investor mtg presentation - feb 2011 (24feb11)v3

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Investor Meetings February 2011

Content

Introduction

Strategic Focus

Summary of FY 2010 Results & Updates

Market Review & Outlook

d Going Forward

Recent Awards

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Introduction

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Total assets of $8.3 bil as @ 31 Dec 2010Market cap of $6.0 bil as @ 23 Feb 2011

Premier Property Company

Introduction

Developer of One Raffles Quay and Marina Bay Financial Centre

in Singapore’s Crown Jewel Marina Bay

Leading Prime Office Player

Focus on thematic residential and township developments in Singapore, China,

Asia’s Quality Home Developer

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Vietnam, India and Indonesia Home Developer

Manager of four property funds and a pan‐Asian commercial REIT

Established Property Fund Manager

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Vision

To be the premier multi‐national corporation providing

Vision and Mission

To be the premier multi national corporation providingurban living solutions through the twin core businesses ofproperty development and property fund management.

Mission

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We are committed to create live‐work‐play environmentsof enduring value for the community with our hallmarkexcellence, and achieve sustainable higher returns for ourshareholders.

Strategic Focus

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Two Core Businesses

SINGAPORE

Strategic Focus

K‐REIT Asia to recycle capital

Property

Development

for Sale

Property

Fund

Management

SINGAPORE

Commercial developments mainly in Marina Bay and CBD

Residential developments including lifestyle waterfront projects

OVERSEAS

R id ti l d l t Fee‐based income from fund management with greater AUM

Residential developments including townships, sustainable developments and integrated lifestyle projects

Commercial developments selectively

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Summary of FY 2010 Results &

Updates

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Record Performance with Focus on Growth

Summary of FY 2010 Results

• Net profit rose to >$1 billion and EVA to $385 million

• Proposed dividend : 18 cents per share

• Completed asset swap with K‐REIT Asia

• Record home sales and pre‐commitment for new Grade A office space

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• Expanded >9,700 homes with acquisitions in China and Vietnam

• AUM from K‐REIT Asia and Alpha Investment Partners grew to $11.2 billion

Strong Balance Sheet

Strong cash position : $1.59b as at end‐Dec 10

Summary of FY 2010 Results

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• Issued $500m convertible bonds at 1.875%

• Net proceeds of S$826m from asset swap with K‐REIT Asia

Availability of credit facilities and MTN programme

(unutilised: US$495m)

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Quantum of fixed rate debt : Doubled from 26% to 52%

Net gearing : 0.20x as at end‐2010

• Able to borrow an additional $1.4 billion for net gearing to increase to 0.50x

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Singapore

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Singapore

Strategic Asset Swap between Keppel Land and K‐REIT Asia

Keppel Towers GE TowerMarina Bay Financial Centre (Phase 1)*

T1

T2

* Refers to Towers 1 & 2 and Marina Bay Link Mall

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Strengthened financial position with $826m net proceeds

Prime residential pipeline with KTGE site purchase

Asset size placing K‐REIT Asia among top 5 S‐REITs

• Portfolio in Raffles Place and Marina Bay from 60% to 90%

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Singapore

Redevelopment of KTGE in Tanjong Pagar

Redevelopment of KTGE site into high rise apartmentshigh‐rise apartments

• Ride on transformation of Tanjong Pagar precinct into a waterfront city

• Growing demand for city living in established commercial hubs

Obtained outline planning permission

Total GFA 481,800 sf

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Plot Ratio 5.6

Type of Development

High‐rise residences

Total Units Two towers of 45‐ and 26‐ storeys high with about 620 units

Tenure FreeholdSource : URA and Business Times

Singapore Residential

Quality Development with Good Location

Total : 629 units

• Unit type : 1 – 4 bedroom plus penthouses

• Unit sizes range from 500 sf – 1,400 sf

86% of 560 units launched sold as at end‐Jan 2011

Benefit from the remaking of Jurong Lake District and relocation of government agencies

Close proximity to :

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• Lakeside MRT station

• Jurong Gateway precinct with about 500,000 sm commercial space

• Future Canadian International School, JurongPoint and other amenities

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Demand for Luxury Homes at Marina Bay

