. occupied by the Group as a production centre and ancillary office. As revealed by an Offer of Tenancy dated 11th April, 2000 and an Acceptance Letter dated 18th April, 2000, the tenant of the property is Communication Resources Pte Ltd. of which the Company has an effective interest of 51.33%. 230
Group III Property held by the Group for future development in 8. Land at No. 11 Jalan Gatot Subroto, Bekit Sentul, Citeureup Subdistrict, Bogor District, West Java, The property comprises a parcel of land in regular shape with a frontage of 56.00 metres onto Jalan Gatot Subroto and a return frontage of 60.00 metres onto Jalan Jenderal Sudirman. The property has a land area of 3,399 square metres. The property is vacant. As advised by the Group, the property is intended to be developed and used by the Group as a training and technology development software centre. HK$1,645,897 (Rp1,680,000,000) (50.13% interest attributable to the Company: HK$825,088) Topographically, it is generally flat with an elevation of about 20 centimetres above the street level. Basic utility services such as electricity supply, water supply, telephone, etc. are available in the locality. Subject to the certification by the government which is currently in progress, the property is held for a term of 20 to 30 years and shall be extended for another 20 to 30 years upon payment of land premium at 1 to 3% of the then market land. Notes: 1. Pursuant to Surat Perjanjian Pengikatan Jual Belt Tanah (Letter of Sole Binding Agreement) dated 14th October 1996 between PT Royal Sentul Highlands as seller and PT Multipolar Corporation Tbk of which the Company has an effective interest of a 50.13%, as purchaser, the property was acquired by the purchaser. 2. The property falls within an area designated for commercial. It is bordered by vacant land Kav. No.10 to the east, Jalan Gatot Subroto to the south, Jalan Jenderal Sudirman to the west and a vacant land to the north. 3. The land development conditions and constraints are summarized as below: Use: commercial No. of storey: not more than 10 Site coverage: 30% (may increase to 50% subject to government approval) 231
Group IV Property held and occupied by the Group in 9. Unit 16A to 16H on 16th Floor and Penthouse Unit C1 and C2 on 20th Floor, Fairway Tower, Golf Karawaci Condominium, Lippo Karawaci, Curug Subdistrict, Tangerang District, West Java, The property comprises a total of 8 apartments on 16th Floor and 2 adjoining apartments on 20th Floor, of a high-rise residential building completed in 1997. Basic utility services such as electricity supply, water supply, telephone, etc. are available. The total gross floor area of the property is 924.00 square metres which comprises the following: Gross No. Floor Unit of Bedroom Area (sq. m.) occupied by the Group as staff quarters. HK$3,928,599 (Rp4,010,000,000) (50.13% interest attributable to the Company: HK$1,969,407) 16A 3 77.00 16B 3 96.00 16C 3 96.00 16D 3 96.00 16E 3 96.00 16F 3 96.00 16G 3 96.00 16H 3 77.00 21 C1 & C2 4 194.00 Total: 924.00 The property is held under Hak Milik (freehold interest). In accordance with 10 sets of Hak Milik Atas Satuan Rumah Susun (Strata Title Certificate of Ownership) Nos. 00097 to 104/XIII/Fairway all issued by The Agrarian Office of Tangerang on 18th October, 1997, the registered owner of the property is PT Multipolar Corporation Tbk of which the Company has an effective interest of 50.13%. 232
Group V Properties rented by the Group in 10. 16th and 17th Floors, Menara Matahari, Jalan Bulevar Palem Raya No. 7, Lippo Karawaci, Curug Subdistrict, Tangerang District, West Java, The property comprises office premises on the 16th and 17th Floors of a 42- storey office/residential building whilst car parking spaces are provided on a basement level underneath. The total gross floor area of the property is approximately 2,237.88 square metres. The property is currently leased from PT. Kresendo Nityaprima to the Group for a term of six years commencing on 1st August, 1997 and expiring on 31st July, 2003 at a monthly rent of Rp115,250,820 inclusive of service charges but exclusive of VAT. occupied by the Group as offices. As revealed by a Tenancy Agreement dated 6th June, 1997, the tenant of the property is PT Multipolar Corporation Tbk of which the Company has an effective interest of 50.13%. 233
