The manager noted in its outlook statement that certain master leases at Lippo Mall Kemang in South Jakarta, which are now held by wholly owned subsidiary Kemang Mall Terpadu, will expire on Dec 16 - a change that is expected to have a negative impact on rental income. On a pro forma basis, distributable income for the nine months could have taken a 17.7 per cent hit, on a 8.7 per cent decline in net property income, if the master leases expired on Jan 1. But James Liew, chief executive of the manager, said in a statement that the firm "is actively managing the tenancy mix of Lippo Mall Kemang", including converting the area previously occupied by department store Matahari into specialty and entertainment outlets.