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Marina Bay Suites

Total : 221 units

98% of 140 launched units sold as at end‐Jan 2011

Reflections at Keppel Bay

Total : 1,129 units


Singapore Commercial

Marina Bay SuitesFinal phase of luxury residential development in the Marina Bay area

Marina Bay Financial Centre*Comprises 3 Grade A office towers

Marina Bay as a Vibrant Work‐Live‐Play Environment

Ocean Financial CentrePlatinum level LEED‐CS

pre‐certificationOne Raffles Quay

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Marina Bay Sands (Integrated Resort) Keppel Land’s projects located nearby to the IR

Marina Bay ResidencesFully sold out luxury residential development

*MBFC Phase 1 divested to K‐REIT Asia

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Choice Location for Multi‐national Companies


MBR T3 T2 MBS

T1

Marina Bay Financial Centre

Phase 1 (Towers 1 & 2)* : 1.65m sf

Ocean Financial Centre

Overall commitment : About 80%

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Phase 1 (Towers 1 & 2) : 1.65m sf• Fully leased and TOP

Phase 2 (Tower 3) : 1.3m sf• 66% committed and completion in 2012

Major tenants include : • Barclays• Nomura• Standard Chartered Bank

Total NLA : 850,000 sf

Completion : Mid‐2011

Major tenants include : • ANZ • Drew and Napier• BNP Paribas

Increased stake in OFC to 87.51% with acquisition of additional 11.85% stake*MBFC Phase 1 divested to K‐REIT Asia

Stable Income Growth

K‐REIT Asia

Distributable income for FY10: $85.6m ( 21.4% y‐o‐y)

Distribution per unit for FY10: 6.37 cents ( 20.6% y‐o‐y)

Committed occupancy: 97%

Aggregate leverage as at 31 Dec 2010 : 37%

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MBFC Towers 1 & 2, Marina Bay Link Mall

Bugis Junction Towers

One Raffles QuayPrudential Tower

275 George Street, Brisbane

77 King Street, Sydney

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Overseas

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Strengthen Focus on China

Overseas ‐ China

Established Keppel Land China Limited Established Keppel Land China Limited

• Grow presence and build on existing sterling portfolio

• Capture value in vast and fast‐growing market

• Focus on developing townships,

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p g p ,prime residential and commercial developments

3 mega‐regions :

Western Region

Yangtze River Delta Region

Greater Bohai Rim Region

Nantong

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2009 H t hi Sh 30 3 h

Township Developments Tap on Rising Housing Demand

Overseas ‐ China

Township strategy began in 2009

2008

2007 The Seasons, Shenyang, 24 ha

Hunnan township, Shenyang, 30.3 ha

Tianjin Eco City, Tianjin, 36.6 ha*

Adjacent site to The Seasons, Shenyang, 10 ha

p gy g2003

More sustainable demand

• Less susceptible to speculation

2003

2005

The Botanica, Chengdu, 42 ha

Central Park City, Wuxi, 35.3 ha

*Refers to Start‐UP Area, total site development is 30 sq km

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Overseas ‐ China

Robust Demand for Homes in China

Record home sales : Sold > 4,000 units in 2010

The Botanica Central Park City The SpringdaleThe ArcadiaSeasons Park, Tianjin Eco City

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Main Project Units Sold in 2010

The Botanica in Chengdu 1,800

Central Park City in Wuxi 950

The Springdale in Shanghai 660

Seasons Park, Tianjin Eco‐City 460

The Villa Arcadia in Tianjin 88

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Launch of Keppel’s First Eco‐Homes in Tianjin Eco‐City

Overseas ‐ China

Keppel’s 36.6‐ha site in SUA of Tianjin Eco‐City :

Total : 4,995 homes plus office and retail

Phase 1 : Seasons Park (1,672 units)

• > 86% of 548 units launched sold as at end‐Jan 2011

Shareholding Structure:

• KLL : 55%; KCL : 45%

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Tianjin Eco‐City Entire Development

Start‐up Area (SUA)

Size 30 sq km 4 sq km

Development period 10‐15 years 3‐5 years

No. of homes > 100,000 >20,000

Population (approx.) 350,000 85,000Seasons Park, Tianjin Eco City

Acquired Prime Residential Sites in China

Overseas ‐ China

Recent acquisitions :

