1
Financial Year 2009 Results
25 Jan 2010
Contents
2
� Opening Remarks by Group CEO
� Financial Performance
� Operations Review
� Market Outlook
� Going Forward
2
3
Opening Remarks by Group CEO
4
Recovering Market
� PATMI up 23.1% to $280m
� Strong sales of the Group’s residential projects
in Singapore and overseas
� MBFC and OFC saw increased pre-commitments
on the back of a stabilising office market
� Strategic acquisitions in key growth cities in Asia
3
5
Primed For An Upswing
� Strong financial position � Keppel Land’s and K-REIT Asia’s successful
completion of the Rights Issue
� Substantial room for further investment from
Alpha’s two funds
� Healthy balance sheets facilitate acquisition of
quality investments
� Luxury residential projects and prime offices
positioned near both Integrated Resorts
� Time launches to capitalise on rebound of Asia
Positioning
for Upturn
Robust
Sales
6
Highlights
Stronger
Earnings
� Sold about 3,500 units in 2009
– Singapore : 384 units
– Overseas : About 3,100 units, mostly in China
�Keppel Land rights issue
�New acquisitions in China and Vietnam
�Delisting of Evergro Properties
�K-REIT Asia’s rights issue
� FY09 PATMI reached $280m
� FY09 PATMI up 23.1% over FY08
4
7
Financial Performance
8
FY2009 FY2008 % Chg
Turnover $923.9m $842.2m 9.7
EBITDA $211.4m $239.4m (11.7)
Operating Profit $201.9m $231.7m (12.9)
Pre-tax Profit $358.6m $314.0m 14.2
PATMI-Before Net Fair Value Gain/
Others*
- After Net Fair Value Gain/
Others*
$250.2m
$280.4m
$213.3m
$227.7m
17.3
23.1
Financial Performance – FY2009 vs. FY2008
*Net fair value gain on investment properties (after adjusting for tax and minority interests) and gain on acquisition of additional
interest in K-REIT Asia
5
9
4Q2009 4Q2008 % Chg
Turnover $300.5m $197.4m 52.2
EBITDA $61.8m $59.1m 4.6
Operating Profit $59.4m $56.7m 4.8
Pre-tax Profit $111.7m $95.1m 17.5
PATMI
-Before Net Fair Value Gain/ Others*
- After Net Fair Value Gain/ Others*
$76.6m
$106.9m
$61.5m
$68.5m
24.6
56.1
Financial Performance – 4Q2009 vs. 4Q2008
*Net fair value gain on investment properties (after adjusting for tax and minority interests) and gain on acquisition of additional
interest in K-REIT Asia
10
FY2009 FY2008 % Chg
EPS
- Before Net Fair Value Gain* 22.6cts 22.1cts(1) 2.3
- After Net Fair Value Gain* 24.2cts 22.4cts(1) 8
ROE
- Before Net Fair Value Gain* 9.4% 9.7% (3.1)
- After Net Fair Value Gain* 10.1% 9.9% 2
NTA / Share $2.36 (2) $3.39 (30.4)
Net Debt/Equity Ratio 0.22x 0.52x (57.7)
Key Financial Ratios
*Net fair value gain on investment properties (after adjusting for tax and minority interests)
(1) EPS has been restated to include the effect of the rights issue
(2) Lower due to the effect of the rights issue
6
11
Breakdown of PATMI- Business Segment
Business Segment FY2009 FY2008 % Chg Comments
Property
Trading$196.4m $160m 22.8
Higher due to increased contribution
from Singapore and overseas projects
Property
Investment$43.3m $46.6m (7.1)
Lower due mainly to a write-back of cost
in connection with the restructuring of
ORQ in 2008
Fund Management $21.5m $21.1m 1.9Higher due mainly to higher fee income
from Alpha and K-REIT Asia Management
Hotels / Resorts $4.2m ($0.4m) nmImproved due mainly to higher hotel occupancy rates
Others ($15.2m) ($14m) nmDue mainly to write-back of cost
provision and gain from sale of interest in
Singapore Computer Systems in 2008
