ASTON TB.

SIMATUPANG
Jalan TB. Simatupang no. Jakarta Selatan

Appendix : SP-4
Owners : PT. NUSA PRATAMA PROPERTY
Analysis : Average Rooms Rate

2014 DATA (YTD OCT 2014 + FORECAST NOV-DEC 2014)

Room
Hotel YTD Room Av Room Sold Occupancy ARR RevPar Revenue
Available
Aston Simatupang
Mercure Jakarta 232 84,680 66,336 78.34% 929,032.00 727,778.30 61,628,266,752
Simatupang
Hotel Kristal 320 116,800 84,534 72.38% 998,239.00 722,475.48 84,385,135,626
Grand Kemang 203 74,095 59,741 80.63% 895,927.00 722,364.19 53,523,574,907
Santika Hotel 120 43,800 30,091 68.70% 825,000.00 566,775.00 24,824,745,000
Swissbell 94 34,310 26,247 76.50% 987,500.00 755,437.50 25,919,060,625
Ambhara 224 81,760 56,271 68.82% 873,849.00 601,423.15 49,172,357,079
TOTAL MARKET 1193 435,445 323,220 74.23% 926,469.19 687,694.52 299,453,139,989

Room Counts
Aston Simatupang 296
Mercure Jakarta Simatupan 232 14%
Hotel Kristal 320 12%
Grand Kemang 203 13%
Santika Hotel 120
Swissbell 94
Ambhara 224 13%

YEAR : PROJECTED 2015

POST SOFT OPENING PERIOD (JUN 2015 - M
ROOM ROOM
HOTEL NAME AVAILABLE NIGHT OCCP. ARR REV PAR ROOM REVENUE
SOLD
DIRECT COMPETITOR
ASTON Priority Simatupang 108,040 76,229 70.56 1,050,000.00 740,841 80,040,450,000
Mercure Jakarta Simatupang 84,680 63,027 74.43 1,055,483.00 785,592 66,523,927,041
Hotel Kristal 116,800 81,578 69.84 1,121,150.00 783,058 91,461,174,700
Grand Kemang 74,095 58,281 78.66 1,008,723.00 793,433 58,789,385,163
Santika Hotel 43,800 30,091 68.70 825,000.00 566,775 24,824,745,000
Swissbell 34,310 26,247 76.50 987,500.00 755,438 25,919,060,625
Ambhara Hotel 81,760 53,926 65.96 985,842.57 650,227 53,162,546,430
City Result 543,485 389,379 71.64 1,029,129.84 737,318 400,721,288,959
 Natural Actual Share Fair Share MPI ARI RGI RGI Rank
Share

0.19 0.21 0.01 1.06 1.00 1.058 3

0.27 0.26 (0.01) 0.98 1.08 1.051 2

0.17 0.18 0.01 1.09 0.97 1.050 1
0.10 0.09 (0.01) 0.93 0.89 0.824
0.08 0.08 0.00 1.03 1.07 1.099
0.19 0.17 (0.01) 0.93 0.94 0.875 4
1.00 1.00 - 6.00 5.95 5.96

ENING PERIOD (JUN 2015 - MAY 2016)

NATURAL ACTUAL FAIR M.P.I A.R.I R.G.I
SHARE SHARE SHARE
R
19.88 19.58 (0.30) 0.98 1.02 1.00
15.58 16.19 0.61 1.04 1.03 1.07
21.49 20.95 (0.54) 0.97 1.09 1.06
13.63 14.97 1.33 1.10 0.98 1.08
8.06 7.73 (0.33) 0.96 0.80 0.77
6.31 6.74 0.43 1.07 0.96 1.02
15.04 13.85 (1.19) 0.92 0.96 0.88
100 100 0
 BANGUNAN

BANGUNAN RUMAH TINGGAL PERKEBUNAN

(SEMI
PERMANEN)
BANGUN MEWAH MENENGAH SEDERHANA
AN

2 LANTAI 2 LANTAI 1 LANTAI 1 LANTAI

Rp. / m² Rp. / m² Rp. / m² Rp. / m²

A. BIAYA
LANGSUN
G
Pondasi 697.002 591.308 295.72 109.551
Struktur 1,422,431 1,157,545 568.868 374.875
Rangka
200.662 128.994 191.705 80.639
Atap
Penutup
256.885 149.058 144.469 109.614
Atap
Plafon 420.637 186.372 97.401 58.174
Dinding 1,178,044 624.054 399.661 315.035
Pintu dan
400.233 259.669 199.841 78.631
Jendela
Lantai 697.282 319.857 173.232 25.743
Utilitas 329.099 188.866 178.378 79.311
TOTAL
BIAYA
5,602,275 3,605,722 2,249,275 1,231,573
LANGS
UNG ( A )
B. BIAYA
TIDA
K
LANGSUN
G
Profession
168.068 108.172 67.478 36.947
al Fee
Biaya
84.034 54.086 33.739 18.474
Perijinan
Keuntunga
n 560.228 360.572 224.928 123.157
Kontraktor
TOTAL
BIAYA
TIDAK 812.33 522.83 326.145 178.578
LANGSUN
G(B)
TOTAL
BIAYA
PEMBA
NGUNAN 6,414,605 4,128,552 2,575,420 1,410,151
BARU
(A+B)
PPN 10% 641.46 412.855 257.542 141.015
TOTAL
BIAYA
PEMB.
BARU 7,056,065 4,541,407 2,832,962 1,551,166