• Two prime sites in Chengdu

• Maiden site in Nantong, Jiangsu

Land Cost Total Land Area (ha)

Total GFA (sm)

Total No. of Units

Chengdu

Apartments in Jinjiang District RMB 1.21 bn( $ )

5.1 203,000 1,646

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Villas in Xinjin County

(S$249m)

RMB 617 m (S$127m)

25 87,300 242

Residential Devt in NantongRMB 1.04 bn(S$202 m)

17.2 190,000 979

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Choice Developer in Vietnam

Overseas ‐ Vietnam

The Estella HCMC Riviera Cove HCMCRiviera Point HCMC

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The Estella, HCMC

First development in Vietnam to obtain Green Mark Gold Award

Total : 1,393 units

66% of 719 launched units sold as at end‐ Jan 2011

Riviera Cove, HCMC

9.7‐ha riverfront site in emerging residential suburb District 9

Total : 96 villas


Riviera Point, HCMC

Near to Phu My Hung township and commercial area

Total : 2,400 units

64 out of 146 launched units sold since launched in Jan 2011

Recent acquisitions

Enlarged Residential Footprint

Overseas ‐ Vietnam

• Waterfront villa development site, HCMC

‐ Site area : 13.5 ha

‐ Total : 225 villas with recreational facilities

• Villa development site, HCMC

‐ Site area : 9 8 ha

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Site area : 9.8 ha

‐ Total : 150 homes along Rach Chiec River

‐ Near to Riviera Cove, which is almost sold out

• Targeted at upper‐middle to high‐income segment

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Continued Sales as Economic Outlook Improves

Overseas – India and Indonesia

Project % Sold

as at end‐Jan 2011as at end‐Jan 2011

Elita Promenade, Bangalore – 1,573 units 94% of 1,515 units launched

Elita Garden Vista, Kolkata (Phase 1) – 1,278 units 83% of 688 units launched

Jakarta Garden City, Jakarta (Phase 1) – 971 units 73% of 866 units launched

27Elita Promenade, Bangalore Elita Garden Vista, Kolkata Jakarta Garden City

Fund Management

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AUM up 14% with new acquisitions

Alpha Investment Partners

Seoul Square

Alpha Asia Macro Trends Fund

portfolio with:

• Seoul Square, Grade A office building in South Korea

• 23 units at Draycott 8, 162 units of The Cascadia and 77% stake in Katong Mall

Alpha Investment Partners :

$7.7 b(1)

Total AUM: $11.2 b

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portfolio after asset swap

Takes steps towards being a pan‐Asian REIT with 2 Grade A offices in Australia

K‐REIT Asia : $3.5 b

275 George Street, Brisbane

77 King Street, Sydney

(1) When fully leveraged and fully invested

Market Review & Outlook

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EasingMarket Sentiments

Demand to moderate as buyers adopt wait‐and‐see attitude due to the recent government measures

Homes located in prime locations and with strong marketing attributes will still see steady demandattributes will still see steady demand

Stable Economic Growth

GDP 14.5% in 2010 and forecast to by 4 ‐ 6% in 2011

Healthy fundamentals and continued regional expansion to support growth

Low interest rate environment

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Favourable Drivers Abundant liquidity from Asia’s booming wealth

IRs elevated Singapore’s profile as a cosmopolitan city, attracting more investments


Positive Economic Outlook

Stable economic outlook to drive companies’ growth and expansion

Recovery in the financial sector to support demand for office space

Office Market to Further Improve

Grade A rents 10% q‐o‐q to $9.90 psf in 4Q10

Further upside for rents as demand for prime Grade A offices continue to grow― “flight to quality”

Reduction in CBD office space by > 1m sf due to older buildings being converted into residential and other uses

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being converted into residential and other uses

GrowingSignificance as a Financial Hub

Singapore ranked 25th in CBRE’s Global Office Rents Index

Singapore retained 4th position in the latest Global Financial Centres Index

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Overseas

CountryGDP Growth

Property Market

EIU expects Asia to be fastest‐growing region, led by China and India

Long term growth backed by rising home ownership aspirations

CountryProjections for 2011 (1)