Sub-total
Net fair value gain on investment properties
Gain on acquisition of additional interest in K-REIT Asia
Total $280.4m $227.7m 23.1
$250.2m $213.3m
$19.1m
$11.1m
$3.7m
$10.7m
17.3
416.2
3.7
12
Geographical
LocationFY2009 FY2008 Comments
Singapore $171.5m 68.5% $150.4m 70.5%
Higher due mainly to higher
trading profits and rental
income and profit
contribution from Alpha
Investment Partners and
K-REIT Asia
Overseas $78.7m 31.5% $62.9m 29.5%Higher due mainly to
increased profit contribution
from China and Vietnam
Sub-total
Net fair value gain on
investment properties
Gain on acquisition of
additional interest in
K-REIT Asia
100% 100%
Total $280.4m $227.7m
Breakdown of PATMI- Geographical Location
$250.2m $213.3m
$19.1m
$11.1m $10.7m
$3.7m-
-
-
-
- -
7
13
Project% of
Sales
% of
Completion
Profit
Recognised
in FY2009
Marina Bay Residences (428 units) 100% 86.7% $74.4m
Reflections at Keppel Bay (1,129 units) 56.4% 36.6% $20.5m
Caribbean at Keppel Bay (168 remaining units) 66.7% 100% $19.2m
The Sixth Avenue Residences (175 units) 100% 100% $18m
The Arcadia, Tianjin, China (168 units) 39.9% 100% $13.4m
The Botanica, Chengdu, China (9,400 units)
Ph 1 (970 units) 99.8% 100%
$12.1mPh 2 (1,476 units) 99.5% 100%
Ph 3 (1,048 units) 99.7% 90.7%
Ph 4 (1,028 units) 99% 85.1%
Villa Riviera, Shanghai (168 units)
Ph 1 (42 units) 100% 100%
$9.8mPh 2 (46 units) 74.9% 99.7%
Ph 3 (80 units) 80.9% 95%
Notes on Profit Recognition
FY2009 FY2008
Net Debt $0.8 bn $ 1.5bn
Avg Interest Rate of Borrowings 2.3% 2.5%
% Fixed Rate Debt 26% 15%
Avg Debt Maturity 1.49yrs 2.03yrs
Interest Cover Ratio(1)
12.7x 10.4x
(1) Interest Cover Ratio = Profit Before Interest and Tax
Net Interest Cost Expensed and Capitalised
14
Healthy Balance Sheet
8
15
Financial Management
Financial Flexibility
Rights issue raised gross proceeds : $708 million from 649.2m
shares issued
Healthy cash balances : $0.9 billion as at end-Dec 2009
Dividend reinvestment scheme conserve cash : 34.3m shares
Enlarged market capitalisation : $4.9 billion as at 22 Jan 2010
Gearing improved by more than 50% y-o-y
Source of Funds
MTN programme : US$800m (Unutilised US$569m)
• Recently refinanced $180m of debt by issuing 3 and 5 year notes
Funds from operations and related companies
Lines of credit
Debt Management
Capital and loan markets improving and refinancing on track
Convert more into fixed debt in low interest rate environment
• Increased fixed portion of debt from 15% to 26%
Low cost of funds : 2.3% as at end-Dec 2009
16
Operations Review
9
17
Singapore
Singapore Residential
Strong sales in 2009 : Sold 384 units
18
Main Projects No. of Units Sold in FY2009
Marina Bay Suites 89
Caribbean at Keppel Bay 141
Reflections at Keppel Bay 35
Madison Residences 54
Marina Bay Suites Caribbean at Keppel Bay Madison Residences
Positive sentiment spilled over to mid to higher-end segments
10
19
Higher pre-commitments at MBFC and OFC
Singapore Commercial – MBFC and OFC
Marina Bay Financial Centre (MBFC)
• New take-ups
- Nomura : About 102,000 sf
- BHP Billiton : Additional 89,000 sf
- Servcorp : About 22,000 sf
• Total take-up in 2009 : 213,000 sf
• Overall pre-commitment : 68%
• Ph 1 : 1.6m sf
- Towers 1 & 2 : 79% pre-leased
• Ph 2 : 1.3m sf
- Tower 3 : 55% pre-leased
Ocean Financial Centre (OFC)
• New take-ups
- Pre-leased 139,000 sf
• Total NLA : 850,000 sf
• 4th generation building to rise at