SETEL
AH PPN
PEMBU
7,060,000 4,540,000 2,830,000 1,550,000
LATAN
BANGUNAN
GUDANG BANGUNAN GEDUNG BERTINGKAT

RENDAH SEDANG TINGGI

(LOW-RISE) (MID-RISE) (HIGH RISE)
3 LANTAI 8 LANTAI 16 LANTAI
1 LANTAI (< 5 LANTAI) + 1 BASEMENT + 2 BASEMENT
(5 - 8 LANTAI) (> 8 LANTAI)
Rp. / m² Rp. / m² Rp. / m² Rp. / m²

319.444 445.242 787.775 895.786

999.276 1,119,313 1,342,540 1,915,244

335.1 105.145 61.392 32.83

92.448 170.012 76.607 44.077

0 138.468 143.635 133.189

297.427 371.958 617.656 838.165

71.605 115.834 631.003 749.026

235.062 238.32 56.987 47.064

4.616 145.905 520.095 628.532

2,354,979 2,850,197 4,237,690 5,283,913

70.649 85.506 127.131 158.517

35.325 42.753 63.565 79.259

235.498 285.02 423.769 528.391

 341.472 413.279 614.465 766.167

2,696,451 3,263,476 4,852,155 6,050,080

269.645 326.348 485.215 605.008

2,966,096 3,589,824 5,337,370 6,655,088

2,970,000 3,590,000 5,340,000 6,660,000

 MODEL
MODEL MALL MODEL HOTEL

APARTEMEN
(GRADE B) (BINTANG 3) (GRADE B)
14 LANTAI+
4 LANTAI
8 LANTAI 2 SEMI
+ 1 BASEMENT BASEMENT
Rp. / m² Rp. / m² Rp. / m²

781.824 685.905 605.125

1,287,203 1,321,005 1,618,787

0 0 9.175

144.359 122.634 19.112

134.107 118 94.245

541.392 1,051,749 1,166,248

81.405 320.14 473.536

388.585 516.069 312.898

1,941,189 2,346,457 1,316,770

5,300,066 6,481,959 5,615,896

159.002 194.459 168.477

79.501 97.229 84.238

530.007 648.196 561.59

 768.51 939.884 814.305

6,068,575 7,421,844 6,430,201

606.858 742.184 643.02

6,675,433 8,164,028 7,073,221

6,680,000 8,160,000 7,070,000

 Harga per Meter Bangunan 31-Dec-19
- Shoping Mall 3.5
Pondasi 781,824
4 Lantai Basement
6,680,000 Building 5,898,176

- Island Shop 1 3.5

Interest During Construction
Pondasi 781,824
4 Lantai Basement
6,680,000 Building 5,898,176

- Island Shop 2 2.5

Pondasi 781,824
4 Lantai Basement
6,680,000 Building 5,898,176

Description
- Office 25
Pondasi 895,786
16 lantai Basement
6,660,000 Building 5,764,214

- Condotel 20
Pondasi 895,786
16 lantai Basement
6,660,000 Building 5,764,214

- Hotel 15
Pondasi 895,786
16 lantai Basement
6,660,000 Building 5,764,214

Proggres Pembangunan 31-Dec-19

- Shoping Mall
Pondasi 43,449
Base Ment -
Bangunan 43,449

- Condotel
Pondasi 23,000
Base Ment
Bangunan 23,000

- Hotel
Pondasi 17,250
Base Ment
Bangunan 17,250
 Total Biaya Pembangunan
- Shoping Mall 31-Dec-19
Building Cost
Pondasi -
Basement -
317,752,594,239 Building
Sarana Pelengkap
0.1% - Perkerasan Halaman
0.1% - Pagar
- Taman
37.0% ME / Cost
Pre Operating :
2.8% Legal and Permit 8,897,072,639
2.6% Consultant Fee 8,261,567,450
5.5% Others Cost 17,476,392,683
1.4% Interest During Construction 4,448,536,319

- Condotel 31-Dec-19
Building Cost
Pondasi
Basement
184,271,590,853 Building
Sarana Pelengkap
0.10% - Perkerasan Halaman
0.05% - Pagar
- Taman
0.03% - Hotel Facilities
36.97% ME / Cost
26.65% Hotel Fixture & Furniture
23.73% Hotel Operating Equipment
Pre Operating :
2.80% Legal and Permit
2.60% Consultant Fee
5.50% Others Cost
1.40% Interest During Construction
99.83%

- Hotel 31-Dec-19
Pondasi
Basement
153,228,904,975 Building
Sarana Pelengkap
0.10% - Perkerasan Halaman
0.05% - Pagar
- Taman
0.03% - Hotel Facilities
36.97% ME / Cost
26.65% Hotel Fixture & Furniture
23.73% Hotel Operating Equipment
Pre Operating :
2.80% Legal and Permit
2.60% Consultant Fee
5.50% Others Cost
1.40% Interest During Construction
 -
-

Rekapitulasi Cost Projection 31-Dec-19

Mall 474,793,543,334.86 ###
Shoping Island 1 87,233,013,024.89 7,180,757,909
Shoping Island 1 17,609,148,591.98 1,449,531,876
Office 366,625,227,938.35 -
Condotel 368,224,806,739.27 -
Hotel 306,193,068,937.69 -
1,620,678,808,567.03 ###
Tanpa Shoping Island 1 & 2 + Office 1,149,211,419,011.81
 3.5% Growth
31-Dec-20 31-Dec-21 31-Dec-22 31-Dec-23 31-Dec-24 31-Dec-25
1 2 3 4 5 6
809,188 837,509 866,822.24 897,161 928,562 961,061
- - - - - -
6,104,612 6,318,274 6,539,413.16 6,768,293 7,005,183 7,250,364