Property Market

China 9.8% Government measures support sustainable market growth

Vietnam 6.9% Long‐term demand still strong for quality homes

India 8.9%Improving market conditions with positive economic outlook and strong growth fundamentals

Indonesia 6.0%Economic expansion and low interest rate environment continue to support demand

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Economic Growth

Favourable Demographics

Growing Middle Class

Rising Affluence

Urbanisation Trends

Home Ownership Aspirations

(1) Economist Intelligence Unit, Chinese Academy of Sciences

Going Forward

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Going Forward

Actively seek acquisitions in Singapore and overseas, capitalising on opportunitiescapitalising on opportunities

Continue to focus on developing quality residential, township, commercial and mixed‐use projects

Monitor market and time launches for new projects and phases

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phases

Recycle capital to take on new large‐scale development projects


Monitor Market to Launch New Phases

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The Lakefront Residences

Balance Units: 146 units

Marina Bay Suites


Reflections at Keppel Bay


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Overseas Residential – China

Potential New Launches

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8 Park Avenue, Shanghai

Total : 260 units (2 blocks)

Located at prime Jingan District

The Seasons, Shenyang

Total : 4,748 units

Located in Shenbei New District

Overseas Residential – Vietnam

Project Expected to be Launched

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Waterfront Township Development, South Rach Chiec, District

Total : 6,430 units

Site area : 30‐ha

Fronting South Rach Chiec river

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Recent Awards

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Corporate Awards

Euromoney Real Estate Awards 2010• Best Developer in Vietnam• Best Office Developer in Singapore

Product Excellence Awards

FIABCI Prix d’Excellence 2010 Awards• Jakarta Garden City as Runner‐up in Residential (Low‐Rise) Category

FIABCI Indonesia ‐ BNI Prix d’Excellence 2010 Awards• Jakarta Garden City won Best Middle Class Residential Development

World Travel Awards • Sedona Hotel Yangon named Myanmar’s Leading Hotel

Best Asian Marina Award 2010

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• Marina at Keppel Bay won Best Asian Marina award by Asia Boating Awards

Transparency Awards

SIAS Investors’ Choice Awards 2010 • Most Transparent Company (Properties category) – Runner up

Business Times’ Governance and Transparency Index• Ranked top 2% out of 681 companies

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CSR Awards

Dow Jones Sustainability Asia Pacific Index (DJSI Asia Pacific Index)

• One of two Singapore companies to be included in the DJSI Asia Pacific Index

ASEAN Business Awards (ABA) 2010ASEAN Business Awards (ABA) 2010

• "Most Admired ASEAN Enterprise" for Corporate Social Responsibility

Singapore Environmental Achievement Awards

• Merit Award in Services category for excellence in corporate environmental leadership

ACCA Singapore Awards for Sustainability Reporting 2009

• Merit Award for Sustainability Reporting

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Total of 21 BCA Green Mark Awards

• Latest Green Mark Awards – Equity Plaza, KTGE, Keppel Bay Tower

Thank You

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Additional Slides

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5‐Year Financial Profile

FY2010 FY2009 FY2008 FY2007 FY2006

Turnover ($m) 792.3 923.9 842.2 1407.9 948.0

Operating Profit ($m) 222.9 201.9 231.7 312.3 204.1

Pre‐tax Profit ($m) 1,183.1 358.6 314.0 988.7 263.4

Net Profit ($m) 1,045.8(1) 280.4(2) 227.7(2) 779.7(3) 200.3

Overseas Earnings (% of PATMI) 41.1 31.5 29.5 39.7 63.6

EPS (¢)(4) 72.8 24.2 22.4 76.9 19.8

NTA/Share ($) 2.97 2.36 3.39 3.18 2.21

(1) Includes corporate restructuring surplus of $363.8 mil from sale of 1/3 interest in MBFC Phase 1, gain on acquisition of additional interest in K‐REIT Asia and net fair value gain on investment properties

(2) Includes gain on acquisition of additional interest in K‐REIT Asia and net gain on revaluation of investment properties (3) Includes corporate restructuring surplus of $235.2 mil from sale of ORQ and net gain of $265 mil on revaluation of investment properties less

impairment provision(4) EPS have been restated to include the effects of the rights issue in 2009(5) ROE after net fair value gain on investment properties/impairment