former Ocean Building site
T1
T3
T2
MBRMBS
20
Singapore Commercial
KLL’s Properties Valuations as at
Dec 2009
($/psf)
Valuations as at
Dec 2008
($/psf)
Equity Plaza $1,200 $1,275
Keppel Bay Tower $1,100 $1,050
K-REIT Asia’s
Properties
Valuations as
at Dec 2009
($/psf)
Valuations as
at Dec 2008
($/psf)
Prudential Tower $1,850 $2,065
Keppel Towers and
GE Tower
$1,260 $1,350
Bugis Junction
Towers
$1,200 $1,265
One Raffles Quay $2,100 $2,215
Slight fair value loss for completed investment properties
• Mainly from KREIT Asia’s portfolio
Offset by net fair value gain from investment properties under construction
Overall investment values have held
Prime Office Values Compared to : Valuations as at Dec 2009 ($/psf) Valuations as at Dec 2008 ($/psf)
CBRE $1,550 $2,600
Jones Lang LaSalle $1,700 $2,480
Portfolio valuation on psf basis at lower end of market valuation for prime office
11
21
Singapore Commercial – K-REIT Asia
Distributable income up 21.1% from y-o-y
• Distributable income for FY 2009: $70.5m
• DPU for FY09 : 5.28 cents
• Committed occupancy as at end-Dec 2009 : 95%
• Average portfolio rent in Dec 09 : $8.16 psf (1)
(1) $8.37 psf if not for lower income support from 1/3 interest in ORQ
(2) Assuming aggregate leverage of 30% to 40%, based on FY2009 AUM of $2.1 billion
Continued Income Growth
Strengthened balance sheet with rights issue
• Raise gross proceeds of about $620m
• Increase debt headroom by about $438.3m-$647.8m(2)
• Use of proceeds for :
- Repayment of borrowings
- Funding of potential acquisitions and asset enhancement
initiatives at Keppel Towers and GE Tower
RightsIssue
Enlarged Portfolio NLA
Total portfolio NLA up 5.5% y-o-y
• Completed first third-party acquisition of 6 floors in Prudential Tower
• Strategic acquisition resulting in a 73.4% controlling stake enabling
efficient management of the asset’s income
22
Overseas
12
Overseas – China
Western Region
Greater Bohai Rim Region
Yangtze River Delta Region
WuxiChangzhou
Chengdu
Tianjin
Jiangyin
Shanghai
Beijing
Shenyang
Kunming
Zhongshan
In China since early 1990s
• Secured first residential project,
One Park Avenue in Shanghai in 2000
Presence in 10 cities in key regions
• Total GFA : 7.2 million sm
• More than 30,000 homes in the pipeline
Types of development
• Condominiums
• Villas
• Townships
• Tianjin Eco-City
About 15% of assets invested in China
• About S$1 billion
23
Keppel Land Extensive Presence in China
24
Overseas – China
Strengthen position in China
Acquired waterfront township site in Shenyang
• Second township acquisition in Shenyang
• Total land area : 30.3 ha for about 6,000 units
Stronger growth platform with delisting of Evergro
• Maximise potential of existing portfolio
• Increased landbank by 3.2 million sm GFA
• Widened footprint in secondary cities
Consortium and project manager (35.4 ha) for
Tianjin Eco-City
• Commenced first development for Phase 1 (1,716 units)
• Total units in 35.4 ha of SUA : 5,033 units
• Potential to leverage on the total area of 30 sq km for
future developments
13
25
Strong sales of township and villa projects
Overseas – China
The Botanica,
Chengdu
Sold in 2009 :
1,237 units
Central Park
City, Wuxi
Sold in 2009 :
732 units
Villa Riviera,
Shanghai
Sold in 2009 :
71 units
The Arcadia,
Tianjin
Sold in 2009 :
41 units
Sold about 2,600 units in 2009 in key and secondary cities
26
Overseas – Vietnam