809,188 837,509 866,822.24 897,161 928,562 961,061

- - - - - -
6,104,612 6,318,274 6,539,413.16 6,768,293 7,005,183 7,250,364

809,188 837,509 866,822.24 897,161 928,562 961,061

- - - - - -
6,104,612 6,318,274 6,539,413.16 6,768,293 7,005,183 7,250,364

927,139 959,588 993,173.95 1,027,935 1,063,913 1,101,150

- - - - - -
5,965,961 6,174,770 6,390,887.10 6,614,568 6,846,078 7,085,691

927,139 959,588 993,173.95 1,027,935 1,063,913 1,101,150

- - - - - -
5,965,961 6,174,770 6,390,887.10 6,614,568 6,846,078 7,085,691

927,139 959,588 993,173.95 1,027,935 1,063,913 1,101,150

- - - - - -
5,965,961 6,174,770 6,390,887.10 6,614,568 6,846,078 7,085,691

31-Dec-20 31-Dec-21 31-Dec-22 31-Dec-23 31-Dec-24 31-Dec-25

21,725 21,725
- -
- 21,725 21,724.50

11,500 11,500
-
11,500 11,500
 31-Dec-20 31-Dec-21 31-Dec-22 31-Dec-23 31-Dec-24 31-Dec-25

17,579,201,230 20,846,577,280 - - - -
- - - - - -
- 137,261,334,510 ### - -

325,164,858
158,937,083
-
117,473,278,063

31-Dec-20 31-Dec-21 31-Dec-22 31-Dec-23 31-Dec-24 31-Dec-25

- - - ### ### -
- - - - - -
- - - - ### ###

188,570,123
92,171,047
-
60,883,627
68,125,290,631
49,101,905,373
43,718,989,410

5,159,604,544
4,791,061,362
10,134,937,497
2,579,802,272

31-Dec-20 31-Dec-21 31-Dec-22 31-Dec-23 31-Dec-24 31-Dec-25

- - - - - -
- - - - - -
- - - - - -

-
4,290,409,339
3,983,951,529
8,427,589,774
2,145,204,670
 31-Dec-20 31-Dec-21 31-Dec-22 31-Dec-23 31-Dec-24 31-Dec-25
### ### ### - - -
3,256,981,056 28,802,026,575 47,993,247,485 - - -
657,465,120 5,814,073,688 9,688,077,908 - - -
- - 30,179,480,382 15,740,255,279 121,121,734,058 199,583,758,219
- - 22,665,405,675 11,821,252,944 90,964,894,149 242,773,253,970
- - - - - 18,847,155,312
### ### ### ### ### ###
31-Dec-26 31-Dec-27 31-Dec-28 31-Dec-29 31-Dec-30 ### ###
7 8 9 10 11 12 13
994,698 1,029,513 1,065,546 1,102,840 1,141,439 ### ###
- - - - - - -
7,504,127 7,766,771 8,038,608 8,319,960 8,611,158 ### ###

994,698 1,029,513 1,065,546 1,102,840 1,141,439 ### ###

- - - - - - -
7,504,127 7,766,771 8,038,608 8,319,960 8,611,158 ### ###

994,698 1,029,513 1,065,546 1,102,840 1,141,439 ### ###

- - - - - - -
7,504,127 7,766,771 8,038,608 8,319,960 8,611,158 ### ###

1,139,690 1,179,579 1,220,864 1,263,595 1,307,820 ### ###

- - - - - - -
7,333,690 7,590,369 7,856,032 8,130,993 8,415,578 ### ###

1,139,690 1,179,579 1,220,864 1,263,595 1,307,820 ### ###

- - - - - - -
7,333,690 7,590,369 7,856,032 8,130,993 8,415,578 ### ###

1,139,690 1,179,579 1,220,864 1,263,595 1,307,820 ### ###

- - - - - - -
7,333,690 7,590,369 7,856,032 8,130,993 8,415,578 ### ###

31-Dec-26 31-Dec-27 31-Dec-28 31-Dec-29 31-Dec-30 ### ###

8,625 8,625

8,625 8,625
31-Dec-26 31-Dec-27 31-Dec-28 31-Dec-29 31-Dec-30 ### ###

- - - - - - -
- - - - - - -

- - - - - - -
31-Dec-26 31-Dec-27 31-Dec-28 31-Dec-29 31-Dec-30 ### ###

- - - - - - -
- - - - - - -
- - - - - - -

31-Dec-26 31-Dec-27 31-Dec-28 31-Dec-29 31-Dec-30 ### ###

### ### - - -
- - - - -
- ### ### - -

156,803,299
76,643,765
-
50,627,074
56,648,795,597
40,830,120,138
36,354,018,777
 31-Dec-26 31-Dec-27 31-Dec-28 31-Dec-29 31-Dec-30 ### ###
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
9,829,825,833 75,640,803,106 201,875,284,687 - - - -
### ### ### - - - -
### ### 31-Dec-35 31-Dec-36 31-Dec-37 31-Dec-38 31-Dec-39 Err:509 Err:509 Err:509
14 15 16 17 18 19 20 21 22 23
### ### ### ### ### ### ### ### ### ###
- - - - - - - - - -
### ### ### ### ### ### ### ### ### ###