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Net Debt/Equity Ratio (x) 0.20 0.22 0.52 0.41 1.04

ROE (%) (5) 30.0 10.1 9.9 46.2 12.8

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Financial Performance FY10 vs FY09

Net Profit 273% y‐o‐y

FY2010 FY2009 % ChFY2010 FY2009 % Chg

Turnover $792.3m $923.9m (14.2)

EBITDA $231.9m $211.4m 9.7

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Pre‐tax Profit $1,183.1m $358.6m 229.9

Net Profit $1,045.8m $280.4m 273.0

Financial Ratios

FY2010 FY2009 % Chg

Basic EPS ‐ Before Fair Value Gain/ Impairment 44 6cts 22 6cts 97 3Before Fair Value Gain/ Impairment‐ After Fair Value Gain/ Impairment

44.6cts72.8cts

22.6cts24.2cts

97.3200.8

ROE ‐ Before Fair Value Gain/ Impairment‐ After Fair Value Gain/ Impairment

18.4%30.0%

9.4%10.1%

95.7197

NTA / Share $2.97 $2.36 25.8

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Net Debt/Equity Ratio 0.20x 0.22x (9.1)

Dividend Per Share

‐ Final Dividend‐ Special Dividend

‐ Total Dividend

9cts9cts

18 cts

8cts‐

8 cts

12.5nm

nm

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Strong Balance Sheet

FY2010 FY2009

N D b $0 9b $0 8bNet Debt $0.9b $0.8b

Avg Interest Rate of Borrowings 2.0% 2.3%

Fixed Rate Debt 52% 26%

Avg Debt Maturity 3.14 yrs 1.49 yrs

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Interest Cover Ratio(1)

23.9x 13.1x

(1) Interest Cover Ratio = Profit Before Interest and Tax

Net Interest Cost Expensed and Capitalised

Geographical Breakdown

Asset Allocation (as at 31 Dec 2010)

Net Profit (as at 31 Dec 2010)

India 0 4%

Vietnam 8%Indonesia 6%

India 1% Others 3%

China 30.7%

Vietnam 7.2%

Indonesia 0.9%India 0.4%

Others 1.8%

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China 20%

Singapore 62% Singapore 59%

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Singapore Residential Landbank

Project Location KLL’s Stake TenureAttributable Land Attributable GFA Total

Project Location KLL’s Stake TenureArea (sf) (sf) Units*

Keppel Bay Plot 3 Keppel Bay 30% 99‐yr 125,366 152,999 307

Keppel Bay Plot 4 Keppel Bay 11.7% 99‐yr 35,992 40,300 234

Keppel Bay Plot 6 Keppel Bay 30% 99‐yr 141,429 67,813 94

Keppel Towers & GE Tower

Tg Pagar Rd / Hoe Chiang Rd 100% Freehold 98,243 481,823 620

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& GE Tower Hoe Chiang Rd 100% Freehold 98,243 481,823 620

Total 401,030 742,935 1,255

* Estimated no. of units

China Residential Launches

Units to Launch 2011 2012 2013

8 Park Avenue, Shanghai * 189 130 59

Park Avenue Central, Shanghai ^ ‐ ‐ ‐

The Botanica, Chengdu * 1,248 1,500 399 , g , ,

Central Park City, Wuxi * 673 700 596

Stamford City, Jiangyin* 264 558 149

The Seasons, Shenyang^ 280 1,623 1,010

The Spingdale, Shanghai* 490 800 727

Integrated Marina Lifestyle Devt, Zhongshan^ 19 251 425

Serenity Cove(Ph 3),Tianjin* 122 130 88

Tianjin Eco‐City (36.6‐ha)* 1,187 1,522 1,792

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Shenyang Hunnan site^ ‐ 696 782

Prime Residential Devt, Chengdu^ ‐ 823 823

Villa Devt, Chengdu^ ‐ 114 128

Residential Devt, Nantong^ ‐ 166 371

Total 4,472 9,013 7,349

*Balance units^New launches

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Other Overseas Residential LaunchesUnits to launch 2011 2012 2013