• Waterfront township development at South Rach Chiec , District 2
- Total site area : 30-ha
- Total : About 4,700 units
- Phase 1 launch : 2011
• Waterfront villa development, District 12
- Fronting Saigon River
- Total site area : 11-ha
- Total units : 175 villas
Acquired prime waterfront residential sites in HCMC
14
Overseas – Vietnam
27
Good responses for new and existing projects
New Launch – Riviera Cove, HCMC
Total units sold in 4Q09 : 49 units
82% of 60 launched units sold
Existing Project – The Estella, HCMC
Total units sold in 2009 : 149 units
67% of 633 launched units sold
Overseas – India and Indonesia
28
Improving sales in line with economic recovery
Elita Promenade, Bangalore
Sold in 4Q09 : 37 units
Total sold in 2009 : 69 units
90% of 1,457 launched units sold
Elita Garden Vista, Kolkata
Sold in 4Q09 : 31 units
Total sold in 2009 : 57 units
61% of 688 launched units sold
Jakarta Garden City, Indonesia
Sold in 4Q09 : 67 units
Total sold in 2009 : 190 units
66% of 570 launched units sold
15
29
Fund Management
Alpha Investment Partners
• 4 acquisitions by Alpha Asia Macro Trends Fund
- Two retail properties in Tokyo
- Office building in Gangnam, Seoul
- A portfolio of four service apartments in Hong Kong
K-REIT Asia : Enhanced funding capacity for acquisitions
• Acquisition of additional 6 strata floors of Prudential Tower : Increased stake to 73.4%
30
Fund Management
Alpha Investment Partners :
$7.7 bn (1)
K-REIT Asia : $2.1 bn (2)
AUM:
$9.8 bn (1)
Funds under AlphaCommitted
Equity
%
Invested
No. of Countries
Invested In
Asia No. 1 Property
Fund $400m 100% 5
Alpha Core Plus Real
Estate Fund $720m 100% 4
AIB Alpha Japan Fund$259m 46% 1
Alpha Asia Macro
Trends Fund $1.7bn 22% 4(1) When fully leveraged and fully invested
(2) Includes asset revaluation
Selective acquisitions from Alpha and K-REIT Asia
16
31
Awards
32
Best Annual Report (Gold) at Singapore Corporate Awards
• Market capitalisation of $1 bn and above
Business Times revised Governance and Transparency Index (1)
• Ranked 10th out of 697 companies
SIAS Investors’ Choice Awards 2009
• Runner-up award for Most Transparent Company (Properties Category)
Euromoney Real Estate Awards 2009
• Best Office Developer in Singapore
FIABCI Indonesia – BNI Prix d’Excellence Award 2009
• Jakarta Garden City – Best Middle Class Residential Development
• Shortlisted to represent Indonesia at the FIABCI World Congress
The Guide Magazine Award 2009
• Sedona Suites, HCMC – Voted the Best Business Serviced Apartment
Golden Dragon Award (Ministry of Planning & Investment, Vietnam) 2009
• The Estella, Riviera Cove and Sedona Suites HCMC and Hanoi
Awards
(1) Replaced Business Times Corporate Transparency Index
17
33
Green Awards
Sustainability Report
• Merit Award at ACCA Singapore Awards for Sustainability Reporting
ISO 14000 certification
• Singapore property development and property management operations
• China property development operations
- Central Park Wuxi, Villa Riviera and Pudong residential project
• Vietnam property development operations
Cityscape Asia Real Estate Awards
• Ocean Financial Centre - Best Green Development (Future)
LEEDS(1) award
• Ocean Financial Centre – Platinum Award
Audubon International
• Tianjin Pearl Beach International Country Club – World’s first Audubon Classic Sanctuary
• Spring City Golf and Lake Resort – Audubon Cooperative Sanctuary Programme for Golf