### ### ### ### ### ### ### ### ### ###
- - - - - - - - - -
### ### ### ### ### ### ### ### ### ###

### ### ### ### ### ### ### ### ### ###
- - - - - - - - - -
### ### ### ### ### ### ### ### ### ###

### ### ### ### ### ### ### ### ### ###
- - - - - - - - - -
### ### ### ### ### ### ### ### ### ###

### ### ### ### ### ### ### ### ### ###
- - - - - - - - - -
### ### ### ### ### ### ### ### ### ###

### ### ### ### ### ### ### ### ### ###
- - - - - - - - - -
### ### ### ### ### ### ### ### ### ###

### ### 31-Dec-35 31-Dec-36 31-Dec-37 31-Dec-38 31-Dec-39 Err:509 Err:509 Err:509
### ### 31-Dec-35 31-Dec-36 31-Dec-37 31-Dec-38 31-Dec-39

- - -
- - -

-
### ### 31-Dec-35 31-Dec-36 31-Dec-37 31-Dec-38 31-Dec-39

-
-
-

### ### 31-Dec-35 31-Dec-36 31-Dec-37 31-Dec-38 31-Dec-39

-
-
-
### ### 31-Dec-35
- - - -
- - -
- - -
- - -
- - -
- - -
- - -
Err:509
24
###
-
###

###
-
###

###
-
###

###
-
###

###
-
###

###
-
###

Err:509
ASTON TB. SIMATUPANG
Jalan TB. Simatupang no. Jakarta Selatan

Appe : SP-2
Owne: PT. NUSA PRATAMA PROPERTY
Analy : Depreciation & Amortization
###
ITEM INITIAL LIFE % 31-Dec-19 31-Dec-20 31-Dec-21 31-Dec-22 31-Dec-23 31-Dec-24
COST TIME 1 2 3 4 5

DEPRECIATION :
Mall 1 2
> Building Cost ### 50 2.0% - - - 6,355,051,885 6,355,051,885
> Sarana Pelengkap
- Perkerasan Halaman 325,164,858 20 5.0% - 16,258,243 16,258,243
- Pagar 158,937,083 20 5.0% - 7,946,854 7,946,854
- Taman 20 5.0% - - - - -
> M/E Cost ### 20 5.0% - 5,873,663,903 5,873,663,903

Total Depreciation Cost ### - - - 12,252,920,885 12,252,920,885

Accumulative Dep. Cost - - - 12,252,920,885 24,505,841,770

AMORTIZATION
Legal and Permit 8,897,072,639 5 20.0% 1,779,414,528 1,779,414,528 1,779,414,528 1,779,414,528 1,779,414,528
Consultant Fee 8,261,567,450 5 20.0% 1,652,313,490 1,652,313,490 1,652,313,490 1,652,313,490 1,652,313,490
Others Cost ### 5 20.0% 3,495,278,537 3,495,278,537 3,495,278,537 3,495,278,537 3,495,278,537
Interest During Construction 4,448,536,319 5 20.0% 889,707,264 889,707,264 889,707,264 889,707,264 889,707,264
Total Amortization Cost ### 7,816,713,818 7,816,713,818 7,816,713,818 7,816,713,818 7,816,713,818
Accumulative Amort. 7,816,713,818 15,633,427,637 23,450,141,455 31,266,855,273 39,083,569,091
 31-Dec-25 31-Dec-26 31-Dec-27 31-Dec-28 31-Dec-29 31-Dec-30 31-Dec-31 31-Dec-32 31-Dec-33
6 7 8 9 10 11 12 13 14

3 4 5 6 7 8 9 10 11
6,355,051,885 6,355,051,885 6,355,051,885 6,355,051,885 6,355,051,885 6,355,051,885 6,355,051,885 6,355,051,885 6,355,051,885

16,258,243 16,258,243 16,258,243 16,258,243 16,258,243 16,258,243 16,258,243 16,258,243 16,258,243

7,946,854 7,946,854 7,946,854 7,946,854 7,946,854 7,946,854 7,946,854 7,946,854 7,946,854
- - - - - - - - -
5,873,663,903 5,873,663,903 5,873,663,903 5,873,663,903 5,873,663,903 5,873,663,903 5,873,663,903 5,873,663,903 5,873,663,903

12,252,920,885 12,252,920,885 12,252,920,885 12,252,920,885 12,252,920,885 12,252,920,885 12,252,920,885 12,252,920,885 12,252,920,885

36,758,762,655 49,011,683,540 61,264,604,425 73,517,525,310 85,770,446,195 98,023,367,080 110,276,287,965 122,529,208,850 134,782,129,735

- - - - - - - - -
39,083,569,091 39,083,569,091 39,083,569,091 39,083,569,091 39,083,569,091 39,083,569,091 39,083,569,091 39,083,569,091 39,083,569,091
 31-Dec-34 31-Dec-35
15 16

12 13
6,355,051,885 6,355,051,885

16,258,243 16,258,243
7,946,854 7,946,854
- -
5,873,663,903 5,873,663,903

12,252,920,885 12,252,920,885
147,035,050,620 159,287,971,505

- -
39,083,569,091 39,083,569,091
Phase 1

Land Area 78.126

Regulasi
KDB 47.30% 36.9536
KLB 2.8 218.7528
RTH 0.00% 0

Total GFA
Regulation 218.7528
Plant 177,529

I . Grand Medley (South )

Luas
Number Car Parking
Description Tapak GFA (Sqm) Basement
of Floor (Sqm)
(Sqm)
- Shoping Mall 3.5 12,414 43,449 2 25,345

53,124 30,989

Luas
Number Car Parking
Description Tapak GFA (Sqm) Basement
of Floor (Sqm)
(Sqm)
- Condotel 20 1,150 23,000 5 5,600
- Hotel 15 1,150 17,250 4 4,200
Efektif Lot
area Parking