11. Shop Houses Block A Nos. 5 and 35, Pinangsia Shop Houses, Lippo Karawaci, Jatiuwung, Tangerang District, West Java, The property comprises a four and a half storey (Shop House No.5) and a three and a half storey (Shop House No.35) commercial buildings completed in 1997. The total gross floor area of the property is approximately 700.00 square metres. occupied by the Group for warehouse purpose. Shop House No. 5 is currently leased from Mr. Rahardjo Susanto Ruko Pinansia to the Group for a term of one year commencing on 8th April, 2000 and expiring on 8th April, 2001 at a total rent of Rp21,000,000 exclusive of service charges whilst Shop House No.35 is currently leased from Mr. Lie Lily to the Group for a term of two years commencing on 10th March, 1999 and expiring on 10th March, 2001 at a total rent of Rp26,000,000 exclusive of service charges. Notes: 1. As revealed by a Tenancy Agreement dated 23rd March, 2000, the tenant of Shop House No. 5 of the property is PT Multipolar Corporation Tbk of which the Company has an effective interest of 50.13%. 2. As revealed by another Tenancy Agreement dated 10th March, 2000, the tenant of Shop House No. 35 of the property is PT Multipolar Corporation Tbk. 234
12. Shop Houses Block E Nos. 5 and 6, Taman Kebon Jeruk Intercon Plaza Block, Kebon Jeruk District, West Jakarta The property comprises two three and a half storey commercial buildings completed in 1980 s. The total gross floor area of the property is approximately 189.00 square metres. The property is currently leased from Mr. Tjong Innawati Henny to the Group for a term of five years commencing on 2nd January, 1997 and expiring on 2nd January, 2002 at a total rent of Rp250,000,000 exclusive of service charges. occupied by the Group as offices As revealed by a Tenancy Agreement dated 4th December, 1996, the tenant of the property is PT Multipolar Corporation Tbk of which the Company has an effective interest of 50.13%. 235
13. 11th Floor, Wisma Indovision, Jalan Raya Panjang Z/III, Kebon Jeruk District, West Jakarta The property comprises office premises on 11th Floor of a 14-storey commercial building completed in 1992. The total gross floor area of the property is of approximately 818.73 square metres. occupied by the Group as offices. The property is currently leased from PT Datakom Asia to the Group for a term 27 months commencing on 1st March, 1999 and expiring on 31st May, 2001 at a monthly rent of Rp49,123,800 inclusive of service charges. As revealed by a Tenancy Agreement dated 23rd March, 1999, the tenant of the property is PT Broadband Multimedia Tbk of which the Company has an effective interest of 65.99%. 236
14. Warehouse located at Jalan Prof. Joko Sutono, SH No.1, Kebayoran Baru, South Jakarta The property comprises storage space within a warehouse. The gross floor area of the property is 400 square metres. The property is currently leased by the Group for a term of 6 months commencing on 16th December, 1999 and expiring on 15th June, 2000 at a monthly rent of Rp650,000 inclusive of service charges. occupied by the Group for storage purposes. As revealed by a Tenancy Agreement, the tenant of the property is PT Broadband Multimedia Tbk of which the Company has an effective interest of 65.99%. 237
15. Block E, No. 22 Graha Cempaka Mas, Jalan Letjen Suprapto Sumur Batu Sub-district, Kemayoran District, Central Jakarta, The property comprises a 4-storey shop house. The property has a gross area of 297.35 square metres. The property is leased from Tatang Surya to the Group for a term of 3 years commencing on 1st October, 1998 and expiring on 1st October, 2001 at a total rent of Rp105,000,000, inclusive of service charges. The property is occupied by the Group as offices As revealed by a Leasing Agreement dated 1st September 1998, the tenant of the property is PT Natrindo Global Telekomunikasi of which the Company has an effective interest of 85.60%. 238