Courses (ACSP)
• Ria Bintan Golf Club – First in Indonesia to obtain ACSP for Golf Courses
(1) Leadership in Energy and Environmental Design
34
BCA Green Mark Awards
Singapore
• The Promont – Gold
• Marina Bay Suites – Gold
• Sixth Avenue Residences – Gold
• MBFC Phase 2 (Commercial) – Gold Plus
• One Raffles Quay – Gold
(First building to achieve Green Mark Award under guidelines for
existing developments)
Overseas
• Riviera Cove, HCMC – Gold
• The Arcadia, Tianjin – Gold
• Residential Development, Pudong, Shanghai (Plots 1 and 3) – Gold
• Spring City (Residential – La Quinta), Kunming – Gold
18
35
Market Outlook
• Office market to improve along with economic recovery
- 4Q 2009 take-up of about 301,000 sf, positive for the second
straight quarter after 32,000 sf achieved in 3Q 2009(1)
- Pace of rent decline eases
- Positive economic growth forecast of 3% to 5% in 2010
- Increasing expansion plans by financial institutions
• Delays in construction of some office projects and redevelopment
of office buildings to other uses help reduce supply
• Singapore remains key business destination and financial hub with
good corporate governance
36
Residential
• Strong buying sentiment to continue in 2010
- 2009 take-up of 14,688(1) units, second to record take-up of
14,811 units in 2007
• Prices continue on uptrend for high-end segment
• Demand from owner-occupiers and investors
• IRs to attract more interest from foreign buyers
Market Outlook – Singapore
Office
(1) Source : URA estimates
19
Economic
Growth
Favourable
Demographics
Growing
Middle ClassRising
Affluence
Urbanisation
Trends
Asia : Property markets stabilise as Asia gradually emerges from
the global recession
• Recovery drives sales and prices in emerging markets
• Government’s measures to prevent speculation and promote healthy
recovery of the property sector
• Long term fundamentals and growth to underpin demand
37
Market Outlook – Overseas
Home
Ownership
Aspirations
38
Going Forward
20
39
Going Forward
Seek acquisitions in Singapore and overseas with
continued focus on developing quality residential, office
and township projects
K-REIT Asia and Alpha to seek acquisitions of quality
assets in Singapore and overseas
Unlock value from non-core assets at appropriate time
40
Singapore Residential
Capitalise on positive sentiments to launch remaining units of the
Marina Bay Suites and Reflections at Keppel Bay
Well-positioned to benefit from the opening of the IRs
Expect to launch remaining residential units
Marina Bay Suites Reflections at Keppel Bay
21
41
Overseas Residential – China
• Total : 2,667 units
• Launch : Phase 1 (180 units) in 2Q 2010
• Nanhui designated as part of Pudong
• Close to World Expo 2010 and Disneyland
Capitalise on strong market in Shanghai for launches
• Remaining four blocks to be launched : 394 units
• Launch : 2H 2010
• Located at prime Jingan and entertainment
shopping belt
Residential Devt, Pudong, Shanghai 8 Park Avenue, Jingan, Shanghai
42
Overseas Residential – China
More launches of township projects in secondary cities
Tianjin Eco-City
Total : 5,033 units
Launch :
Phase 1 (1,716 units)
in 2Q 2010
The Seasons,
Shenyang
Total : 4,748 units
Launch :
Phase 1 (810 units)
in 2H 2010
The Botanica,
Chengdu
Launch :
Phase 5 (1,810 units)
in 2Q 2010
Central Park City,
Wuxi
Total in Phase 2 :
1,627 units
Launch : Stage 1