11,949 724

885

Number Lot
Of Unit Parking

240 160
180 120
 Keterangan Satuan
2018

- Phase I
Mall
Rentable Area 11,949 Sqm
- Anchor 40%
- Standar 60%

Tarif Mall
Base Rent Area
- Anchor Sqm/month 150,000
- Standar Sqm/month 350,000

Service Charge
- Anchor Sqm/month
- Standar Sqm/month

Occupancy Tenant
Anchor %
Standar %

Biaya-biaya
Biaya Operasional mall dari pendapatan service charge
Reserve for replacement dari pendapatan total
Biaya Pemasaran dari pendapatan total
Biaya Administrasi & Umumdari pendapatan total
PBB
2018
Condotel

- Total Unit ( @ 72,5 ) 240 Unit

- Harga per m2 30,000,000
- Harga Unit ### per unit 2,175,006,905

Sales Program

Biaya Operasional
- Biaya Marketing dari total penjualan
- Admin & General dari total penjualan

Growth Rate 3.0%

2018
Hotel
Jumlah hari kerja/tahun
Jumlah hari kerja/bulan
Inflasi

Pendapatan Hotel
Pendapatan Kamar
Jumlah dan tipe kamar
Deluxe 180 unit
Executive
Suit
President Suit

Occupancy

Harga Rata-Rata kamar 2,000,000

Revenue
Room dari pendapatan kamar
F&B dari pendapatan kamar
Other dari pendapatan kamar

Department Expense
Room dari pendapatan kamar
F&B dari pendapatan F&B
Other dari pendapatan others

Undistributed Expense
Administration & General dari total pendapatan
Marketing dari total pendapatan
POMEC dari total pendapatan
Basic Management Fee dari total pendapatan
Replacement Reserve dari total pendapatan
Insurance

Beach Club
 31-Dec-19 31-Dec-20 31-Dec-21 31-Dec-22 31-Dec-23
1

- - - - 4,779
- - - - 7,169

3.33%
155,000 160,167 165,506 171,022 176,723
361,667 373,722 386,180 399,052 412,354

75,000 77,500 80,083 82,753 85,511

150,000 155,000 160,167 165,506 171,022

0% 0% 0% 0% 100%
0% 0% 0% 0% 50%

80% 80% 80% 80% 80%

3.0% 3.0% 3.0% 3.0% 3.0%
3.0% 3.0% 3.0% 3.0% 3.0%
2.2% 2.2% 2.2% 2.2% 2.2%

31-Dec-19 31-Dec-20 31-Dec-21 31-Dec-22 31-Dec-23

2,240,257,112 2,307,464,825 2,376,688,770 2,447,989,433 2,521,429,116

3% 5% 5% 5% 5%
3.0% 3.5% 3.5% 3.5% 3.5%

31-Dec-19 31-Dec-20 31-Dec-21 31-Dec-22 31-Dec-23

 0 0 0 0 0
12 12 12 12 12
3.33% 3.33% 3.33% 3.33% 3.33%

2,066,667 2,135,556 2,206,741 2,280,299 2,356,309

100% 100% 100% 100% 100%

40.0% 40% 40% 40% 40%
4.0% 4% 4% 4% 4%

13% 13% 13% 13% 13%

50% 50% 50% 50% 50%
50% 50% 50% 50% 50%

9% 9% 9% 9% 9%
3% 3% 3% 3% 3%
10% 10% 10% 10% 10%
5.0% 5% 5% 5% 5%
2.0% 2% 2% 2% 2%
0.22% 0.22% 0.22% 0.22% 0.22%
 Tahun
Operation Period
31-Dec-24 31-Dec-25 31-Dec-26 31-Dec-27 31-Dec-28
2 3 4 5 6

4,779 4,779 4,779 4,779 4,779

7,169 7,169 7,169 7,169 7,169

182,614 188,701 194,991 201,491 208,207

426,099 440,302 454,979 470,145 485,817

88,362 91,307 94,351 97,496 100,745

176,723 182,614 188,701 194,991 201,491

100% 100% 100% 100% 100%

50% 60% 75% 75% 75%

80% 80% 80% 80% 80%

3.0% 3.0% 3.0% 3.0% 3.0%
3.0% 3.0% 3.0% 3.0% 3.0%
2.2% 2.2% 2.2% 2.2% 2.2%

31-Dec-24 31-Dec-25 31-Dec-26 31-Dec-27 31-Dec-28

2,597,071,989 2,674,984,149 2,755,233,674 2,837,890,684 2,923,027,404

60 60 60 60

5% 5% 5% 5% 5%
3.5% 3.5% 3.5% 3.5% 3.5%

31-Dec-24 31-Dec-25 31-Dec-26 31-Dec-27 31-Dec-28

 0 0 0 0 0
12 12 12 12 12
3.33% 3.33% 3.33% 3.33% 3.33%

- -

50%

2,434,852 2,516,014 2,599,881 2,686,544 2,776,095

100% 100% 100% 100% 100%

40% 40% 40% 40% 40%
4% 4% 4% 4% 4%

13% 13% 13% 13% 13%

50% 50% 50% 50% 50%
50% 50% 50% 50% 50%

9% 9% 9% 9% 9%
3% 3% 3% 3% 3%
10% 10% 10% 10% 10%
5% 5% 5% 5% 5%
2% 2% 2% 2% 2%
0.22% 0.22% 0.22% 0.22% 0.22%
 31-Dec-29 31-Dec-30 31-Dec-31 31-Dec-32
7 8 9 10

