investor mtg presentation - feb 2011 (24feb11)v3
TRANSCRIPT
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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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Singapore Residential
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
98% of 800 launched units sold as at end‐Jan 2011
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
Singapore Commercial
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
95% of 88 launched units sold as at end‐Jan 2011
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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Singapore Residential
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
Singapore Commercial
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
Singapore Residential
Monitor Market to Launch New Phases
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The Lakefront Residences
Balance Units: 146 units
Marina Bay Suites
Balance Units: 84 units
Reflections at Keppel Bay
Balance Units: 349 units
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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
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MBFC d OFC t ti
Singapore Commercial
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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