(342 units) in 2Q 2010
22
43
Overseas Residential – Vietnam
Expect to launch new project
Continue to sell remaining units of The Estella and Riviera Cove
Launch Riviera Point, District 7 in HCMC
• Total site area : 8.5-ha
• Total : 2,400 waterfront condos
• Launch : 2H 2010
Riviera PointRiviera CoveThe Estella
44
Thank You
23
45
Additional Slides
46
Attributable Attributable
Land Area GFA
(%) (sf) (sf)
Reflections at Keppel Bay (1)
Keppel Bay 30% 99-yr 269,930 624,521 1,129
Marina Bay Suites (1)
Marina Bay 33.3% 99-yr 19,015 156,462 221
The Promont (1) Cairnhill Circle 100% Freehold 11,183 31,310 15
Keppel Bay Plot 3 Keppel Bay 30% 99-yr 125,366 152,999 307
Keppel Bay Plot 4 Keppel Bay 11.7% 99-yr 36,114 40,300 234
Keppel Bay Plot 6 Keppel Bay 30% 99-yr 141,429 67,813 94
Total 603,037 1,073,405 2,000
Total
Units
Project Location KLL's
Stake
Tenure
Singapore Residential Landbank
(1) Includes units sold
24
China Residential Launches
Units to Launch 2010 2011 2012
8 Park Avenue, Shanghai (1) 130 264 -
Villa Riviera, Shanghai (1) 23 - -
The Botanica, Chengdu (1) 595 1,701 1,435
The Arcadia, Tianjin (1) 86 - -
Central Park City, Wuxi (1) 878 750 700
The Seasons, Shenyang(2) 220 420 1,300
Waterfront Township Devt, Shenyang(2) - 587 588
Residential Devt, Pudong, Shanghai (2) - 265 300
Integrated Marina Lifestyle Devt, Zhongshan (2) - 343 343
Stamford City, Jiangyin (1) 465 414 -
Summer Ville, Changzhou (1) 5 - -
Serenity Cove, Tianjin (Ph 3)(1) 70 102 102
Tianjin Eco-City (35.4 ha within SUA) (2) 617 881 1,284
Total 3,089 5,727 6,052
(1) Balance units
(2) New launches47
Other Overseas Residential Launches
Units to launch 2010 2011 2012
Vietnam
The Estella, Dist. 2, HCMC (1) 294 393 300
Waterfront Condo, Binh Thanh Dist, HCMC (2) - - 350
Riviera Point, Dist. 7, HCMC (2) 300 400 400
Prime Condo, Dist. 2, HCMC (2) - 350 350
Prime Condo, Dist. 9, HCMC (2) - - -
Riviera Cove (Villa Devt.), Dist. 9, HCMC (1) 47 - -
Villa Devt., Dist. 9, HCMC (2) - 76 101
Saigon Sports City, HCMC (2) - 355 408
Dong Nai Waterfront City (2) - 100 300
South Rach Chiec, Dist 2, HCMC(2) - 400 400
Waterfront Villa Development, Dist 12, HCMC (2) - 87 87
Thailand
Villa Arcadia at Srinakarin, Bangkok (1) 50 50 50
Villa Arcadia at Watcharapol, Bangkok (1) 30 30 30
India
Elita Promenade, Bangalore (1) 256 - -
Elita Horizon, Bangalore (2) - 187 400
Elita Garden Vista, Kolkata (1) 200 200 190
Indonesia
Jakarta Garden City (1) 254 251 112
Middle East
Waterfront Apartment Devt., Jeddah, Saudi Arabia (2) 350 300 300
Total 1,781 3,179 3,778
48
(1) Balance units
(2) New launches
25
49
China Residential Landbank
(1) Excludes commercial area
(2) Includes commercial area
Site LocationKLL's
Stake
Total
Land Area Total GFA
Remaining
Area for Sale
Remaining
Units for Sale
(%) (sm) (sm) (sm)
8 Park Avenue Shanghai 99% 33,432 133,393 65,424 394
Park Avenue Central Shanghai 99% 28,488 99,708 99,708 708
Villa Riviera Shanghai 99% 153,726 53,796 8,211 10
The Arcadia Tianjin 100% 127,970 74,826 40,270 86
Central Park City Wuxi 49.7% 352,534 670,510 (2) 415,207 (1) 3,537
The Botanica Chengdu 44.1% 419,775 1,042,846 (1) 445,987 (1) 4,930
Stamford City Jiangyin 82.9% 82,987 301,338 (2) 234,693 (2) 879
The Seasons Shenyang 100% 348,312 496,265 487,032 4,748
Waterfront Township Devt Shenyang 99.8% 302,681 756,580 752,080 (2) 5,695
Residential Devt, Pudong Shanghai 99% 264,090 323,458 (2) 317,659 (1) 2,667