VietnamSaigon Sports City, HCMC ^ ‐ ‐ 355 The Estella (Phase 1), Dist. 2, HCMC * 114 135 ‐The Estella (Phase 2), Dist. 2, HCMC ^ 200 300 Riviera Point (Bridge‐site), Dist 7, HCMC * 350 400 400 Waterfront Township, Dong Nai Province^ ‐ 260 340 Prime (Condo), Dist. 2, HCMC ^ ‐ ‐ 350 Riviera Cove (Villa), Dist 9, HCMC * 12 ‐ ‐South Rach Chiec, Dist 2, HCMC ^ 150 400 400 Riviera Gardens, Dist 12, HCMC ^ 87 87 ‐Villa Development, Saigon South, HCMC ^ ‐ 80 80 Villa Development, Dist 9, HCMC ^ 15 135 ‐ThailandVilla Arcadia at Srinakarin, Bangkok * 50 50 50 Villa Arcadia at Watcharapol, Bangkok * 30 30 ‐

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IndiaElita Promenade, Bangalore * 162 ‐ ‐Elita Horizon, Bangalore ^ 187 400 400 Elita Garden Vista, Kolkata * 244 233 254 IndonesiaJakarta Garden City* 288 207 370

Middle EastAl Mada Towers, Jeddah, Saudi Arabia ^ 300 300 300 Total 1,992 2,917 3,599*Balance units^New launches

China Residential Landbank

Site LocationKLL's Stake

Total Land Area (sm)

Total GFA(sm)

Remaining AreaFor Sale (sm)

Remaining Units For Sale

8 Park Avenue Shanghai 99% 33,432 133,393 65,233 378

Park Avenue Central Shanghai 99% 28 488 99 708 99 708 708Park Avenue Central Shanghai 99% 28,488 99,708 99,708 708

Central Park City Wuxi 49.7% 352,534 671,053 # 314,252 ^ 2,583

The Botanica Chengdu 44.1% 419,775 1,042,846 ^ 334,119 ^ 3,149

Stamford City Jiangyin 99.4% 82,987 299,684 # 244,771 974

The Seasons Shenyang 100% 348,312 499,373 486,863 4,748

Shenyang Hunnan site Shenyang 99.8% 302,681 756,580 742,565 7,026

Springdale Shanghai 99% 264,090 328,792 # 233,744 ^ 2,017

Integrated Marina Lifestyle Devt Zhongshan 80% 857,753 443,177 430,177 1,647

Serenity Cove (Ph 3) Tianjin 85.4% 128,685 80,000 79,800 340

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Tianjin Mixed Dev Tianjin 100% 1,666,665 1,358,202 1,358,202 11,299

Tianjin Eco‐City Tianjin 55% 365,708 684,500 640,780 4,501

Prime Residential Devt Chengdu 100% 50,782 202,800 200,800 1,646

Villa Devt Chengdu 100% 249,330 87,266 84,666 242

Residential Devt Nantong 100% 172,215 189,437 # 187,380 # 979

Total 5,323,437 6,876,811 5,503,060 42,237

#Includes commercial area^Excludes commercial area

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Other Overseas Residential LandbankCountry Site KLL's stake

Total Land Area(sm)

Total GFA(sm)

Remaining Area forSale (sm)

Remaining Units for Sale

India Elita Promenade 51% 96,618 237,446 25,477 162Elita Horizon 51% 79,177 150,680 150,680 1,138Elita Garden Vista 37.74% 93,998 195,380 115,077 731

Sub‐total 269,793 583,506 291,234 2,031Indonesia Jakarta Garden City Phase 1 51% 266 939 140 658 65 649 350Indonesia Jakarta Garden City ‐ Phase 1 51% 266,939 140,658 65,649 350

‐ Remaining phases 874,079 946,711 881,934 5,809Sub‐total 1,141,018 1,087,369 947,583 6,159

Thailand Villa Arcadia at Srinakarin 45.50% 159,706 84,440 65,293 205Villa Arcadia at Watcharapol 66.70% 124,912 68,314 78,191 250

Sub‐total 284,618 152,754 143,484 455Vietnam Saigon Sports City, HCMC 90% 640,477 688,180 # 298,786 ^ 2,325

