ANNUAL GENERAL MEETING

26 APRIL 2017

DISCLAIMER

This presentation may contain statements that involve risks and

uncertainties. Actual future performance, outcomes and results may

differ materially from those expressed in such statements as a result

of a number of risks, uncertainties and assumptions. Past

performance is not necessarily indicative of future performance.

You are cautioned not to place undue reliance on these statements,

which are based on the current views of management on future

developments and events.

FINANCIAL HIGHLIGHTS

Key Financial Data - FY2016

279,498Revenue

Profit attributable to shareholders

S$‘000

26,266

Group Income Statement

Key Financial Data - FY2016

Cash and cash equivalents 53,366

Equity attributable to shareholders 256,680

Interest-bearing bank loans 200,970

295,915Development properties for sale

Completed properties for sale 114,769

Group Balance SheetS$‘000

Key Financial Data - FY2016

6.55Earnings per share (cents)

Net asset value per share (cents) 64.01

Dividend per share (cents) 1.375

Dividend yield (%) 4.04

Financial Ratios

Revenue

$291m

$227m

$36m

$264m

$279m

0

25

50

75

100

125

150

175

200

225

250

275

300

2012 2013 2014 2015 2016

$'million

Profit Attributable to Shareholders

$41m

$29m

$43,000

$20m

$26m

0

5

10

15

20

25

30

35

40

45

2012 2013 2014 2015 2016

$'million

Earnings Per Share

0

2

4

6

8

10

12

2012 2013 2014 2015 2016

10.26

7.19

0.01

5.07

6.55

(cents)

Equity Attributable to Shareholders

$203m

$226m$220m

$236m

$257m

80

100

120

140

160

180

200

220

240

260

2012 2013 2014 2015 2016

$'million

Net Asset Value Per Share

0

10

20

30

40

50

60

70

2012 2013 2014 2015 2016

50.68

56.2554.75

58.74

64.01

(cents)

Dividend Yield

1.6

0

1.0

0

1.2

5 1.3

75

3.72%4.11%

3.08%

3.91% 4.04%

0.0%

0.5%

1.0%

1.5%

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%

0.0

0.2

0.4

0.6

0.8

1.0

1.2

1.4

1.6

1.8

2012 2013 2014 2015 2016

(ce

nts

)

Dividend per share Dividend yield

1.5

0

Proposed Dividends

1 Jan 2016 – 31 Dec 2016Dividend Period

Special & Final Dividend 1.375 cents per share

Type of Dividend Cash

Last Day of Trading on “Cum” Basis 2 May 2017

Record Date 5.00 p.m., 5 May 2017

Payment Date 19 May 2017

1-Year Stock Chart

(April 2015 – April 2016)

Source: Reuters

UPDATE ON

EXISTING PROPERTIES

Residential Properties

Land Parcel at

Fernvale Road

Artist’s Impression, subject to approval

Land Parcel at Fernvale Road

Salient points:

Thanggam LRT station at door-step

Abundant amenities in the vicinity such as The Seletar

Mall, Compass One, eateries along Jalan Kaya,

Sengkang Sports Centre and Sengkang Riverside park

Secondary and primary schools in the neighbourhood

Easy access via Tampines Expressway

Seletar Aerospace Park may provide pool of prospective

purchasers and tenants

Land Parcel at Fernvale Road

Land Parcel at Fernvale Road

Type of property: Condominium

Tenure: 99-year Leasehold

Land area: 185,095 sf

Gross floor area incl. balcony: ~ 610,000 sf

Purchase price incl. differential

premium for balcony: est. $303 million

Saleable area: ~ 568,000 sf

Number of units: ~ 735

Unit sizes: 400 – 1,450 sf

Construction commencement: est. 3Q 2017

Sales launch: est. 4Q 2017

Residential Properties

Robin Residences – Robin Road

Robin Residences

Type of property: Condominium

Tenure: Freehold

Saleable area: 124,950 sf

Number of units sold: 134 units, fully sold(subject to contract)

TOP date: 24 December 2015

Residential Properties

Waterwoods

- Punggol Field Walk

Waterwoods

Type of property: Executive Condominium

Tenure: 99-year Leasehold

Saleable area: 468,627 sf

Number of units sold: 373 units, fully sold(subject to contract)

TOP date: 1 December 2015

Hotel

Travelodge Docklands, Melbourne

Travelodge Docklands

Salient points:

Hotel is in the immediate vicinity of the Southern Cross

Railway Station

Within minutes’ walk to Etihad Stadium, Spencer Outlet

Centre, Melbourne Convention & Exhibition Centre

and Crown Casino

Near to numerous corporate headquarters such as

Medibank, National Australia Bank, KPMG etc.

Benefits from local travelers, tourists and corporate guests

Docklands is a redevelopment precinct and construction

is due for completion around 2025

Travelodge Docklands

Medibank

National Bank

of Australia

Melbourne Quarter

(residential,

commercial & retail)

Travelodge Docklands

Travelodge Docklands

Travelodge Docklands

Type of property: 14-storey limited service hotel

Tenure: Freehold

No. of guest rooms: 291, each 24 sqm

Amenities: Restaurant, meeting rooms, business

centre and guest laundry services

Operator: TFE Hotels, jointly owned by Toga Group

and Far East Hospitality Holdings

Lease expiry: June 2020 with 3x5-year renewal option

Purchase price: A$107 million (~ A$368,000 per key)

Yield: 6.12% (based on FY2016 EBITDA)

Occupancy (2016): 92.6%

Industrial Properties

BizTech Centre Aljunied Road

BizTech Centre

Type of property: Light industrial

Tenure: Freehold

Number of units owned: 46 strata units

Area owned: 48,010 sf

Carrying value: $535 psf

Occupancy rate: 90%

THANK YOU!