4,779 4,779 4,779 4,779

7,169 7,169 7,169 7,169

215,147 222,319 229,730 237,387

502,011 518,744 536,036 553,904

104,104 107,574 111,159 114,865

208,207 215,147 222,319 229,730

100% 100% 100% 100%

75% 75% 75% 75%

80% 80% 80% 80%

3.0% 3.0% 3.0% 3.0%
3.0% 3.0% 3.0% 3.0%
2.2% 2.2% 2.2% 2.2%

31-Dec-29 31-Dec-30 31-Dec-31 31-Dec-32 31-Dec-33

3,010,718,226 3,101,039,773 3,194,070,966 3,289,893,095 3,388,589,888

5% 5% 5% 5% 5%
3.5% 3.5% 3.5% 3.5% 3.5%

31-Dec-29 31-Dec-30 31-Dec-31 31-Dec-32 31-Dec-33

1 2 3 4 5
 365 365 365 365 365
12 12 12 12 12
3.33% 3.33% 3.33% 3.33% 3.33%

180 180 180 180 180

55% 55% 55% 60% 60%

2,868,632 2,964,253 3,063,061 3,165,163 3,270,669

100% 100% 100% 100% 100%

40% 40% 40% 40% 40%
4% 4% 4% 4% 4%

13% 13% 13% 13% 13%

50% 50% 50% 50% 50%
50% 50% 50% 50% 50%

9% 9% 9% 9% 9%
3% 3% 3% 3% 3%
10% 10% 10% 10% 10%
5% 5% 5% 5% 5%
2% 2% 2% 2% 2%
0.22% 0.22% 0.22% 0.22% 0.22%
 31-Dec-34 31-Dec-35 31-Dec-36 31-Dec-37 31-Dec-38

3,490,247,585 ### 3,702,803,663 ###

5% 5% 5% 5% 5%
3.5% 3.5% 3.5% 3.5% 3.5%

31-Dec-34 31-Dec-35 31-Dec-36 31-Dec-37 31-Dec-38

6 7 8 9 10
 365 365 365 365 365
12 12 12 12 12
3.33% 3.33% 3.33% 3.33% 3.33%

180 180 180 180 180

60% 60% 60% 60% 60%

3,379,691 3,492,348 3,608,759 3,729,051 3,853,353

100% 100% 100% 100% 100%

40% 40% 40% 40% 40%
4% 4% 4% 4% 4%

13% 13% 13% 13% 13%

50% 50% 50% 50% 50%
50% 50% 50% 50% 50%

9% 9% 9% 9% 9%
3% 3% 3% 3% 3%
10% 10% 10% 10% 10%
5% 5% 5% 5% 5%
2% 2% 2% 2% 2%
0.22% 0.22% 0.22% 0.22% 0.22%
31-Dec-39

5%
3.5%
ASTON TB. SIMATUPANG
Jalan TB. Simatupang no. Jakarta Selatan

Appendix :
Owners :
Analysis : Income Statement
100%

0 %

Mall
Revenue :
Rental Space
- Anchor
- Standar
Total Pendapatan Base Rent Area

Service Charge
- Anchor
- Standar
Total Pendapatan Service Charge

Total Pendapatan

Operating Expenses :
Biaya Operasional mall dari pendapatan service ch 80.0%
Reserve for replacement dari pendapatan total 3.0%
Biaya Pemasaran dari pendapatan total 3.0%
Biaya Administrasi & Umum dari pendapatan total 2.2%
Insurance
PBB 0 0.0%
Total Biaya

EBITDA
Depreciation
Amortization

EBIT
Interest (Equity 100%)

Earning Before Tax

Taxed 25.00%
Net Income
Accumulative Net Income

Condotel DSR002:
apakah Biaya PPn termasuk didalam Biaya
Revenue :
Unit Sales

Biaya Operasional
- Biaya Marketing 3%
- Admin & General 3%
Insurance
Standar 0 0.0%

EBITDA
Depreciation
Amortization

EBIT
Interest (Equity 100%)

Earning Before Tax

Taxed 25.00%

Net Income
Accumulative Net Income

Hotel

Revenue
Room dari pendapatan kamar
F&B dari pendapatan kamar
Other dari pendapatan kamar
Total Revenue

Operating Expenses :
Departement Cost :
Room dari pendapatan kamar
F&B dari pendapatan F&B
Other dari pendapatan others

Undistributed Expenses :
Administration & General dari total pendapatan
Marketing dari total pendapatan
POMEC dari total pendapatan
Basic Management Fee dari total pendapatan
Replacement Reserve dari total pendapatan
Insurance
Property Tax

Total Operating Expenses :

Profit Margin
Insentive Management Fee

EBITDA
Depreciation
Amortization

EBIT
Interest (Equity 100%)

Earning Before Tax

Taxed 25.00%

Net Income
Accumulative Net Income
 31-Dec-19 31-Dec-20 31-Dec-21 31-Dec-22

12 12 12 12

- - - -
- - - -
- - - - -

- - - -
- - - -
- - - - -

### - - - -

### - - - -
22,914,881,382 - - - -
22,914,881,382 - - - -
16,804,246,347 - - - -

-
### - - - -

- - - -
- - - -
### 7,816,713,818 7,816,713,818

- ### - 7,816,713,818 - 7,816,713,818

- ### - 7,816,713,818 - 7,816,713,818

- - -
 ### - 7,816,713,818 - 7,816,713,818
### -15,633,427,637 ###

ermasuk didalam Biaya

- - - -

- - - -
- - - -

- - - -

- - - -

- - - -
- - - -

- - -
- - -

- - - -
- - - -
- - - -

- - - -
- - - -
- - - -

- - - -
- - - -
- - - -
- - - -
- - - -
- - - -

- - - -

- - - -
- - - -
- - - -

- - - -

- - - -
- - - -

- - -
- - -
 31-Dec-23 31-Dec-24 31-Dec-25 31-Dec-26
1 2 3 4
12 12 12 12

### 10,473,542,699 10,822,660,789 11,183,416,149

### 18,328,699,724 22,727,587,657 29,356,467,391
### 28,802,242,423 33,550,248,446 40,539,883,539

4,904,364,427 5,067,843,242 5,236,771,350 5,411,330,395

7,356,546,641 7,601,764,862 9,426,188,429 12,175,493,388
### 12,669,608,104 14,662,959,779 17,586,823,782