The Estella, HCMC 55% 47,906 279,851 # 141,316 ^ 923Riviera Point (Bridge‐site), Dist. 7, HCMC 75% 89,712 447,079 # 293,676 ^ 2,400Waterfront Township, Dong Nai Province 50% 3,667,127 2,046,955 # 1,293,500 ^ 7,850Prime (Condo), Dist. 2, HCMC 60% 51,000 244,800 # 166,464 ^ 1,500Riviera Cove(Villa), Dist. 9, HCMC 60% 97,000 34,711 10,266 12South Rach Chiec, Dist 2, HCMC 42% 302,000 755,000 # 641,750 ^ 6,430

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Riviera Gardens, Dist. 12, HCMC 60% 113,098 40,715 56,549 174Villa Development, Saigon South, HCMC 50% 135,000 67,500 67,500 225Villa Development, Dist 9, HCMC 60% 98,000 45,183 48,900 150

Sub‐total 5,241,320 4,649,974 3,018,707 21,989

Middle East Al Mada Towers, Jeddah, Saudi Arabia 51% 36,236 253,652 253,652 1,005Sub‐total 36,236 253,652 253,652 1,005

Philippines Palmdale Heights(Ph2), Manila 30.9% 15,976 62,751 62,751 1,264SM‐KL Residential Devt. Manila 24.2% 7,068 56,000 56,000 430

Sub‐total 23,044 118,751 118,751 1,694

Total 6,996,029 6,846,006 4,773,411 33,333

#Includes commercial area^Excludes commercial area

Singapore

Location Map for Keppel Towers and GE Tower

The Beacon

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The Beacon

The Lumiere

KTGE

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Singapore

Location Map for Marina Bay Financial Centre

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Singapore

Developments to Benefit from MRT lines

• MadisonResidences

• Site at LakesideDrive

• Proposed

56Source: LTA as at 3 May 2010DTL 1 & DTL 2 : Its schematic profile, alpha‐numeric codes and end destination numbers are subjected to confirmation

• 11 new Circle‐Line Stations were opened on 17th April 2010

•Reflections at Keppel Bay

•Caribbean at Keppel Bay Sentosa IslandSentosa Island

• Proposed redevelopment of KTGE Towers

29

MBFC d OFC t ti


Continue To Benefit from Economic Recovery

MBFC and OFC to continue benefiting from flight to quality with new Grade A office buildings

Prime location close to major MRT stations and expressways

Continue to attract more

57Properties held under K‐REIT Asia : Keppel Towers & GE Tower, Bugis Junction Towers, Prudential Tower(73.4% interest), One Raffles Quay (1/3 interest) and MBFC Phase 1 (1/3 interest)

Continue to attract more commitments before completion and new tenants for existing buildings

Overseas – China

Sale of 10% interests in Singapore Tianjin Eco‐City to Singbridge (1)

Sino‐Singapore Tianjin Eco‐City

International Singapore(1)

Tianjin Eco‐City shareholding structure(2) :

45% 35% 20%

Keppel Integrated EngineeringKeppel Integrated EngineeringKeppel CorporationKeppel Corporation Keppel LandKeppel Land Singbridge Int’l S’poreSingbridge Int’l S’pore

90% 10%

58(1) A wholly‐owned subsidiary of Temasek Holdings Ltd

(2) Summarised graphical representation and not the legal representation of the shareholding structure

Tianjin Eco‐City (JV)

50% 50%

Registered Capital : RMB 4 billion

Singapore ConsortiumChinese Consortium

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Overseas – China

Sino‐Singapore Tianjin Eco‐City

Tianjin Eco‐City

Entire Development

Start‐up Area (SUA)

Size 30 sq km 4 sq km

Development Period

10‐15 years 3‐5 years

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No. of Homes > 100,000 >20,000

Population(approx.)

350,000 85,000

Fund Management

Alpha Investment Partners

F d d AIP d D 2010Funds under AIP as at end‐Dec 2010 :

Funds under AlphaCommitted

Equity % Invested

No. of Countries Invested In

Asia No. 1 Property Fund $400m 100% 4

Alpha Core Plus Real Estate Fund $720m 100% 4

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AIB Alpha Japan Fund $259m 46% 1

Alpha Asia Macro Trends Fund $1.7b 65% 5

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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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investor mtg presentation - feb 2011 (24feb11)v3

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