Integrated Marina Lifestyle Devt Zhongshan 80% 827,641 408,274 402,774 2,855
Summer Ville Changzhou 100% 46,108 64,890 898 5
Serenity Cove (Ph 3) Tianjin 100% 128,685 80,000 79,800 340
Tianjin Eco-City (35.4 ha site in SUA) Tianjin 55% 354,174 684,500 684,500 5,033
Mixed Devt (A) Tianjin 100% 1,000,000 1,500,000 1,500,000 na
Mixed Devt (B) Tianjin 100% 666,665 1,666,665 1,666,665 na
Total 5,137,268 8,357,049 7,200,908 31,887
50
Other Overseas Residential Landbank
(1) Excludes commercial area
(2) Includes commercial area
Country Site
KLL's Total Land Area Total GFA
Remaining Area for
Sale
Remaining Units for
Sale
Stake (sm) (sm) (sm) Units
India Elita Promenade 51% 96,618 193,237 40,218 256
Elita Horizon 51% 79,177 150,680 150,680 1,138
Elita Garden Vista 37.7% 93,998 195,355 134,738 857
Sub-total 269,793 539,272 325,636 2,251
Indonesia Jakarta Garden City - Phase 1 51% 143,990 148,839 88,075 613
Jakarta Garden City – Remaining phases 827,914 999,890 999,890 7,403
Sub-total 971,904 1,148,729 1,087,965 8,016
Thailand Villa Arcadia at Srinakarin 45.5% 159,706 84,440 71,082 225
Villa Arcadia at Watcharapol 66.7% 124,912 68,314 80,860 257
Sub-total 284,618 152,754 151,942 482
Vietnam Saigon Sports City, HCMC 90% 640,477 713,222 (2) 290,100 (1) 2,318
The Estella, HCMC 55% 47,906 279,851 (2) 148,183 (1) 968
Waterfront Condo, Binh Thanh Dist, HCMC 60% 17,428 87,140 74,069 549
Riviera Point, Dist. 7, HCMC 75% 85,118 408,566 (2) 289,401 (1) 2,394
Dong Nai Waterfront City 50% 3,667,127 1,979,727 (2) 1,576,190 (1) 10,434
Prime Condo, Dist. 2, HCMC 60% 51,000 244,800 166,464 1,500
Villa Devt, Dist 9, HCMC 55% 135,142 55,746 74,328 177
Prime Condo, Dist. 9, HCMC 55% 62,727 250,908 213,272 1,777
Riviera Cove(Villa), Dist. 9, HCMC 60% 97,000 35,190 29,146 47
South Rach Chiec, Dist 2, HCMC 42% 300,000 755,000 641,750 4,700
Waterfront Villa Development, Dist 12, HCMC 60% 11,300 40,715 56,549 174
Sub-total 5,115,225 4,850,865 3,559,452 25,038
Middle East Waterfront apartment Devt., Jeddah, Saudi
Arabia 51% 36,236 253,652 253,652 993
36,236 253,652 253,652 993
Philippines Palmdale Heights(Ph2), Manila 30.9% 15,976 62,751 62,751 1,264
SM-KL Residential Devt. Manila 24.2% 7,068 56,000 56,000 430
Sub-total 23,044 118,751 118,751 1,694
Total 6,700,820 7,064,023 5,497,398 38,474
26
51
Geographical Breakdown
Asset Allocation – By Geographical Location
(31 Dec 2009)PATMI*- By Geographical Location
(31 Dec 2009)
Singapore, 68.6%
China, 22.3%
Indonesia, 1.4%
Vietnam, 6.5%
India, 1%
Others, 0.2%
Singapore
63%
China
15%
Indonesia
8%
Vietnam
9%
India
1%Others
4%
*Before net fair value gain on investment properties (after adjusting for tax and minority interests) and gain on acquisition of
additional interest in K-REIT Asia
52
Loan Maturity Profile
Due in 2010, 48%
Due in 2011-2012,
14%
Due in 2013, 16%
Rolling, 22%
Total Debt : $1.7 bn
27
53
Singapore Commercial
Tenant Business Sector by Net Lettable Area as at 31 Dec 2009
Diverse tenant mix reduces exposure to specific sector
54
This release may contain statements which are subject to risks and
uncertainties that could cause actual results to differ materially from
such statements. You are cautioned not to place undue reliance on
such statements, which are based on the current views of
Management on future developments and events.
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