### 41,471,850,527 48,213,208,225 58,126,707,322

9,808,728,855 10,135,686,483 11,730,367,823 14,069,459,026

1,204,021,467 1,244,155,516 1,446,396,247 1,743,801,220
1,204,021,467 1,244,155,516 1,446,396,247 1,743,801,220
882,949,076 912,380,712 1,060,690,581 1,278,787,561

### 13,536,378,226 15,683,850,898 18,835,849,026

### 27,935,472,300 32,529,357,328 39,290,858,296

### 12,252,920,885 12,252,920,885 12,252,920,885
7,816,713,818 7,816,713,818 - -

6,964,693,329 7,865,837,597 20,276,436,443 27,037,937,411

6,964,693,329 7,865,837,597 20,276,436,443 27,037,937,411

1,741,173,332 1,966,459,399 5,069,109,111 6,759,484,353
5,223,519,997 5,899,378,198 15,207,327,332 20,278,453,058
### ### 2,880,084,072 23,158,537,130

- ### ### 165,314,020,417

- 3,895,607,984 4,012,476,224 4,132,850,510

- 4,674,729,581 4,814,971,468 4,959,420,613

- ### ### 156,221,749,294

- ### ### 156,221,749,294

- ### ### 156,221,749,294

- 36,813,495,451 37,917,900,314 39,055,437,324

- ### ### 117,166,311,971

- ### ### 341,360,499,265

- - - -
- - - -
- - - -

- - - -
- - - -
- - - -

- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- - - -

- - - -

- - - -
- - - -
- - - 3,769,431,062

- - - - 3,769,431,062

- - - - 3,769,431,062
- - - - 942,357,766

- - - (2,827,073,297)
- - - (2,827,073,297)
 31-Dec-27 31-Dec-28 31-Dec-29 31-Dec-30
5 6 7 8
12 12 12 12

11,556,196,687 11,941,403,243 12,339,450,018 12,750,765,019

30,335,016,304 31,346,183,514 32,391,056,298 33,470,758,174
41,891,212,991 43,287,586,757 44,730,506,316 46,221,523,193

5,591,708,074 5,778,098,344 5,970,701,622 6,169,725,009

12,581,343,167 13,000,721,273 13,434,078,649 13,881,881,270
18,173,051,242 18,778,819,617 19,404,780,270 20,051,606,279

60,064,264,233 62,066,406,374 64,135,286,586 66,273,129,472

14,538,440,993 15,023,055,693 15,523,824,216 16,041,285,024

1,801,927,927 1,861,992,191 1,924,058,598 1,988,193,884
1,801,927,927 1,861,992,191 1,924,058,598 1,988,193,884
1,321,413,813 1,365,460,940 1,410,976,305 1,458,008,848

19,463,710,661 20,112,501,016 20,782,917,716 21,475,681,640

40,600,553,572 41,953,905,358 43,352,368,870 44,797,447,832

12,252,920,885 12,252,920,885 12,252,920,885 12,252,920,885
- - - -

28,347,632,687 29,700,984,473 31,099,447,985 32,544,526,947

28,347,632,687 29,700,984,473 31,099,447,985 32,544,526,947

7,086,908,172 7,425,246,118 7,774,861,996 8,136,131,737
 21,260,724,515 22,275,738,355 23,324,585,989 24,408,395,210
44,419,261,645 66,695,000,000 90,019,585,988 114,427,981,199

170,273,441,030 - - -

4,256,836,026
5,108,203,231

160,908,401,773

160,908,401,773

160,908,401,773
40,227,100,443

120,681,301,330
462,041,800,594
1 2

- - - 103,658,014,265 - 107,113,281,407
- - - 41,463,205,706 - 42,845,312,563
- - - 4,146,320,571 - 4,284,531,256

- - - 13,475,541,854 - 13,924,726,583
- - - 20,731,602,853 - 21,422,656,281
- - - 2,073,160,285 - 2,142,265,628

- - - -
- - - -
- - - -
- - - -
- - - -
 - - - 36,280,304,993 - 37,489,648,493

- - 36,280,304,993 37,489,648,493

- - 36,280,304,993 37,489,648,493
- - 13,629,635,478 13,629,635,478
3,769,431,062 3,769,431,062 3,769,431,062 3,769,431,062

- 3,769,431,062 - 3,769,431,062 18,881,238,453 20,090,581,952

- 3,769,431,062 - 3,769,431,062 18,881,238,453 20,090,581,952

- 942,357,766 - 942,357,766 4,720,309,613 5,022,645,488

(2,827,073,297) (2,827,073,297) 14,160,928,839 15,067,936,464

(5,654,146,594) (8,481,219,890) 5,679,708,949 20,747,645,413
 Rp. 000,-

31-Dec-31 31-Dec-32 31-Dec-33 31-Dec-34

9 10
12 12

13,175,790,519 13,614,983,537
34,586,450,113 35,739,331,784
47,762,240,633 49,354,315,320