16. Block E, No. 23 Graha Cempaka Mas, Jalan Letjen Suprapto Sumur Batu Sub-district, Kemayoran District, Central Jakarta, The property comprises a 4-storey shop house. The property has a gross area of 298.55 square metres. The property is leased from Tatang Surya to the Group for a term of 3 years commencing on 1st October, 1998 and expiring on 1st October, 2001 at a total rent of Rp105,000,000, inclusive of service charges. occupied by the Group as offices. As revealed by a Leasing Agreement dated 1st September 1998, the tenant of the property is PT Natrindo Global Telekomunikasi of which the Company has an effective interest of 85.60%. 239
17. Basement, Tower C1, Graha Cempaka Mas Building, Jalan Letjen Suprapto, Sumur Batu Sub-district, Kemayoran District, Central Jakarta, The property comprises commercial spaces within a commercial/residential building. The property has a gross area of 40.00 square metres. The property is leased from Pt. Duta Pertiwi Tbk to the Group for a term from 23rd October, 1998 to 22nd November, 2002 at a monthly rent of US$700, inclusive of service charges. occupied by the Group as offices. As revealed by a Leasing Agreement dated 2nd October 1997, the tenant of the property is PT Natrindo Global Telekomunikasi of which the Company has an effective interest of 85.60%. 240
18. A parabolic antenna point on 5th Floor, Block C1, Graha Cempaka Mas, Jalan Letjen Suprapto, Sumur Batu Sub-district, Kemayoran District, Central Jakarta, The property comprises a spot of floor space on the 5th Floor within a shop house. The property is leased from PT Duta Pertiwi Tbk to the Group for a term from 16th September, 1999 to 15th September, 2000 at a monthly rent of Rp346,667, inclusive of service charges. occupied by the Group for housing parabolic antenna. As revealed by a Leasing Agreement dated 13th September, 1999, the tenant of the property is PT Natrindo Kartu Panggil of which the Company has an effective interest of 86.08%. 241
19. Block A2/209, Setiawan Building, No. 21 Jalan Margorejo Margorejo Sub-district, Wonocolo District, Surabaya, East Java, The property comprises a parcel of land of 630 square metres on which a 2-storey house is erected. The house has a gross floor area of 800 square metres. The property is leased from NY, Imelda Setiawan to the Group for a term from 1st November, 1999 to 31st November, 2001 at a monthly rent of Rp5,000,000, inclusive of service charges. occupied by the Group as staff quarter As revealed by a Leasing Agreement dated 29th September 1999, the tenant of the property is PT Natrindo Global Telekomunikasi of which the Company has an effective interest of 85.60%. 242
20. Ground Floor and 2nd Floor, Citra Graha Building, No. 35-36 Jalan Jenderal Gatot Subroto Kav, Setiabudi District, South Jakarta, The property comprises office spaces within a commercial building. It has a total gross area of 1,258.00 square metres. The property is leased from PT Tropika Selaras to the Group for a term from 1st September, 1997 to 31st August, 2000 at a monthly rent of US$33,225, inclusive of service charges. occupied by the Group as offices. As revealed by a Leasing Agreement dated 18th July 1997, the tenant of the property is PT Sharestar of which the Company has an effective interest of 50.11%. 243
Group VI Properties rented by the Group in Malaysia 21. P5-2, Podium Block, Plaza Dwitasik, No. 21 Jalan, 5/106/Bander Sri Permaisuri, 5600 Kuala Lumpur, Malaysia The property comprises one unit on the 5th Floor of an office and shop complex. The property has a total lettable area of approximately 232.26 square metres (2,500.00 square feet). occupied by the Group as offices. The property is leased from Digital Web Sdn. Bhd. to the Group for a term of three years from 1st March, 1999 to 28th February, 2002 at a monthly rent of RM2,200, inclusive of tax and service charges. As revealed by a Tenancy Agreement dated 1st March 1999, the tenant of the property is Digital Access Sdn. Bhd. of which the Company has an effective interest of 40.63%. 244