6,375,382,509 6,587,895,260
14,344,610,646 14,822,764,334
20,719,993,155 21,410,659,594

68,482,233,788 70,764,974,914

16,575,994,524 17,128,527,675
2,054,467,014 2,122,949,247
2,054,467,014 2,122,949,247
1,506,609,143 1,556,829,448

22,191,537,695 22,931,255,618

46,290,696,093 47,833,719,296
12,252,920,885 12,252,920,885
- -

34,037,775,208 35,580,798,411

34,037,775,208 35,580,798,411
8,509,443,802 8,895,199,603
 25,528,331,406 26,685,598,808
139,956,312,605 166,641,911,413

- - - -

3 4 5 6

- 110,683,724,121 - 124,770,743,554 - 128,929,768,340 - 133,227,427,284

- 44,273,489,648 - 49,908,297,422 - 51,571,907,336 - 53,290,970,914
- 4,427,348,965 - 4,990,829,742 - 5,157,190,734 - 5,329,097,091

- 14,388,884,136 - 16,220,196,662 - 16,760,869,884 - 17,319,565,547

- 22,136,744,824 - 24,954,148,711 - 25,785,953,668 - 26,645,485,457
- 2,213,674,482 - 2,495,414,871 - 2,578,595,367 - 2,664,548,546

- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- 38,739,303,442 - 43,669,760,244 - 45,125,418,919 - 46,629,599,550

38,739,303,442 43,669,760,244 45,125,418,919 46,629,599,550

38,739,303,442 43,669,760,244 45,125,418,919 46,629,599,550

13,629,635,478 13,629,635,478 13,629,635,478 13,629,635,478
- - - -

25,109,667,965 30,040,124,766 31,495,783,441 32,999,964,072

25,109,667,965 30,040,124,766 31,495,783,441 32,999,964,072

6,277,416,991 7,510,031,192 7,873,945,860 8,249,991,018

18,832,250,973 22,530,093,575 23,621,837,581 24,749,973,054

39,579,896,387 62,109,989,962 85,731,827,542 110,481,800,596
31-Dec-35 31-Dec-36 31-Dec-37

- -

- -
 -

7 8 9 10

- 137,668,341,527 - 142,257,286,245 - 146,999,195,786 - 151,899,168,979

- 55,067,336,611 - 56,902,914,498 - 58,799,678,314 - 60,759,667,592
- 5,506,733,661 - 5,690,291,450 - 5,879,967,831 - 6,075,966,759

- 17,896,884,399 - 18,493,447,212 - 19,109,895,452 - 19,746,891,967

- 27,533,668,305 - 28,451,457,249 - 29,399,839,157 - 30,379,833,796
- 2,753,366,831 - 2,845,145,725 - 2,939,983,916 - 3,037,983,380

- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- 48,183,919,534 - 49,790,050,186 - 51,449,718,525 - 53,164,709,143

48,183,919,534 49,790,050,186 51,449,718,525 53,164,709,143

48,183,919,534 49,790,050,186 51,449,718,525

13,629,635,478 13,629,635,478 13,629,635,478 13,629,635,478
- - - -

34,554,284,057 36,160,414,708 37,820,083,047 - 13,629,635,478

34,554,284,057 36,160,414,708 37,820,083,047 - 13,629,635,478

8,638,571,014 9,040,103,677 9,455,020,762 - 3,407,408,869

25,915,713,043 27,120,311,031 28,365,062,286 (10,222,226,608)

136,397,513,639 163,517,824,670 191,882,886,955 181,660,660,347
ASTON TB. SIMATUPANG
Jalan TB. Simatupang no. Jakarta Selatan

Appendi :
Owners :
Analysis : Working Capital Hotel
100%
ITEM 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
0 1 2 3 4 5 6 7 8 9

Mall
Revenue :
Rental Space - ### ### ### ### ### ### ### ### ###
Service Charge - ### ### ### ### ### ### ### ### ###
Total Revenue - ### ### ### ### ### ### ### ### ###

Account Receivable ### ### ### ### ### ### ### ### ###
5.0%
Operating Expenses : ### ### ### ### ### ### ### ### ###
- Invento 1.92% 251,917,709 260,314,966 301,612,517 362,227,866 374,302,128 386,778,866 399,671,495 412,993,878 426,760,340

Account Pay 4% 503,835,418 520,629,932 603,225,035 724,455,732 748,604,256 773,557,731 799,342,989 825,987,755 853,520,681

Working Capital ### ### ### ### ### ### ### ### ###
Net Working Capital ### 58,492,825 295,770,334 435,059,606 84,803,583 87,630,369 90,551,382 93,569,761 96,688,753
 Rp. 000,-
2024 2025 2026 2027 2028 2029
10 11 12 13 14 15

### ### ### ### - -

### ### ### ### - -
### ### ### ### - -

### ### ### ### - -

### ### ### ### - -

440,985,685 561,696,619 580,419,839 599,767,167 - -

881,971,370 ### ### ### - -

### ### ### ### - -

99,911,712 868,022,346 132,176,180 136,582,053 -
ASTON TB. SIMATUPANG
Jalan TB. Simatupang no. Jakarta Selatan

Appendix :
Owners :
Analysis : Cash Flow
100%
ITEM 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
0 1 2 3 4 5 6 7 8 9
 Rp. 000,-
2024 2025 2026 2027 2028 2029
10 11 12 13 14 15